Donegal Investment Group PLC - Letterkenny, Ireland-based, agricultural firm - Pretax loss widens to €2.0 million in the six months to February 28 from €776,000 the year prior. No revenue is posted in either year, with the wider loss reflecting other expenses of €951,000 compared to zero a year ago. Donegal says the period saw it complete the sale of its seed potato businesses, receiving proceeds of €14.1 million. On completion, the firm has become a cash shell for the purposes of the Euronext Growth Rules and is therefore required to complete an acquisition constituting a reverse takeover within 12 months. If it fails to do this, trading in its shares will be suspended. The cash position at period end was €17.5 million.
Current stock price: €15.80
12-month change: down 4.2%
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