Mr Mark Douglas Chatfield of South Perth, Western Australia, appeared in the Brisbane Magistrates' Court yesterday and was committed to stand trial in the Brisbane District Court following an investigation by ASIC.

Mr Chatfield, 54, is charged with dishonestly using his position as CEO of CS Energy Limited (CS Energy) with the intention of indirectly gaining an advantage for himself. CS Energy is a government owned corporation and owns and operates power stations in Queensland.

ASIC alleges that on 15 January 2007, Mr Chatfield applied for 60,000 shares in the float of Perth-based PearlStreet Limited, holding company of PearlStreet ETRS Pty Ltd, at a time when Mr Chatfield was aware that the Board of CS Energy had resolved to enter into a contract with PearlStreet ETRS Pty Ltd.

The shares were subscribed for by Mr Chatfield for $30,000 before PearlStreet Limited announced a five-year, $2.8 million contract with CS Energy on 12 April 2007. This contract concerned the provision of non-destructive testing by PearlStreet ETRS Pty Ltd for CS Energy power stations.

Mr Chatfield stood down as head of CS Energy in May 2007.

The trial will be heard in the Brisbane District Court on a date to be fixed.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.