Dr Jeffery James Bateson, a former director of WHL Energy Ltd (WHL), has appeared in Sydney's Downing Centre Local Court on insider trading charges brought by Australian Securities & Investments Commission (ASIC).

Dr Bateson of Leura, New South Wales, has been charged with 12 contraventions of s1043A of the Corporations Act 2001 following an ASIC investigation into trading allegedly arranged by Dr Bateson in WHL shares during May 2008.

ASIC alleges that between 11 and 16 May 2008 Dr Bateson, while in possession of inside information, procured a nominee company acting on behalf of his superannuation fund to purchase shares in WHL for the benefit of his fund.

The alleged inside information related to a joint venture agreement proposal that WHL had not, at the time of trading, publically announced. Dr Bateson was at the time a director of WHL (then known as Wind Hydrogen Ltd).

The matter is next before the court on 3 August 2010.

The charges each carry a maximum penalty of 5 years imprisonment, a $220,000 fine, or both.