Nutritional Holdings in about-turn as it sells loss-making division

19 May 2021 - 20:24 Katharine Child
Picture: 123RF/ERIC LIMON
Penny stock Nutritional Holdings has issued its fourth clarification announcement in the past six weeks, backtracking on its public statement that its loss-making dry foods division had been placed in business rescue.
The company, valued at R167m, grows cannabis in Lesotho under its Ukusekela division and also owns Nutritional Foods, which sells maize-based foods to schools and prisons and has posted losses for the past seven years.
Nutritional Holdings, whose shares were unchanged at 1c on Wednesday, stated on JSE news service Sens on February 25 that the food business had been placed in business rescue to “stop the haemorrhaging of funds”. 

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