Vaughan Garfield Bowen, of Brighton, Victoria, today appeared via his legal representative in the Melbourne Magistrates鈥� Court charged with two counts of insider trading.
The charges relate to Mr Bowen鈥檚 disposal of 5,617,554 shares in Vocus Group Limited (Vocus) on 4 June 2019.
ob体育 alleges that at that time, Mr Bowen was in possession of inside information concerning the likely withdrawal of a proposal by EQT Infrastructure IV Fund to acquire all shares in Vocus, prior to this information being announced to the market.
Each charge of insider trading carries a maximum penalty of 15 years鈥� imprisonment.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
The matter has been listed for a committal mention hearing in the Magistrates鈥� Court of Victoria at Melbourne on 7 December 2021.
Background
Insider trading is an offence under section 1043A of the Corporations Act.
Editor's note 1:
On 7 December 2021, the matter was adjourned for further committal mention to 17 February 2022.
Editor鈥檚 note 2:
On 17 February 2022, the committal mention was adjourned to 15 March 2022.
Editor's note 3:
On 15 March 2022, the matter was listed for a committal hearing to commence on 28 November 2022, for five days.
Editor's note 4:
The committal hearing concluded on 8 December 2022. A decision will be handed down on 21 December 2022.聽
Editor鈥檚 Note 5:
On 21 December 2022, following a contested committal hearing in the Magistrates鈥� Court at Melbourne, Mr Bowen was discharged.