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Source: Reuters -
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The board of Allied Farmers says it is unaware of the buyer or seller of a large parcel of its shares on Thursday, when the price of the stock fell 8c to 20c.
On Tuesday Allied Farmers shareholders voted in favour of a plan to buy the assets of failed finance company Hanover, in a deal valued at $396 million.
The meeting passed a resolution to approve the purchase by Allied Farmers Investments of the finance assets of Hanover Finance and United Finance and a resolution to issue new Allied Farmers' shares as consideration.
The deal also needs the approval of 75% of investors who put their money into financial products sold by Hanover and United.
That vote is next Wednesday.
Data from the stock exchange shows about 350,000 Allied Farmers shares changed hands on Thursday.
In a statement, the Allied Farmers board has listed matters it considered to be price sensitive for its shares, pointing out it has already advised the market of those issues.
There are no other price sensitive matters that the board considers should be disclosed to the market now under listing rules, the company says.
In the first hour of trading on Friday, shares in Allied Farmers were unchanged at 20c.
