U.K. GOVERNMENT ISSUES INSIDER DEALING SUMMONS
The Department of Trade and Industry,
DTI, has issued insider dealing charges against a former
employee of British and Commonwealth Shipping Co Plc <BCOM.L>,
a DTI statement said.
    DTI is charging Ronald Richard Jenkins, until recently
employed by British and Commonwealth's subsidiary Cayzer Irvine
and Co Ltd. He is to appear April 27 in a London court.
    The summons is the second insider dealing prosecution
launched by the government under recent legislation.
    The charges allege two insider dealing offences in
securities of B and C and <Steel Brothers Holdings Plc>.
    A DTI spokesman said plans to prosecute follow a probe into
the matter since mid-December by a lawyer and a London Stock
Exchange official who were officially appointed by the DTI as
inspectors.
    In November, B and C said an unnamed employee had resigned
after he was discovered buying shares in Steel Brothers just
before B and C announced an agreed bid for the 55 pct of Steel
which it did not already own.
    The attempted trade, which was subsequently cancelled,
covered 2,500 Steel shares purchase at 595p compared with a bid
price at 630p.
 Reuter
