Insider Dealing: UK’s Financial Services Authority Prosecutes Mr Malcolm Calvert

Mr Malcolm Calvert of Cobham, Surrey, date of birth 13 October 1944, today appeared at the City of Westminster Magistrates' Court, on charges of insider dealing contrary to section 52 of the Criminal Justice Act 1993.

Mr Calvert has been charged with the following offences:

1. Between the 23rd day of April 2003 and the 26th day of April 2003, having inside information which related to a proposed takeover of HP Bulmer plc, acquired 110,000 ordinary shares in HP Bulmer plc.
2. On the 18th day of June 2003, having inside information which related to a proposed management buyout of Macdonald Hotels plc, acquired 100,000 ordinary shares in Macdonald Hotels plc.
3. On the 15th day of July 2003, having inside information which related to a proposed management buyout of Macdonald Hotels plc, acquired 10,000 ordinary shares in Macdonald Hotels plc.
4. On the 17th day of July 2003, having inside information which related to a proposed management buyout of Macdonald Hotels plc, acquired 5,000 ordinary shares in Macdonald Hotels plc.
5. On the 18th day of July 2003, having inside information which related to a proposed management buyout of Macdonald Hotels plc, acquired 5,000 ordinary shares in Macdonald Hotels plc.
6. On the 21st day of July 2003, having inside information which related to a proposed management buyout of Macdonald Hotels plc, acquired 5,000 ordinary shares in Macdonald Hotels plc.
7. On the 24th day of June 2003, having inside information which related to a proposed merger between Vernalis plc and British Biotech plc, acquired 30,000 ordinary shares in Vernalis plc.
8. On the 26th day of June 2003, having inside information which related to a proposed merger between Vernalis plc and British Biotech plc, acquired 40,000 ordinary shares in Vernalis plc.
9. On the 23rd day of August 2004, having inside information which related to a proposed takeover of Johnston Group plc, acquired 50,000 ordinary shares in Johnston Group plc.
10. On the 18th day of October 2004, having inside information which related to a proposed takeover of South Staffordshire plc, acquired 3,000 ordinary shares in South Staffordshire plc.
11. On the 18th day of October 2004, having inside information which related to a proposed takeover of South Staffordshire plc, acquired 27,500 ordinary shares in South Staffordshire plc.
12. On the 8th day of March 2005, having inside information which related to a proposed takeover of RAC plc, acquired 40,000 ordinary shares in RAC plc.

Mr Calvert indicated a plea of not guilty. The court declined jurisdiction and held that the case was suitable for trial on indictment. Proceedings were adjourned until 11 September 2008 and Mr Calvert was remanded on conditional bail.