LONDON (Alliance News) - Anglo African Agriculture PLC on Thursday said it was unaware of any reason behind its share price fall over the past six weeks.
Shares in the company were trading up 17% at 0.41 pence each following the statement. During the past month, they traded as low as 0.32p. The stock is down 32% over the past 12 months.
Anglo African reiterated that the business of Dynamic Intertrade Pty Ltd, its wholly-owned subsidiary, is performing "significantly better" than in prior financial years.
"Despite this positive news, the board believes that thin share trading volume has accounted for the recent fall in the company's share price," the firm explained.
Furthermore, business at the Comarco Port, in Kenya, is growing "strongly", Anglo African added.
Anglo African has lent USD1 million through a convertible bond to Comarco, and therefore has said their futures are linked.