/ 31 March 2000

FSB TARGETS 12 MORE COMPANIES

THE Financial Services Board has added another 12 investigations to its insider trading list, in an attempt to clamp down on irregular share dealings. According to the Business Day, the FSB has also referred one other case, which involves trades in information technology company Bryant Technologies, for legal action. Trading in the shares of companies recently in the spotlight include venture capital investment fund Legacy Ventures, IT company Spicer Holdings (two cases), hedge fund Mercury Alpha Capital (MAC) and investment trust Yabeng Investments. Others are clothing chain LA Retail Stores, financial services company Quyn Holdings, transport companies Tiger Wheels, Roadcorp and Mobile Industries, as well as IT company Bynx and venture capital mineral water manufacturer Essential Beverage Holdings.