Perthnow.com.au
Ex-Aluminex director caught in a court case
Edited by : AL CIRCLE
2 min read
The former director of Aluminex Resources Limited has been charged with providing false information to the Australian Securities Exchange.
David Alan Zohar, of Inglewood, appeared in the Perth Magistrate’s Court last week accused of misleading the ASX in relation to his company’s ability to meet the minimum requirements for listing.
If found guilty, Mr Zohar, who has been charged with three counts of providing false information, faces up to six years in jail.
Aluminex Resources Limited is a mining exploration company which held licenses to explore for bauxite and other base metals at tenements at Wandoo in the Chittering Valley, east of Perth.
When Aluminex was first admitted to the official list of the Australian Securities Exchange (ASX) in September 2008, it had sought to raise up to $10 million with a minimum subscription of $2.5 million.
However, in the following month it emerged the company was unable to satisfy the ASX that it had met the requirements for listing. It was suspended by the Australian Securities and Investments Commission (ASIC) on October 13, 2008 as a result.
A few weeks later on November 5, Aluminex announced it might not have received cleared funds in excess of the minimum subscription amount of $2.5 million.
ASIC intervened and ordered the company to refund all its subscribers.
Aluminex was then removed from the official list on July 31, 2009.
Mr Zohar was granted bail and the matter was adjourned for a committal mention at Perth Magistrates Court on August 15, 2012.
David Alan Zohar, of Inglewood, appeared in the Perth Magistrate’s Court last week accused of misleading the ASX in relation to his company’s ability to meet the minimum requirements for listing.
If found guilty, Mr Zohar, who has been charged with three counts of providing false information, faces up to six years in jail.
Aluminex Resources Limited is a mining exploration company which held licenses to explore for bauxite and other base metals at tenements at Wandoo in the Chittering Valley, east of Perth.
When Aluminex was first admitted to the official list of the Australian Securities Exchange (ASX) in September 2008, it had sought to raise up to $10 million with a minimum subscription of $2.5 million.
However, in the following month it emerged the company was unable to satisfy the ASX that it had met the requirements for listing. It was suspended by the Australian Securities and Investments Commission (ASIC) on October 13, 2008 as a result.
A few weeks later on November 5, Aluminex announced it might not have received cleared funds in excess of the minimum subscription amount of $2.5 million.
ASIC intervened and ordered the company to refund all its subscribers.
Aluminex was then removed from the official list on July 31, 2009.
Mr Zohar was granted bail and the matter was adjourned for a committal mention at Perth Magistrates Court on August 15, 2012.
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