The Insider Trading Directorate has fined former Technology Communication Holdings CEO Adriaan Dubbelman R292 425.
Technology Communication Holdings, a holding company whose interests included electronic and technology magazine publishing, was delisted on 24 June 1999 after a buyout by Union Alliance Media.
Dubbelman was the majority owner with 72.6% of the shares.
The directorate originally reported towards the end of 2000 that it had referred for legal action its investigation into trades in the company`s shares.
"The settlement relates to share transactions conducted in January and February 1999," the directorate says.
"The settlement is entered into on the basis that Dubbelman admits liability without admission of criminal wrongdoing."
It adds that it will publish advertisements inviting claims from people who sold shares in Technology Communication Holdings on 21-22 January 1999, 26-29 January 1999, 1 February 1999, and 8-10 February 1999.
The company was delisted on 24 June 1999 after a buyout by Union Alliance Media.
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