Business

Mar 4, 2008

Allco share price drops to all time low

Allco founder David Coe and directors Gordon Fell and David Turnbull announced yesterday that they are standing down, but not leaving the company just yet, and the share price dropped 25% to an all time low of 60 cents.

Allco founder David Coe and directors Gordon Fell and David Turnbull announced yesterday that they are standing down, but not leaving the company just yet, and the share price dropped 25% to an all time low of 60 cents.

Coe told the The Australian he was “personally devastated” by the recent events and in this morning’s Fin Review he blamed a “perfect storm” for Allco’s demise. How original! Blame the markets rather than himself and his fellow incompetents.

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