Vic: Share trader in court for alleged insider trading

AAP General News (Australia)
04-10-2007
Vic: Share trader in court for alleged insider trading

A share trader appeared in a Melbourne court today .. charged with insider trading
relating to a Western Australian mining company.

45-year-old PETER WOODLAND .. of Frankston in Melbourne's south-east .. is contesting
17 charges of insider trading at a committal hearing at Melbourne Magistrates' Court.

The Australian Securities and Investments Commission alleges WOODLAND traded securities
in Kanowna Consolidated Gold Mines .. now known as Andean Resources Limited .. five times
in November and December 2003.

ASIC alleges he had insider knowledge of the company's acquisition of the Cerro Negro
gold mining project in Argentina .. before it was made public in December 2003.

ASIC also alleges WOODLAND passed his inside knowledge onto people he met through the
internet-based financial services chat site .. Hotcopper.

Magistrate PETER MEALY has adjourned the hearing until tomorrow.

AAP RTV mj/mh/af/wf

KEYWORD: WOODLAND (MELBOURNE)

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