The New Zealand Financial Markets Authority (FMA) today confirmed that Matthew Geoffrey Hill, former chief executive of New Talisman Gold Mines Limited, which is listed on the New Zealand Exchange (NZX), has admitted making false and misleading statements in breach of the Financial Market Conduct Act 2013 (FMCA).。

The case is linked to claims by the FMA that Mr Hill made anonymous posts about the company on an online investor forum on the Sharerader website, which brought a civil suit against Mr Hill in August 2021.。

According to the Federal Financial Markets Authority, between February 2013 and July 2020, Hill posted dozens of posts about New Talisman on the Sharetracker website under the usernames "bulb" and "epithermal."。Hill is also a director and shareholder of New Talisman, but he did not disclose his involvement in the company at any time.。

Hill has admitted breaching section 22 (d) of the Financial Markets Management Act, and the parties have asked the court to convene an agreement penalty hearing in Auckland High Court in 2024.。

The Federal Financial Markets Authority (FMA) will no longer pursue the original lawsuit related to market manipulation.。New Talisman Gold Mining Company was not involved in the lawsuit。