Friday 13 April 2007 LAWFUEL – Australia Law Newswire – Melbourne sharetrader, Mr Peter Robert Woodland, will stand trial in the County Court of Victoria after pleading not guilty yesterday to 17 counts of insider trading brought by the Australian Securities and Investments Commission (ASIC). Mr Woodland, of Frankston, Victoria, was committed to stand trial following ASIC allegations he committed five offences of insider trading when he conducted a number of trades in the securities of Western Australian mining company, Andean Resources Limited (formerly known as Kanowna Consolidated Gold Mines Limited) between November and December 2003.
ASIC also alleges Mr Woodland was in possession of inside information prior to an announcement to the public on 10 December 2003 regarding Kanowna’s acquisition of the Cerro Negro gold mine project. It is further alleged that Mr Woodland committed twelve counts of communicating inside information to others at a time when it was not generally available to the public. Mr Woodland’s bail was extended and he will next appear in the County Court of Victoria on 21 June, 2007. ASIC originally received a referral from the Australian Securities Exchange arising from routine monitoring of internet based chat rooms. The Commonwealth Director of Public Prosecutions is prosecuting the matter. For further information contact: Emma Forehan ASIC Media Unit Telephone: 03 9280 3354 Mobile: 0409 702 310