The Insider Trading Directorate has referred for legal action its investigations into trade in Spicer shares.
The investigation relates to two incidents last year. One involves trade from 4-7 January (the share fell from 210c to 190c) and the other from 7-8 February (the share fell from 162c to 135c).
The Insider Trading Directorate, which is governed by the Financial Services Board, is empowered to issue a civil summons for up to three times the profit gained or losses avoided as a result of insider trading.
Directorate chairman Rob Barrow says the directorate does not investigate companies themselves, and the transactions it probes are not necessarily those of directors and management.
The directorate is currently investigating 31 cases. Among them are technology companies DNA Supply Chain Investments, ITI Technology Holdings, Ixchange Holdings, Spicer Holdings, Top Info Technology Holdings, Sempres International Technology Holdings, Global Technology and Metropolis Transactive Holdings.
Related stories:
Bryant share probe referred for legal action
Share
