Newcrest Mining has launched an external review after weeks of pressure over its disclosure record.
杭州桑拿

The gold miner announced today that former ASX chairman Maurice Newman AC would be hired to conduct a review of Newcrest’s investor relations division and its adherence to disclosure obligations.

The move comes despite Newcrest insisting for several weeks that it did not reveal market sensitive information to analysts in the days prior to a major corporate restructure on June 7.

Newcrest chair Don Mercer said the review would be asked to make recommendations into possible improvements or changes the company should be making.

Mr Mercer said he expects the review to take ”a couple of months”.

Those likely to be scrutinised most are Newcrest’s investor relations officers Spencer Cole and Steve Warner, as well as chief executive Greg Robinson.

Mr Newman’s inquiry will run parallel to the investigations already underway by market regulators at the Australian Securities and Investments Commission and the Australian Securities Exchange.

Mr Newman said he was a shareholder in Newcrest, yet would be an independent scrutineer of the events.

Mr Robinson has vowed that Newcrest employees will cooperate fully with those reviews.

Mr Mercer said his board was already reviewing the events of June 7, but the board decided to also “obtain an independent perspective” from Mr Newman.

Apart from the ABC, Mr Newman was chair of the ASX and was involved in the tertiary education sector as well as investment banking.

Newcrest executives will address the media this afternoon.

The original release of this article first appeared on the website of Hangzhou Night Net.

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