Steve Noske.
APA Group’s WA general manager Steve Noske faces a committal hearing on insider trading charges in March after a hearing yesterday was adjourned.
Mr Noske, the former boss of oil and gas juniors Bass Oil and WHL Energy, faces a maximum jail term of 10 years or a fine of up to $550,000 over allegations he traded on inside information about LNG Ltd’s 2012 bid for Westside Corporation.
The charge relates to the purchase of 750,000 Westside Corporation shares via a trading account associated with Mr Noske in February 2012, according to the Australian Securities and Investments Commission.
ASIC, which brought the charges in mid-2015, alleges Mr Noske traded while in possession of inside information relating to the proposed takeover transaction. It is alleged he made a notional profit of $182,430 as a result.
On February 13 2012 Westside Corporation announced it had received a cash bid from an unnamed suitor
Steve Noske.
