MacCormick enters not guilty plea

Perth company director Malcolm MacCormick has pleaded not guilty in the Magistrates Court over an insider trading charge.

Late last year, Mr MacCormick was charged by the Australian Securities and Investment Commission over the alleged trading of shares in ASX-listed company Walter Diversified Services.

In 2007, the MacCormick family sold its engineering and tunnelling business, DJ&MB MacCormick Civil Engineering, which Mr MacCormick was a director of, to Walter for $35 million.

ASIC alleges that Mr MacCormick had insider information when he bought shares in Walter shortly before an announcement was made about the deal.

Mr MacCormick remains on bail.

A trial date in the Supreme Court of Western Australia has been set for late August.