Techniche blames oversight for ASX rule breach

Techniche Security and Surveillance (ASX:TCN) blamed an administrative oversight for the fact that it failed to inform the market of a change in a director’s stake in the company in a timely fashion.

The company lodged a change in director’s interest notice on March 19, informing investors that director Karl Jacoby purchased $3,269.43 worth of shares on-market in November.

Under ASX listing rules, companies must inform the market of such a change within five business days.

Techniche said the holding represents less than 0.3% of Jacoby’s shareholding in the company. But it added that it had made arrangements to ensure a breach did not happen again.