Petards Group PLC (LON:PEG) said it has no idea why its shares have risen 40% since the start of the week.


The AIM-listed security and surveillance software developer, put out a statement saying it “is not aware of any specific reason for this significant increase, nor is it aware of any material developments beyond those previously notified to the market”.


In the final quarter of last year the group announced a series of contract wins, including wins with the Northamptonshire Police for ANPR roadside cameras, and for its eyeTrain systems for Great Western Railway and Govia Thameslink Railway trains.


Based on last year, the security and surveillance software group would be expected to update on the performance for the past calendar year in early February.


Petards shares hit 20p on Thursday, having been below 10p for most of December. In early trading on Friday, they lost 5.5% of that froth, pulling back to 17.25p.

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