Nasdaq Stockholm Orders Clinical Laserthermia Systems AB To Pay A Fine Corresponding To 15 Annual Fees

The Disciplinary Committee of Nasdaq Stockholm has found that Clinical Laserthermia Systems AB (”CLS” or the “Company”) has breached the regulations of Nasdaq First North (the “Rulebook”) and has therefore ordered CLS to pay a fine of 15 annual fees, corresponding to an amount of SEK 2,194,286.

The Disciplinary Committee finds that the Company has breached item 2.1 (c) and item 2.2.2 in combination with item 3.2 (a) (iv), and also item 4.1, of the Rulebook by disclosing incorrect information about the form of employment of the company’s CEO to the Exchange and the market in conjunction with both the Company’s listing application and also thereafter. According to the Disciplinary Committee, the Company’s actions have risked damaging the public confidence in the Exchange, Nasdaq First North and the securities market.

Given the circumstances of the case and after careful consideration, the Disciplinary Committee finds that the sanction for the Company’s abovementioned breaches should be a fine rather than delisting. The fine should be 15 annual fees.

A detailed description of the matter and the Disciplinary Committee’s decision is available at:

http://business.nasdaq.com/list/Rules-and-Regulations/european-surveillance/disciplinary-processes/decisions-and-sanctions/stockholm-2019.html

Participating in the Committee’s decision were former Supreme Court Justice Marianne Lundius, Authorized Public Accountant Magnus Svensson Henryson, Company Director Jack Junel, Lawyer Wilhelm Lüning and Company Director Joakim Strid.