The CS Holdings share had lost almost 13% this morning amid investigations by shareholders into allegations of wrongdoing.
The share lost 9c to trade at 61c this morning after 131 800 shares changed hands in seven deals.
Shareholders Reunert and Worldwide Africa Investment Holdings, which collectively have a shareholding of 56.7%, announced yesterday that they had launched a high-level investigation into the allegations, which surfaced on Moneyweb`s Classic Business radio programme last week.
It is contended that CS Holdings artificially boosted its profits by selling an asset for R18 million after acquiring it for R2.5 million and then reversed the sale after its financial results were published.
There are also allegations of a conflict of interest, relating to the involvement in the deal of CS Holdings CEO Annette van der Laan`s ex-husband, Hans van der Laan.
Reunert and Worldwide Africa say that a team consisting of senior executives from both companies began a probe into the allegations yesterday morning.
They say the investigation should be completed in the next few days, but are declining to comment further until that probe has ended.
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