BC Iron Pays $66,000 Fine for Failure to Notify Public of Potential Takeover

SMH reported junior miner BC Iron (ASX:BCI) has paid a $66,000 fine after ASIC said the miner failed to inform the market of a potential takeover.

As quoted in the market news:

By paying the fine BCI has not accepted the allegation.

In a company announcement last week, BCI stated it did not believe it was obliged to disclose the information because it rejected that it would have impacted on its share price.

Click here to read the full SMH report.