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The Disciplinary Committee of Nasdaq Stockholm has found that Euroafrica Digital Ventures AB (the “Company”) has breached the Nasdaq First North Growth Market Rulebook (the “Rulebook”) and therefore ordered the Company to pay a fine of five annual fees, corresponding to an amount of SEK 525,000.
The Disciplinary Committee concludes that the Swedish Securities Council (ruling 2022:36) has found that the Company breached good practice in the stock market when the Company in November 2021 disclosed a directed share issue without informing, in a detailed and clear manner, about the reasons for deviating from the shareholders’ preemptive rights and how the Company had ensured that the issue price was in accordance with market terms.
The Disciplinary Committee concludes that the Company consequently breached the Rulebook and takes a serious view of the Company's violation.
The Disciplinary Committee’s decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2022
