Corp and Smith plead not guilty

Stuart Corp and Brian Smith have appeared in the Perth District Court, pleading not guilty to 145 charges lodged by the Commonwealth Director of Public Prosecutions in July. The charges, brought under the Corporations Act, the ASIC Act and the Crimes Act have arisen from an investigation by the Australian Securities and Investments Commission (ASIC) in Australia and overseas into the ownership of significant parcels of shares in two Australian public companies, Hallmark Gold NL (Hallmark Gold) (now called Tennant Creek Gold Limited) and Welcome Stranger Mining Company NL(Welcome Stranger) (now called Commsecure Limited). Messrs Corp and Smith are alleged to have:• engaged in conduct concerning the alleged undisclosed beneficial ownership of shares in Hallmark Gold and Welcome Stranger while they were directors of those companies;• warehoused shares through the use of offshore entities, and used those shares to vote on related party resolutions at general meetings of Hallmark Gold and/or Welcome Stranger which delivered them a benefit;• provided false and misleading information to ASIC and the Australian Stock Exchange in documents required to be lodged under the Corporations Law;• made false and misleading statements at compulsory ASIC examinations and obstructed or hindered ASIC during the course of its investigation; and • in relation to Mr Corp alone, that he procured another to destroy documents relating to the ASIC investigation.

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