The board of Travelzest was unable to explain a surprise rise in the operator’s share price yesterday.

A statement said the company “noted the recent increase in the company’s share price and confirmed that it not aware of any reason for such a movement”.

It added: “Furthermore, as announced on September 2, the directors would remind shareholders that the company continues to be solely reliant on the support of its primary lender in order to continue to trade.”

Travelzest shares were trading up 22.5% at 0.49 pence yesterday afternoon, having reached a high of 0.62 pence earlier in the day.