Allied Farmers said it was compliant with continuous disclosure rules after being asked by NZX Regulation why its share price had fallen to 5.6c on Friday.NZX Regulation noted that the price had decreased 4.4c, or 44%, since the close of trading on March
Allied Farmers said it was compliant with continuous disclosure rules after being asked by NZX Regulation why its share price had fallen to 5.6c on Friday.
NZX Regulation noted that the price had decreased 4.4c, or 44%, since the close of trading on March 1 and the release of the company's half-year result.
Allied Farmers said it had complied with continuous disclosure rules. It would be reasonable to assume that the significant decrease in its share price from 10c on March 2 to 7.6c on March 5 was the market's reaction to the half-year result announcement and revised asset value.
"For the remaining period to April 16, 2010, there have been a number of negative media reports concerning matters related to certain of the assets purchased from Hanover and United.
"One could speculate that these reports may possibly have contributed to the balance of the share price movement, but we are unaware of any reason or information that may have contributed to this decrease in Allied Farmer's share price," the company said.
The shares closed at 5.7c today.
