Stockholm, September 14, 2018 — The Disciplinary Committee of Nasdaq Stockholm has found that Oscar Properties Holding AB (“Oscar Properties” or the “Company”) has breached Nasdaq Stockholm’s Rule Book for Issuers (the “Rule Book”) and, accordingly, has imposed a fine on Oscar Properties amounting to two annual fees, corresponding to an amount of SEK 410,000.
The Disciplinary Committee has found that Oscar Properties has breached Section 3.1 of the Rule Book by failing to disclose, as soon as possible, information regarding the arrest of the Company’s Chairman on September 26, 2017, as well as information about the suspicion of aggravated insider trading by the Chairman.
Moreover, the Disciplinary Committee has found that Oscar Properties has contravened Section 3.3.6 in combination with Sections 3.3.1 and 3.1 of the Rule Book by failing to disclose sufficiently comprehensive information regarding the underlying reason behind a forecast adjustment published by the Company on October 23, 2017.
The Disciplinary Committee takes a particularly serious view of thebreaches as the Disciplinary Committee previously has criticized the Company in another matter regarding inadequate information disclosure (see the Disciplinary Committee’s decision 2017:03). The Disciplinary Committee therefore has decided to impose a sanction corresponding to two annual fees.
A detailed description of the matter and the Disciplinary Committee’s decision is available at:
Participating in the Committee’s decision were former Supreme Court Justice Marianne Lundius, MBA Ragnar Boman, Authorized Public Accountant Svante Forsberg, Company Director Carl Johan Högbom and Company Director Jack Junel.
About the Disciplinary Committee
The role of Nasdaq 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 the Exchange suspects that a member or company has acted in breach of the rules, the matter is referred to the Disciplinary Committee. Nasdaq 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 levied by the Disciplinary Committee are not credited to 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 Marianne Lundius (Chairman), Supreme Court Justice Ann-Christine Lindeblad (Deputy Chairman), Company Director Erik Einerth, Company Director Stefan Erneholm, Company Director Anders Oscarsson, Lawyer Wilhelm Lüning, Company Director Jack Junel, MBA Ragnar Boman, MBA Carl Johan Högbom, Lawyer Patrik Marcelius, Authorized Public Accountant Magnus Svensson Henryson and Authorized Public Accountant Svante Forsberg.
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