Australia's TerraCom falls after corporate regulator starts civil proceedings

Terracom

01/03/2023 24:48

** Shares of TerraCom Ltd  TER.AX  slide as much as 4.6% to
A$0.725 - on track for worst day since Feb 20, if current losses
hold
    ** Coal miner says Australia's corporate regulator commenced
civil proceedings against co, and current and former directors
and officers   
    ** Proceedings relate to disclosures made by co with respect
to former employee in early 2020 and alleged breaches of
whistleblower provisions 
    ** Co says it will contest the proceedings
    ** Stock down 18.8% this year, as of last close


 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))