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he Disciplinary Committee of Nasdaq Stockholm has found that Photocat A/S (the “Company”) has breached the Nasdaq First North Growth Market Rulebook (the “Rulebook”) and therefore ordered the Company to pay a fine of six annual fees, corresponding to an amount of SEK 630,000.
The Disciplinary Committee concludes that the Company, in connection to its disclosure of a business acquisition on June 28, 2022, breached Article 17 of the EU Market Abuse Regulation (“MAR”) by not including information about the purchase price of the acquisition and thereby not enabling a complete and correct assessment of the acquisition. The Company consequently also breached item 4.1 of the Rulebook.
The Disciplinary Committee further concludes that the Company did not disclose a notice to, nor a communiqué from, its annual general meeting 2020 through a press release and that the Company thereby breached item 4.2.3 (a) and (b) in combination with item 4.2.1 and 4.1 of the Rulebook.
Furthermore, the Disciplinary Committee concludes that the Company breached item 4.2.3 (b) in combination with item 4.2.1 and 4.1 of the Rulebook when it did not disclose a communiqué from its annual general meeting 2021 until the day following the meeting and therefore not as soon as possible.
The Disciplinary Committee takes a serious view of the Company's violations and orders the Company to pay a fine of six annual fees.
The Disciplinary Committee’s decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2023
