The New Zealand Financial Markets Authority (FMA) today confirmed that Matthew Geoffrey Hill, the former chief executive of NZX-listed New Talisman Gold Mines Limited, has admitted making false and misleading statements in breach of the Financial Markets Conduct Act 2013 (FMCA). has violated.
The case relates to anonymous posts Mr Hill allegedly made about the company on the Sharetrader website's online investor forum. The FMA filed a civil lawsuit against Mr. Hill in August 2021.
The FMA alleges that between February 2013 and July 2020, Mr Hill made dozens of posts on Sharetrader in a thread about New Talisman under the two usernames “bullish” and “Epithermal”. Mr Hill, who is also a director and shareholder of New Talisman, never disclosed his involvement in the company, the FMA claims in the statement of claim.
Mr Hill admitted breaching section 22(d) of the FMCA. The parties have asked the court to set an agreed sentencing hearing at the High Court in Auckland in 2024.
The FMA will no longer pursue certain aspects of the original proceedings in connection with market manipulation.
New Talisman Gold was not involved in the proceedings.
Comments are closed.