4th May 2018 12:14
LONDON (Alliance News) - Anglo African Agriculture PLC said Friday that it was aware of its share price falling Thursday but believed "there is no reason" for the drop.
Anglo African stated "in terms of the underlying business" there is no reason "for this fall". Shares in the company fell 8.3% Thursday.
On Friday, however, the company rebounded and its shares are up 45% to 0.40 pence each. Over the last year, shares remain down 53%.
The company said its main trading operation, Dynamic Intertrade, is trading in line with expectations and it "recently enhanced" it sales team and is reporting new sales of ZAR14.8 million, about GBP900,000, in addition to normal turnover over the next six months.
Anglo African said it is "hopeful" it will be able to announce "progress" in regard to acquisitions that may add "significant value" to the company in due course.
Related Shares:
AAAP.L