Balder/Enlight
According to the regulations contained in the listing agreement between the Exchange and the listed companies, an adjustment of a previously published forecast must be disclosed through a press release sent to a number of newspapers and news agencies. The information about the adjustment must contain details about what the change consists of.
In a year-end report published on January 31, 2005, Balder/Enlight disclosed that the company expected to report a profit and a positive cash flow for full-year 2005. In the printed annual report, which was available on the company´s website in mid-April, it was stated that the company´s ambition was to report a profit and a positive cash flow towards the end of 2005. The information presented in the annual report, which thus constituted a forecast adjustment, was not disclosed in the prescribed manner in the annual report but was instead first disclosed on April 22, 2005 in connection with publication of the interim report for the first quarter of 2005. However, in the first-quarter report, no information was provided about how the forecast had been changed in relation to the year-end report.
The Disciplinary Committee found that the company had breached the regulations specified above and fined the company one annual fee, corresponding to SEK 192,000.