Register
Professional Misconduct

Christopher Jordinson


Address: NSW, Australia
Age: 55
Sex: Male
Occupation: Company Director/Executive
Date: 26 November 2013


Details



The former chief executive of resources company UCL Resources Ltd (UCL) pleaded guilty on 26 November 2013 to insider trading which saw his nephew and two others profit close to $20,000.

Appearing in Sydney’s Downing Centre Local Court, Christopher Jordinson, 49, admitted to communicating inside information about a takeover of UCL earlier this year by Oman-based Mawarid Mining LLC to his nephew Joe Turner.

An ASIC investigation uncovered that in March 2013, Mr Jordinson told Mr Turner that UCL would announce it had received a takeover offer before the end of April 2013 and the price of UCL shares would be likely to rise.

Mr Turner passed on this information to another man, Jonathan Breen, along with money and instructions to buy UCL shares on his behalf. On 11 April 2013, Mr Breen bought 107,463 shares of UCL at a price of 13 cents per share for the benefit of himself, Mr Turner and another person. The takeover was announced on 23 April 2013 at a price of 31 cents per share and the men made a profit of about $20,000.