Finance director and two lawyers charged with insider dealing
16th June 2009Andrew King, a finance director, and Michael Mcfall and Andrew Rimmington, both lawyers, appeared today at City of Westminster Magistrates' Court charged with 8 counts of insider dealing, contrary to section 52 of the Criminal Justice Act 1993.
Andrew King is charged with:
- Disclosing inside information relating to the proposed takeover of Neutec Pharma plc (the "inside information") to Michael McFall, having had that inside information by virtue of being Neutec Pharma plc's finance director, and disclosing it to Michael McFall other than in the proper performance of his job.
Michael McFall is charged with:
- Disclosing the inside information to Andrew Rimmington; and
- on three separate occasions, acquiring a total of 3955 shares in Neutec Pharma plc on the basis of the inside information.
Andrew Rimmington is charged with:
- on three separate occasions, acquiring a total of 6961 shares in Neutec Pharma plc on the basis of the inside information.
Michael McFall and Andrew Rimmington are charged jointly with:
- acquiring 3012 shares in Neutec Pharma plc on the basis of the inside information.
Proceedings were adjourned until 28 July 2009 when the Magistrates will consider committal to the Crown Court for trial. All three accused were granted unconditional bail.
