The Disciplinary Committee of Nasdaq Stockholm has in two decisions found that Mavshack AB (publ) (“Mavshack” or the “Company”) has breached the Nasdaq First North Growth Market Rulebook (the “Rulebook”).
Decision 2020:10
The Disciplinary Committee concludes that Mavshack, when disclosing inside information on an agreement entered into by the Company, breached item 4.1 of the Rulebook by not including information about the potential financial impact of the agreement and, consequently, not enabling a complete and correct assessment of the agreement as required by Article 17 of the EU Market Abuse Regulation.
The Disciplinary Committee also concludes that the Company, when later disclosing complementary information of the abovementioned kind, again breached item 4.1 of the Rulebook by not informing that the information constituted inside information.
For these breaches of the Rulebook, the Disciplinary Committee has ordered the Company to pay a fine of four annual fees, corresponding to an amount of SEK 400,000.
Decision 2020:11
The Disciplinary Committee concludes that Mavshack breached item 4.2.3 (b) in combination with item 4.1 of the Rulebook by not disclosing information on resolutions adopted by an extraordinary general meeting of shareholders until the day after the meeting, and thereby not as soon as possible.
For this breach of the Rulebook, the Disciplinary Committee has ordered the Company to pay a fine of two annual fees, corresponding to an amount of SEK 200,000.
The Disciplinary Committee’s decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2020
