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The Disciplinary Committee of Nasdaq Stockholm has found that Eltel AB (publ) (“Eltel” or the “Company”) has breached the rules of Nasdaq Stockholm (the “Rulebook”) and therefore ordered the Company to pay a fine of five annual fees, corresponding to an amount of SEK 1,025,000.
The Disciplinary Committee concludes that Eltel on several occasions during 2016 and 2017 has breached Article 17 of the EU Market Abuse Regulation (“MAR”) by:
- not having disclosed inside information about changes to the Company’s CFO position as soon as possible,
- not having disclosed inside information about a revised financing agreement as soon as possible,
- not having disclosed inside information about a planned rights issue as soon as possible,
- not having disclosed inside information about suspicions of irregularities in the Company’s accounts as soon as possible,
- not having disclosed inside information about the resignation of its CFO as soon as possible.
The Disciplinary Committee concludes that the Company, through the above breaches, consequently also breached item 3.1 of the Rulebook and orders the Company to pay a fine corresponding to five annual fees.
The Disciplinary Committee’s decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2021
