Feedback unclear about reason for jump in share price

Medical imaging software company Feedback was performing strongly on Thursday morning, but said it was unaware of any reason, other than Wednesday's successful placing, as to why shares had jumped so much.

The share price, trading volume and speculation on the bulletin boards all saw an increase.

The AIM-listed firm announced mid-week that it had placed 11.11m shares at 1.8p apiece with both existing and new investors, raising £0.2m, which will be used to fund the continuing development of the TexRAD software.

"The company completed a successful placing with director participation, which has attracted positive media comment, however the board can confirm they know of no other reason that would lead to such a movement in the company's share price and the increase in trading volumes," it said.

Shares had risen 22.36% to 2.75p by 10:20, coming off an earlier peak of 3.225p.