Nasdaq Tallinn: Committee's decision on Arco Vara

Tallinn, Estonia, 2018-03-21 14:00 CET (GLOBE NEWSWIRE) --

On March 20, 2018, the Listing and Surveillance Committee of Nasdaq Tallinn
decided to impose a fine in the amount of 2000 euros to Arco Vara AS for
violation of Nasdaq Tallinn rules and regulations chapter Requirements for
Issuers (hereinafter RI) clauses 1.2.1, 1.2.3, 7.6 and 2.4.1 

Background:

According to RI clause 1.2.1 the Issuer is obliged to secure disclosure of
information stated in RI in such a form and within such time limits as
specified in RI. 

According to RI clause 1.2.3 The information disclosed by an Issuer shall be
accurate, exact and unambiguous, its content must not be misleading and it
shall not exclude or omit anything that may influence the substance or meaning
of the information presented. 

According to RI clause 7.6 the Issuer is obliged to disclose information about
the intended issue of debt securities. The disclosed information shall contain
at least the following: the number, nominal value, maturity and interest rate
of the debt securities to be issued; any guarantee or security given in respect
of performing the obligations arising from the Issuer's debt securities; the
subscription conditions and issue price of the debt securities. 

According to RI clause 2.4.1 information is deemed disclosed when it is made
public as a notice through the Exchange Information System. 

On January 8, 2018 Arco Vara AS disclosed information that Arco Vara had issued
new bonds; the subscription period was 18.12.2017 - 05.01.2018. Arco Vara did
not disclose the information about the planned issue and the conditions as set
forth by the Requirements for Issuers. 

Nasdaq Baltic
Issuer Services
[phone]
www.nasdaqbaltic.com

Nasdaq Baltic is a common name for exchanges, regulated markets, alternative
markets First North operated by Nasdaq companies in the Baltic states, i.e.
Nasdaq Tallinn AS, Nasdaq Riga AS and AB Nasdaq Vilnius.