This explains who one of the biggest losers in ICP have been.
"In the 12 months to 31st December 2007, the company lost $2.44 million from the disposal of trading investments, and today has determined that a further $5.44 million loss has been incurred as a result of the decline in world markets," Allegiance said in its December quarter report.
"Aside from the holding in Gullewa Ltd (which holds a 2.45 per cent stake in Allegiance and is 20 per cent owned by Allegiance), the company held shares with a market value of $0.76 million at 25 January 2008."
Also on Monday, iCash Payment Systems Ltd - one of the companies Allegiance is understood to have traded in - said the trading partically explained its recent share price volatility and price pressure.
Shares in iCash have sunk from about 10 cents mid December to close at six cents on Monday.
Whats going to happen now to the sp in ICP ?
STL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
