An investor in shell company AQL Holdings is believed to have made a quick few thousand dollars by dumping new shares just days after they were issued.
Eighteen million shares, more than 7 per cent of those on issue, changed hands yesterday at between 1.6c and 1.9c each.
The seller of the bulk of the script is understood to be the same investor who was issued with 22.8 million new shares at 1.5c last week as part of a capital-raising exercise.
Company secretary Ron Lunken said the shares were issued to finance an investigation into possible investments.
Mr Lunken said he was not aware of who the buyer was, or who was selling shares yesterday.
AQL shareholders include Peter Masfen and Eric Watson.
The firm, formerly Aquaria 21, reported a $13.6 million deficit for the June half year.
Quick buck from AQL share swing
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