Anglo African Agriculture PLC - agriculture investment company - Says unable to reach deal with Comarco for its proposed takeover of the Mombasa, Kenya-based marine and specialised contractor.
On October 1, Anglo said it had been informed by certain Comarco shareholders that they were unwilling to proceed with the proposed reverse takeover, and would instead arrange for the repayment of a loan and interest due to the company, which amounts to USD1.5 million. Notes that the Loan, together with accrued interest, has now been repaid.
"We are obviously very disappointed that after such a long period of time, the vendors of Comarco Group could not reach agreement among themselves to combine with Anglo African Agriculture and achieve a listing and also clearly behaved in a manner that caused harm to Anglo African Agriculture," comments Chair Andrew Monk.
Current stock price: 4.22 pence
Year-to-date change: down 45%
By Will Paige; willpaige@alliancenews.com
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