(Alliance News) - Shares in Arden Partners PLC rallied on Thursday, after the stockbroking company affirmed it is "well capitalised" in the face of market volatility.
Arden shares soared to 5.01 pence per share on Thursday afternoon in London. On Wednesday, its shares had lost 64%, closing at 2.50p.
Arden said: "The board understands the current volatile nature of the stock market and the impact of this on relatively illiquid stocks.
"The company's preliminary results statement, highlighted that it was well capitalised as at its latest year end and the board confirms that it remains so.
"The board's priority will be to protect the company's balance sheet whilst remaining focussed on delivering its stated growth strategy and on servicing Arden's clients' needs. This remains the case despite the current difficult market conditions."
By Eric Cunha; ericcunha@alliancenews.com
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