Former G8 chairperson Jenny Hutson appears in court

THE former head of Australia’s largest listed childcare operator faces a raft of charges related to a failed takeover bid in 2015. Some of the charges carry a penalty of 25 years in jail.

Jenny Hutson, former chairperson of G8, is facing a raft of charges brought by ASIC. Picture: Richard Gosling

THE former chairperson of Gold Coast childcare operator - G8 Education - has appeared in court charged with breaches of the Corporations and Crimes Acts.

The Australian Securities and Investments Commission said Jennifer Joan Hutson, 50, faces 30 charges, related to her time as chairperson when G8 attempted a hostile takeover of Affinity Education.

In October, 2015, the Takeovers Panel made a declaration of unacceptable circumstances in relation to the takeover bids.

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The charges brought by ASIC include ten counts of authorising the giving of false or misleading information to an operator of a financial market and fifteen counts of giving false or misleading information under section 64 of the ASIC Act.

She also faces two counts of attempting to pervert the course of justice under section 43 of the Crimes Act, which carries a maximum sentence of twenty five years’ imprisonment.

Ms Hutson, who resigned as chairperson of G8 in October, 2015, appeared in Brisbane Magistrates Court today to face the charges.

The charges have been listed for mention on June 8.

She has vowed to defend the case.

Jenny Hutson is facing a raft of charges brought by ASIC. Picture: Richard Gosling

Gold Coast-based G8 has stressed that no allegations have been made against the company or any current board members or staff.

In 2015 Affinity shareholders voted in favour of a takeover by Anchorage Capital Partners. The vote marked an end to a bitter tug of war between the childcare operator and G8 Education.

G8 began buying shares in Affinity early in 2015 and by July lobbed a hostile takeover tilt, with a 70¢-a-share bid.

It later increased to 80¢-a-share, valuing Affinity at $185 million.

A messy battle ensued after G8 argued Affinity shareholders would not get a better deal.

But Anchorage countered with a 90¢-a-share offer and then in September sweetened it with a 92¢-a-share offer, trumping the bid from G8.