The Insider Trading directorate has closed its investigations into share transactions in Grintek and DNA Supply Chain Investments.
The directorate says it closes its probes once it becomes evident there is either no evidence or insufficient evidence to warrant action in terms of the Insider Trading Act.
The closure brings the cases being investigated to eight, three of which involve the shares of technology companies: Omega Alpha International, Sempres IT Holdings and Top Info Holdings.
The other companies on the list are Carson Holdings, Hosken Consolidated Investments, Primedia, Redefine Income Fund and Specialised Outsourcing.
The directorate says the investigations are not into the affairs of the companies, but into trading in shares on the stock exchange.
The Insider Trading Act empowers the Financial Services Board (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 also classes insider trading as a criminal offence and the director of public prosecutions may institute action. To date, while several settlements have been reached with the FSB, there has not been a successful prosecution in terms of the Act.
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