Listed company, Natural Fuel Ltd has been fined and convicted for failing to lodge financial reports with the Australian Securities and Investments Commission (ASIC).

Natural Fuel Ltd, based in Western Australia, was fined $16,500 after pleading guilty in Perth Magistrates Court on 15 August 2014 to 11 ASIC charges for failing to:

• lodge half-year reports with either ASIC or the ASX between 2009 and 2012

• lodge annual reports with either ASIC or the ASX between 2010 and 2012, and

• hold annual general meetings between 2009 and 2012.

Commissioner Greg Tanzer said, 'Any company with a legal obligation to lodge financial reports and hold annual general meetings should obey the law.

'These reports and meetings are not only crucial to the integrity of our market, but also used by investors, employees and creditors to help them make informed decisions.

'Over the last 12 months, ASIC has prosecuted eight companies for 68 offences with outcomes ranging from good behaviour bonds to fines of up to $25,000', Mr Tanzer said.

The Commonwealth Director of Public Prosecutions prosecuted the matter.