17 Dec 2009

Large parcels of Allied shares already sold

7:05 am on 17 December 2009

The Securities Commission says it found no evidence of market manipulation or insider trading following the sale of two large parcels of shares in Allied Farmers.

On Thursday, 353,000 shares changed hands, with the share price falling from 28 cents to 20 cents.

Another 1 million were sold at a similar price the next day.

In total, the shares accounted for about 3.5% of Allied Farmers stock.

The Commission says the sales came from one investor.