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The Disciplinary Committee of Nasdaq Stockholm (the “Exchange”) has dismissed a disciplinary case concerning Oscar Properties Holding AB ("the Company").
On October 21, 2024, the Exchange requested the Disciplinary Committee to review a disciplinary case against the Company. The Exchange claimed that the Company had violated the rules of Nasdaq Stockholm (the “Rulebook”) in the following ways:
- The Company repeatedly failed in 2024 to fulfill its obligation to disclose inside information in accordance with the EU Market Abuse Regulation ("MAR"). The violations involved late disclosure of inside information that had both the potential to and actually did significantly impact the price of the Company's shares.
- The Company has repeatedly failed in 2024 to fulfill its obligations under the Securities Market Act (2007:528), the Companies Act (2005:551), and the Rulebook.
- During the first half of 2024, the Company was significantly delayed in publishing all financial reports. The late publication of the annual report also resulted in the annual general meeting being held late.
- The Company lacked a CEO for more than two months in 2024.
- During the months without a CEO, the Company lacked an information policy that was current in relation to the Company's organization.
- The Company's repeated violations of the information disclosure requirements in the Rulebook, law, and MAR, show that the Company lacked the necessary routines, controls, and systems, including systems and routines for financial reporting, to meet the Rulebooks' requirements to provide the market with reliable, accurate, and timely information.
The Exchange requested that the Disciplinary Committee decide to delist the Company's shares from Nasdaq Stockholm.
On October 31, 2024, the Company was declared bankrupt, and its shares were delisted by the Exchange on November 4, 2024. In light of this, the Exchange has chosen to withdraw its application from the Disciplinary Committee.
As the Exchange has withdrawn its application, the Disciplinary Committee has dismissed the case. The case will therefore not be reviewed by the Disciplinary Committee.
The Disciplinary Committee’s decision is available at:
https://www.nasdaq.com/market-regulation/nordic/stockholm/disciplinary/decisions-sanctions
