- Pan Pacific Aggregates has put out a business update following volatility in its share price.

The company said that following an inaccurate article previously reported in the media, it wanted to confirm that it was not currently in talks over an acquisition - although it would continue to look at opportunities as they arose.

The company also revealed that it was holding talks with chief executive William Voaden about him stepping down from the board for personal reasons.

It is proposed that, going forward, Voaden will provide consultancy services to the company's subsidiaries with a specific focus on operations in Canada.

The company says it is reviewing the ongoing constitution of the board and will update shareholders in the near future.

In addition, company said the board was aware of the wide spread in the share price and the significant number of shares in issue and was considering a share consolidation of 1 new ordinary share for every 100 existing ordinary shares in issue.

And it said the board is in discussions over a financing facility with a third party financial institution.

At 4:26pm: [LON:PPA] share price was +0.01p at 0.07p

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