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Two new ones

13 December 2004 Angelo Coppola

The Insider Trading Directorate (ITD) held its twenty-ninth meeting at the Financial Services Board (FSB) recently.

Two new cases, namely investigations into share transactions in Intervid Limited during May 2003 to March 2004 and McCarthy Limited during October 2003 to November 2003 have been added to the investigation list.

The investigations into share transactions in Amalgamated Appliance Holdings Limited and Primedia Limited were closed.

There are nine cases currently under investigation.

The Act empowers the FSB to issue a civil summons against alleged offenders for up to three times the profit gained, or the losses avoided as a result of unlawful insider trading.

The Act prohibits any individual from dealing in any security or financial instrument if he or she knows that he or she has inside information. It also prohibits such a person from encouraging or discouraging any other person from dealing in the share, or from disclosing the inside information.

1. Amalgamated Appliance Holdings Limited AMA 07/2004 Closed

2. CS Computer Services Holdings Limited CSH 04/2004 Ongoing

New 3. Intervid Limited ITV 05/2003-03/2004 Ongoing

New 4. McCarthy Limited MCC 10/2003-11/2003 Ongoing

5. Omega Alpha International Info Technology Holdings Limited OAI

11/05/2001-23/05/2001 Ongoing

6. Primedia Limited PRI 01/11/2000-31/12/2000 Closed

7. Redefine Income Fund Limited RDF 06/2003-07/2003 Ongoing

8. Relyant Retail Limited RLY 05/2004 Ongoing

9. Sempres International Technology Holdings Limited SEM

10/05/2001-25/05/2001 Ongoing

10. Wetherlys Investment Holdings Limited WET

21/07/2003-25/07/2003 Ongoing

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