THE housekeeping is almost complete for the new directors of Asset Backed Holdings with some of the last vestiges of the old Michael Perrott and Peter Huston regime being removed.
Troika Securities, a company linked to both Mr Perrott and Mr Huston and once the largest shareholder in Asset Backed Holdings, has sold nine million shares on the market, reaping $1.8 million and has ceased to be a substantial shareholder.
So to has Mandalup Investments which sold just over one million shares earning it $219,386.
Things have been positive for Asset Backed since Mark Caruso and Susmit Shah came onto its board to join David Argyle and Mr Perrott, Mr Huston, Ludger Kohmascher and company secretary Neils Kroyer all resigned.
In May its share price was down to nearly 10 cents. In October, when the board change occurred, its price hit about 27 cents before settling down to its current range of around 21.5 cents.
Asset Backed has a 32.6 per cent stake in public unlisted Christmas Island phosphate miner Phosphate Resources Limited.
