Ncondezi Energy Knows Of No Reason For Share Price Jump (ALLISS)

LONDON (Alliance News) - Ncondezi Energy Ltd on Friday noted a rise in ...

Alliance News 17 February, 2017 | 11:33PM
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LONDON (Alliance News) - Ncondezi Energy Ltd on Friday noted a rise in its share price, and said it knows of "no reason" for the movement.

It confirmed that talks to finalise its joint development agreement with Shanghai Electric Power Co Ltd continue as it has previously announced, with no new material developments since its update in December.

Back in December the company said it is the final stages of talks with Shanghai Electric on a joint development agreement for a 300 megawatt power plant to be built in Mozambique.

Shares in Ncondezi Energy were up 20% at 9.00 pence Friday, having jumped as high as 11.50p earlier in the day.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Ncondezi Energy Ltd 3.25 GBX 8.33 -
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