Alleged breach of two transactions in Australia mining executives checked O'Hanlon 21st Century Business Herald Tang Yao Dalian report 2011-09-15 00:31:34 Comments 0 read the news anytime, anywhere Core Tip: ASIC, said there is suspicion of insider trading Xiao Hui, the High Court of New South Wales issued temporary ban Xiao Hui in September 22 to leave Australia.
September 13, the Australian Securities and Investments Commission (hereinafter: ASIC), said Chinese enterprises in Sichuan Han Long Group, the Australian subsidiary of the Australian iron ore mining investment Hanlon Business Sundance Resources and uranium miner Bannerman Resources suspected of insider trading As part of the investigation, the agency froze mining Hanlon, Managing Director of Xiao Hui (Steven Xiao) and other executives of the assets was restricted exit.
O'Hanlon said the reporter group areas, group vice president of the company has sent to Australia to supervise the transition Kanghuan Jun, pending the outcome of the investigation, the three employees involved in the investigation is about to resign, and recently for this new announcement. However, Hanlon declined to give reasons for executives to be investigated.
September 14, an accountant in Sydney Mines told the reporter, Xiao Hui and others in connection with insider trading information for its own profit, and publishing false information about the suspect transaction.
Accused of alleged insider trading
ASIC said on its Web site, Xiao Hui with suspected insider dealing Bannerman and Sundance, New South Wales, Australia, September 12, the High Court issued the temporary ban Xiao Hui in September 22 to leave Australia.
July 11, Australian uranium producers Bannerman Resources announced, Chinese Dragon Mining has issued the company the amount of 144 million Australian dollars (about $ 154.9 million) takeover offer. A few days later, Chinese Dragon Mining ED also proposed a wholly-owned Sundance Resources offer a purchase price of A $ 0.5 per share, amounting to 1.4 billion Australian dollars (about $ 1.5 billion).
ASIC also frozen Xiao Hui, Chinese Dragon Mining vice president Zhu Bo Shi (Calvin Zhu) and Zhang Fan (transliteration, Fan Zhang) of the assets, and their implementation of travel restrictions. In addition, the agency also froze his wife Xiao Hui Hu Xi can (transliteration, Xike Hu), another employee Chen Fanfan (transliteration, FanFan Chen) and Wingatta Pty. Ltd. (Hereinafter referred to as Wingatta) assets. ASIC said Wingatta a relationship with Zhang Fan, the investigation still in its infancy. According to the newspaper reporter, Wingatta a similar nature of the investment fund company.
Local Judge Barrett (Reginald Barrett) that in order to investigate whether the alleged violation of Australia's Xiao Hui, "Company Law", ASIC presented convincing evidence.
Informed sources said O'Hanlon, executive director Zhang Fan is not only Wingatta, Zhu Bo Shi way through the curve has Wingatta trading account, Fanfan Chen is also a relationship with Wingatta.
ASIC has been found, Wingatta O'Hanlon use insider information acquired Sundance Sundance buying large margin, and the opening day of the announcement within an hour all the throws, net profit of close to 100 million.
Informed sources told this reporter, in Xiao Hui in March 2009 before joining the Chinese Dragon Mining, Bannerman and Sundance had been buying the stock, now hanging in the main these stocks wife Xiao Hui Hu Xi can name, and the use of Chinese Dragon The two companies mining investment news stock trading, large-scale bond trading.
The evidence also included in the Han Xi Hu Long Bannerman Mining launched officially announced the acquisition of information on the same day, on July 11, Bannerman sold all their stock accounts 266 500 hand, while buying time is a week ago. A few days later, Hanlon made a wholly-owned mining ED also offer Sundance a few days ago, Hu Xi can be bought Sundance has a large number of CFD (CFD).
"These transactions could reach $ 2 million net income." The source said.
The accountant in Sydney, said the investigation is still in its infancy, does not rule out further investigation into the possibility of Chinese Dragon Mining itself, because the number of Chinese dragon from overseas mineral mining acquisitions have caused people in the industry.
O'Hanlon mining from the bottom
According to the newspaper reporter, Chinese Dragon Mining in March 2009, incorporated in Australia, Xiao Hui and Zhu Bo Shi is the Chinese Dragon Mining's "golden pair", July 21, Xiao Hui had a wholly-owned Chinese Dragon Mining income
Matters relating to purchase of Sundance interview with this reporter, Zhu Bo Shi, accompanied but not speak.
Mining investment threshold is extremely high, and very professional, and unknown in the industry O'Hanlon mining. At first interview, Xiao Hui told reporters on that O'Hanlon is to become the world's leading mining companies.
With in-depth interview, Xiao Hui and admitted, "We are not a mining company, but a mining investment company."
A contact with Xiao Hui told reporters the industry, Xiao Hui of Hunan, has ten years of fund, the investment bank industry experience, is currently being applied in Hong Kong permanent residency, and in Australia there are nearly 200 million Australian dollars of mortgage .
Chinese Dragon Mining Other key management personnel to recruit almost entirely by Xiao Hui. Zhu Bo Shijia into the Chinese Dragon Mining previously worked at Credit Suisse, and involved with the Sundance-related business, the case for a deeper understanding of Sundance.
In addition, the vast majority of Chinese dragon and other mining executives engaged in investment-related industries, "Xiao Hui from PricewaterhouseCoopers, LLP, Goldman Sachs and other dug a number of people, all staff recruited locally from Australia", which , Zhu Bo Shi and Zhang Fan are Australian citizens.
Informed sources said the industry suspect Xiao Hui, Zhu Bo Shi, who use inside information on the Sundance and Bannerman launched a takeover bid, and there is false news pushed up shares of the suspects, but has yet to obtain evidence.
The source further said that the Chinese dragon in the Sundance initiated before the acquisition, "very likely" to use illegal means to suppress price, Sundance offer Hanlon Board is not satisfied.
Chinese dragon on a wholly-owned acquisition Sundance, Xiao Hui told the reporter said, "We think this is a baton of the game, may O'Hanlon took the first rod."
Chinese Dragon Group, an executive said, speaking from speculation, a wholly-owned acquisition of Sundance is a very cost-effective business, O'Hanlon did not intend to really have Sundance100% stake, "20%, 30% of the shares, is satisfied the. "
When the reporter asked O'Hanlon Bannerman uranium acquisition intent, Chairman Mr O'Hanlon interrupted Xiao Hui: "very sensitive, do not say this now."
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