Jeesr Industries Holds 4.5% Accrol Stake After Share Fall Collapse (ALLISS)

LONDON (Alliance News) - Accrol PLC said Thursday that Moroccan-based pulp tissue maker Jeesr Industries held a 4.5% stake in the toilet tissue maker after a transaction last Thursday.

Jeesr held 5.8 million shares in Accrol after the transaction, equivalent to a 4.5% stake in the 129.0 million shares outstanding. The holding of Jeesr prior to the transaction was not disclosed.

Shares in Accrol were 54% higher at 21.30 pence on Thursday.

In mid-March, shares in Accrol fell two-thirds after it said it expected to report an earnings before interest, tax, depreciation and amortisation loss for the year ending April 30 from a profit the year prior.

On Tuesday, Accrol was forced to say it did not know what was driving the massive share price gains it experienced on that day. Accrol ended the day at 15.01p per share after starting the day on 8.88p per share.