 |
|
 |
|
14 November 2000
News Release
INSIDER TRADING INQUIRIES
E-PHONE LIMITED and SPECTRUM RESOURCES LIMITED
The Securities Commission has completed reviews of trading in the shares of two companies listed on the New Zealand Stock Exchange.
The first related to E-Phone Limited and its announcement on 13 July that it had formed a strategic alliance with NCR and Hewlett Packard. Shortly ahead of this announcement the price of E-Phone shares rose from 25 cents to 34 cents on substantially higher volume.
The second inquiry related to Spectrum Resources Limited. Late last year the company announced that it was to become an e-commerce company which represented a change of direction in business. This was followed by announcements this year that it had acquired WEL Technology Limited and that the pending appointment of a new CEO would not proceed.
The Commission has examined trading ahead of each of these announcements. It has not established that persons who traded shares in the companies in the period of the inquiries were in possession of inside information.
John Farrell
Chief Executive
About
|
Publications
|
Notices
|
What's new?
|
International
|
Speeches
|
Site map
Search
|
Information for investors
|
Contact us
|
Accessibility
Disclaimer
Copyright
|
Privacy
|
newzealand.govt.nz
|
Home
© Copyright New Zealand Securities Commission