Huntingdon crashes on return

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The Independent Online
SHARES IN Huntingdon Life, the troubled drug testing company, crashed 30 per cent yesterday on their first day of trading after a 10- day suspension.

The stock closed down 6p at 13.5p, the worst performer on the London stock market. The shares were restored to the list after Monday's announcement of a refinancing package which involves a pounds 20m cash injection from a group of investors.

As part of the package, which has to be approved by shareholders at an extraordinary meeting on 2 September, Andrew Baker, a 49-year-old accountant, will become executive chairman. Huntingdon has been targeted by animal rights groups and has attributed the loss of lucrative contracts on this adverse publicity.