Stockholm, July 27, 2011 - The Disciplinary Committee of NASDAQ OMX Stockholm AB (the "Exchange") has ruled that the listed company Holmen AB ("Holmen") has breached the Exchange’s rules and regulations governing public information and the disclosure of information to the stock market.
The case concerns Holmen’s violation of rule 3.1.5 in the Rulebook. According to the ruling Holmen has failed to disclose its quarterly report for the first quarter of 2011 in a non-discriminatory matter as the report was available on the company website before it had been disclosed to the public through a press release.
Based on an overall assessment of the circumstances the Disciplinary Committee considers the breach of a less serious nature and therefore gives Holmen a warning.
A more detailed description of the case and the Disciplinary Committee’s decision is published on: http://nasdaqomx.com/listingcenter/nordicmarket/surveillance/stockholm/disciplinarycommittee
About the Disciplinary Committee
The role of NASDAQ OMX Stockholm’s Disciplinary Committee is to consider suspicions regarding whether Exchange Members or listed companies have breached the rules and regulations applying on the Exchange. If NASDAQ OMX Stockholm suspects that a member or a listed company has acted in breach of NASDAQ OMX Stockholm’s rules and regulations, the matter is reported to the Disciplinary Committee. NASDAQ OMX Stockholm investigates the suspicions and pursues the matter and the Disciplinary Committee issues a ruling regarding possible sanctions. The sanctions possible for listed companies are a warning, a fine or delisting. The fines that may be imposed range from one to 15 annual fees. The sanctions possible for Exchange Members are a warning, a fine or debarment. Fines paid are not included in the Exchange’s business but are attributed to a foundation supporting research in the securities market. The Disciplinary Committee's Chairman and Deputy Chairman must be lawyers with experience of serving as judges. At least two of the other members of the Committee must have in-depth insight into the workings of the securities market.
Members: Former Supreme Court Justice Johan Munck (Chairman), Supreme Court Justice Marianne Lundius (Deputy Chairman), Professor emirita Madeleine Leijonhufvud, Company Director Stefan Erneholm and Company Director Anders Oscarsson. Deputies: Former Authorized Public Accountant Bo Magnusson, Lawyer Wilhelm Lüning, Company Director Jack Junel, Ragnar Boman (MBA) and Carl Johan Högbom (MBA).
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