ASIC eyes DJs share buys

ASIC investigating purchase of shares by two directors prior to upbeat sales.

The Australian Securities and Investments Commission is reviewing emails between David Jones (DJS) chairman Peter Mason and a pair of non-executive directors given approval to buy shares int he company just prior to the retailer unveiling its first sales growth in nine months, The Australian Financial Review reports.

According to the AFR, the corporate watchdog has already conducted interviews with several David Jones directors as part of an investigation into the share purchases of non-executive directors Steve Vamos and Leigh Clapham.

ASIC is reportedly aiming to determine what information the pair had about the retailer's sale numbers when the shares were made.

"We are aware that ASIC is looking into the matter," Mr Mason told the AFR.

"We approached ASIC ourselves informally when this matter became a subject of press comment."

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