30 Nov 2015

No reason to panic, says Intueri

1:39 pm on 30 November 2015

Education provider Intueri Education Group is reassuring investors that the business is in good health, following a big hit to its share price last week.

Its shares slumped 75 percent after it warned its full-year result could be hit by about $4 to $5 million by a Tertiary Education Commission review.

Intueri said the review involved the Quantum Education Group and the New Zealand School of Outdoor Studies, which operates a dive school.

But the shares rebounded about 70 percent this morning after the company said there were no other issues and that it had the backing of its banks.

Intueri chief executive Rob Facer said investors had no reason to panic.

"We're just making sure that we are reaffirming our position - reaffirming the quality message," he said.

Mr Facer said it appeared the review related to historic issues, and if that was the case, it would look at recovering costs from the schools' previous owners.

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