Stewart sentenced over insider trading

ASIC: Melbourne Man Sentenced for Insider Trading in Kidman Resources Takeover Case

The regulator said Duncan Stewart pleaded guilty last year to purchasing more than $130,000 worth of Kidman shares in April 2019 while holding confidential knowledge of Wesfarmers’ bid.  He sold the shares after the deal was announced publicly in May 2019, realising a profit of nearly $65,000. He was ordered to pay back the profit and will be released upon entering a two-year good behaviour bond, secured with a $10,000 recognisance.  Stewart als…

Stewart sentenced over insider trading

Duncan Stewart, the brother-in-law of then-Kidman chief executive Martin Donohue, has been sentenced for insider trading in relation to the Wesfarmers takeover of Kidman Resources.