The Disciplinary Committee of Nasdaq Stockholm has found that Endomines AB (publ) (“Endomines” or the “Company”) has breached the Nasdaq Stockholm Rulebook for Issuers (the “Rulebook”) and has therefore ordered the Company to pay a fine of two annual fees, corresponding to an amount of SEK 410,000.
The Disciplinary Committee concludes that Endomines on October 1, 2018 received information that its gold production for January-September 2018, and consequently also its production for the full year 2018, would exceed the production guidance previously disclosed by the Company. The Disciplinary Committee further concludes that the information concerned was inside information at the latest when a draft press release on this was sent to the Company’s Board of Directors for approval on October 2, 2018. Since the Company did not disclose the inside information until 11.00 a.m. on October 3, 2018, it was not done as soon as possible in accordance with Article 17 in MAR.
The Disciplinary Committee has thus found that he Company has breached item 3.1 of the Rulebook, and has ordered the Company to pay a fine corresponding to two annual fees.
A detailed description of the matter and the Disciplinary Committee’s decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2020
Participating in the Committee’s decision were former Supreme Court Justice Marianne Lundius, Supreme Court Justice Ann-Christine Lindeblad, former Authorized Public Accountant Svante Forsberg, Company Director Anders Oscarsson och Company Director Joakim Strid.
