Former Plexure Contractor Charged by the FMA

11/10/2017, 5:09 pm GENERAL

Former Plexure Contractor Charged by the FMA

Plexure Group Limited (NZX: PLX) has been informed that the Financial Markets Authority (FMA) has filed charges against a former contractor alleging breaches of the insider trading prohibitions contained in the Financial Markets Conduct Act 2013 and breaches of the disclosure requirements detailed in the Securities Markets Act 1988.

Plexure’s Chairman, Phil Norman, noted that the FMA action is directed only at one individual. Plexure is not itself involved in the court proceedings and its conduct is not the subject of the charges. The matter relates to events in 2014.

Mr Norman said the Company was disappointed to learn that the contractor, who’s consultancy finished in December 2014, was allegedly involved. The Company supports and endorses the FMA’s commitment to the integrity of the capital markets and has fully co-operated with the FMA throughout its investigation of this matter.

“As a listed company, we take our responsibilities very seriously and ensure that all our staff and contractors are aware of their disclosure obligations and understand the importance and consequences of the insider trading laws. Our Financial Product Trading Policy, which includes the Company’s approval requirements for all share trading by directors, Company officers, employees and contractors is regularly provided to that group”, said Mr Norman.

The Company will be making no comment on the FMA’s proceedings, which were matters before the Courts. Questions on this matter should be addressed to the FMA.

Phil Norman
Chairman