Stockholm, December 27, 2016– The Disciplinary Committee of Nasdaq Stockholm has found that Melitho AB (“Melitho”) has breached the rules of Nasdaq First North Bond Market (“the Rule Book”) and therefore decided that the company’s corporate bond is to be removed from Nasdaq First North Bond Market by February 28, 2017.
Melitho has failed to disclose information on numerous occasions, including financial reporting disclosures, and several irregularities have not been addressed despite repeated warnings from Melitho’s Certified Adviser and Nasdaq Stockholm. According to the Disciplinary Committee, Melitho has infringed rules 2.2.4, 4.1 (b), 4.2 (a), 4.2 (d), 4.3 (b), 4.3 (c), 4.6 (b), 4.6 (c), 4.6 (d), 4.9 and 4.10 (a) of the Rule Book. According to the Disciplinary Committee, Melitho has apparently lacked the requisite organization and resources for information disclosure.
The Disciplinary Committee also maintains that the repeated breaches of the Rule Book are undermining, and have undermined, public confidence in Nasdaq Stockholm, Nasdaq First North, and the securities market in general. That Melitho has taken measures in regard to its organization does not mean the Company can avoid disciplinary measures, according to the Disciplinary Committee. The number of breaches and poor organization demonstrated by Melitho represent both a serious violation of, and sign of disrespect for, the Rule Book. The Disciplinary Committee therefore makes the overall assessment that Melitho’s corporate bond is to be removed from trading by February 28, 2017.
A detailed description of the matter and the Disciplinary Committee’s decision is published at:
Participating in the Committee’s decision were former Supreme Court Justice Marianne Lundius, Supreme Court Justice Anne-Christine Lindeblad, MBA Ragnar Boman, Director Anders Oscarsson and Lawyer Wilhelm Lüning.
Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,700 listed companies with a market value of $9.3 trillion and 18,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com
Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, Nasdaq Clearing and Nasdaq Broker Services are respectively brand names for the regulated markets of Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd., Nasdaq Iceland hf., Nasdaq Riga, AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS, AB Nasdaq Vilnius, Nasdaq Clearing AB and Nasdaq Broker Services AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to factors detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
Media Relations Contact:
+46 8 405 61 35
Nasdaq Press Center
Read the latest press releases, request a press kit, and get in touch with our press team.