Claim: On December 17, 2008, Allegiance received a bid from Ziniflex Australia Limited ("Ziniflex") at $0.90 cents per share, but the Board initially rejected this bid.
Evidence: On 17 December 2008, Allegiance received a bid from Ziniflex Australia Limited ("Ziniflex") at $0.90 cents per share (increased to $1.00 per share if the bid was successful). The Board initially rejected this bid, but on 22 February 2008, the Board recommended sharehodlers accept the increased offer of $1.10 per share, and accepted for all shares owned or controlled by Board members.