Eftpos technology company Advantage Group has unconditionally sold its Auckland head office building for $2.7 million.
In reply to a stock exchange inquiry about the recent rapid rise in its share price, Advantage yesterday said a deposit of $250,000 had been received for the building.
Advantage did not regard thesale as an explanation for the price rise.
The company's shares have risen from $1.08 to a high of $1.40 since February 25, when it forecast a third quarter profit of $1.3 million.
In the same period last year Advantage incurred a $1.57 million loss.
It also told the stock exchange yesterday it had received notice an option holder wished to exercise 120,000 of the unlisted options.
The options were issued in August at 3.5c each and have an exercise price of 27c.
That means the option holder will have paid 30.5c each for shares which were yesterday trading at 130c.
If the shares were sold at 130c, the option holder would book a profit of $119,400.
Advantage said it did not consider the pending exercise of the options was a reason for the recent rise in its share price.
