SIX Exchange Regulation has imposed a fine in the amount of CHF 20,000 on Eastern Property Holdings Limited.
SIX Exchange Regulation, which is charged by SIX Swiss Exchange Ltd with the monitoring and enforcement of issuer obligations, has by means of a sanction notice imposed a fine of CHF 20,000 on Eastern Property Holdings Limited, Tortola, British Virgin Islands, for infringing the rules governing ad hoc publicity. On 20 December 2012, Eastern Property Holdings Limited distributed the ad hoc notice regarding the change in its main shareholder too late.
The issuer has not been sanctioned by SIX Exchange Regulation or the Sanction Commission in the past three years. The violations of the issuer were considered to be the result of gross negligence and have been qualified as minor breach. In light of all circumstances, including the financial capacity of the issuer, SIX Exchange Regulation has imposed a fine of CHF 20,000. Eastern Property Holdings Limited has accepted the sanction notice.
