GEN - General - Monteagle Holdings Societe Anonyme - Media Release Announcement
JSE
GEN
GEN - General - Monteagle Holdings Societe Anonyme - Media Release Announcement
Media Release: 22 September 2009
The Directorate of Market Abuse investigated certain share transactions in
Marshall Monteagle Holdings Societe Anonyme Limited executed on 2, 3 and 10
October 2007, and 6 November 2007. It was decided that the matter should be
referred to the Enforcement Committee.
On 22 September 2009 the Enforcement Committee considered the matter. Mr Nathan
Lindsay Hittler, who held the office of managing director at the time, was
responsible for the transactions referred to above. The Enforcement Committee
determined that Mr Hittler contravened section 75 of the Securities Services
Act, No 36 of 2004. As a result the Committee imposed a penalty of R1 million
on Mr Hittler in his personal capacity.
On 4 April 2008 Mr Hittler caused the following SENS announcement to be
published:
"CORWIL INVESTMENTS LIMITED
DIRECTORS DEALINGS IN SECURITIES
In compliance with rules 3.63 - 3.74 of the JSE Listing Requirements, the
following information is disclosed.
Name of Director N Hittler
Date of transaction: 31 March 2008
Class of securities: Ordinary shares
Number of securities: 473 407
Price per share: R7.00 per share
Total value of transaction: R3 313 840.00
Nature of transaction: Purchase
Nature of interest: Indirect beneficial
Extent of interest: 11%
Clearance to deal was obtained at a board meeting held on 26 March 2008.
Johannesburg
4 April 2008
Sponsor
Arcay Moela Sponsors"
The Enforcement Committee found that this announcement amounted to a
contravention of section 76 of the Securities Services Act, in that it was
false. The Committee found that Mr Hittler negligently published a false
statement. As a result a penalty of R10 000 was imposed on Mr Hittler.
A transcript of the determination and the imposition of the penalties will be
available on the Financial Services Board website (www.fsb.co.za) shortly.
Note to editors
The Directorate of Market Abuse, a committee of the Financial Services Board,
was established to investigate alleged cases of market abuse on the South
African financial markets. Market abuse refers to insider trading, market
manipulation and the publication of false or misleading statements relating to
public companies.
Contraventions of any legislation administered by the Financial Services Board
may be referred to the Enforcement Committee, a statutory committee authorised
to impose administrative penalties, compensatory orders and cost orders, in such
cases.
-Ends-
Enquiries:
Please note that the Financial Services Board phone lines will only be
operational until 16:00 today, because of the relocation of the FSB.
Mr C K Chanetsa
Deputy Executive Officer: Investment Institutions
Tel: 012 367 7239
22 September 2009
Date: 22/09/2009 15:04:01 Produced by the JSE SENS Department.
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