PHOENIX INTERNATIONAL LTD. - Clarification On Price Movement

With Ref to clarification sought on price movement, company wish to inform that the price movement is purely market driven and various factors including market conditions etc. We are not aware of any particular for movement in price and we further clarify that management is in no way connected with the price movement. We have already made all the required disclosures form time to time and have not withheld any material info/ event.