Perth company director David Alan Zohar has pleaded guilty to three counts of providing false and misleading information to the Australian Securities Exchange.
The charges related to his involvement in listing the former bauxite and base minerals exploration company Aluminex Resources on the ASX in September 2008.
Mr Zohar’s guilty plea follows his recent resignation from the boards of exploration companies Iron Mountain Mining, Red River Resources, Elysium Resources and Eagle Nickel.
Aluminex Resources was suspended from trading within a month of it listing in 2008 and ordered to make full refunds to all share owners because it did not meet the requirements for listing.
In Septmeber 2008, Aluminex Resources said it had reached its minimum subscription level of $2.5 million after extending a deadline for late applications for its initial public offering.
However, after its suspension it announced in November that it might not have received cleared funds in excess of the $2.5 million minimum subscription amount specified in its prospectus.
This resulted in the Australian Securities and Investments Commission requiring it to refund all who had subscribed for shares.
In its short life on the ASX, Aluminex Resources shares never traded above 15 cents after being offered at 40 cents each.
Mr Zohar resigned as director of Red River Resources and as director of Iron Mountain Mining on February 11.
Last year he resigned as director of Eagle Nickel (January 31) and as director of Elysium Resources (February 18).
Four months after Aluminex Resources was officially delisted from the ASX in July 2009 it was bought by Iron Mountain Mining, including its bauxite tenements at Wandoo, east of Perth.
One month later, Iron Mountain Mining repaid almost $950,000 to Eagle Nickel for a loan it had provided Aluminex Resources.
Mr Zohar, who is on bail, will appear at the Perth District Court on March 28 for a sentence hearing.
Each charge carries a maximum sentence of five years' imprisonment.
