Mystery talks Quantum Foods has been engaged in since September which it warned could have an impact on the company’s share price have now ended, the firm has revealed.
In a statement to the South African stock exchange today (25 January), the poultry processor said: “Shareholders are hereby advised that the negotiations were not successfully concluded. Accordingly, caution is no longer required to be exercised by shareholders when dealing in the company’s securities”.
The company first issued a cautionary statement on 28 September in which it said: “Shareholders are advised that the company has entered into negotiations, which if successfully concluded may have a material effect on the price of the company’s securities.”
Subsequent statements issued on 9 November and 22 December said the company was still in negotiations
On 2 October, a second South African poultry player, Sovereign Food Investments announced it too was in talks that could affect its share price.
Andre Muller, chief financial officer for Quantum Foods, told just-food today: “A non-disclosure agreement prohibits us from divulging any information on the negotiations – I can however state that the discussions were not with Sovereign Foods“.