Champion rejects claims

PUBLISHED : Monday, 10 April, 1995, 12:00am
UPDATED : Monday, 10 April, 1995, 12:00am

CHAMPION Technology has suggested that incorrect and speculative comments on the company are partly responsible for the exceptional price movements and turnover of the stock in recent days.

The price of the scrip has plunged about 50 per cent to 59 cents on Friday since the company reported disappointing interim results on March 22.

In an announcement yesterday, chairman Paul Kan Man-lok said the company was informed by the stock exchange that it was not the subject of any investigation.

He dismissed claims that the company had imminent plans to propose a rights issue.

He said he had not reduced his shareholding in the company and had no intention of doing so.