• AST ASIC said former listed company director of Copper Strike Ltd was charged in AST Court with failing to disclose interests as well as providing false information to ASX.

Background

• AST ASIC said that failure by a director to disclose all of their interests, or providing misleading disclosures re their interests, in a way that is contrary to ASX reporting requirements, can give rise to a number of offenses under the Corporations act.
• Providing false information to ASX is an offense; providing false/misleading data in annual financial statements is offense; providing false information can be an offense.
• Explained that at the time of the alleged conduct, a breach of relevant provisions attracted a maximum penalty of 200 penalty units or jail for five years, or both.

Charges

• Mr Harry Hatch (Hatgikyriazis) appeared in AST Court charged with multiple offenses relating to his time as director of the listed company, charged with the following.
• Three counts of failing to take reasonable steps to comply with disclosing his interests in shares of a publicly listed firm; two counts of making available or giving false data.
• He had made available or gave false information in a document lodged with ASX.
• One count of making a false/misleading statement in form submitted to Copper Strike.
• AST ASIC alleges that in the period 17 July 2016 to January 2020, he failed to disclose his relevant interests in Copper Strike shares as required under the Corporations act.

Effectiveness

• The matter was adjourned for a committal mention on 18 August 2023 at AST Court.