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Forafric Global Strategically Expands into Food Security, Defense, and Energy Infrastructure
Forafric Global announced a strategic expansion of its business beyond its core agribusiness operations to position itself at the intersection of three high-growth sectors: food security, defense and energy infrastructure. This shift is designed to broaden the Company's role within sectors that are increasingly central to economic resilience, national security and long-term development and ultimately expand its revenue base, strengthen its long-term growth profile and leverage its established operational footprint across Middle East, Africa and international markets.
Forafric Global PLC Trading Halted Due to Volatility Trading Pause
Forafric Global PLC trading halted, volatility trading pause
Forafric appoints Khalid Assari as chairman of the board
Forafric Global announced that Khalid Assari, the CEO of the Company, has been appointed as Chairman of the Board. Assari replaces Saad Bendidi.
Forafric to divest non-core assets for $80M-$100M
Forafric announced that it has adopted a new balance sheet strengthening strategy with a Morocco and soft wheat focus. As part of this initiative, the company is divesting non-core assets: assets outside of Morocco, durum wheat focused businesses and logistics activities in Morocco. The company estimates that this divestment program will generate gross proceeds of between $80M and $100M.
Forafric announces Nasdaq compliance status
Forafric Global announced that on January 14, 2025, it received written notice from the listing qualifications department of The Nasdaq Stock Market stating that since the Company has not yet filed a Form 6-K containing an interim balance sheet and income statement as of the end of its second quarter by December 31, 2024, the Company was not in compliance with Listing Rule 5250.
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