Nasdaq Nordic: Nasdaq Stockholm orders Bayn Europe AB to pay a fine corresponding to four annual fees

Stockholm, February 11, 2020 - The Disciplinary Committee of Nasdaq Stockholm
has found that Bayn Europe AB (the "Company") has breached the Nasdaq First
North Growth Market Rulebook (the "Rulebook") and has therefore ordered the
Company to pay a fine of four annual fees, corresponding to an amount of SEK
400,000. 

The Disciplinary Committee has found that the Company's disclosure of inside
information on March 4, 2019, regarding order intake, was not made as soon as
possible as a result of an unnecessary long verification process prior to the
disclosure. The Company thereby breached Article 17 of MAR and consequently
item 4.1 of the Rulebook. 

Also, the Disciplinary Committee has found that inside information disclosed by
the Company on January 10, 2020, regarding an ongoing acquisition of another
company, was misleading in terms of how far in the acquisition process the two
parties had come, and also not sufficient to enable a complete and correct
assessment of it. Thus, the Company again breached Article 17 of MAR and item
4.1 of the Rulebook. 

In sum, the Disciplinary Committee has found that the Company on two occasions
has breached item 4.1 of the Rulebook, and also that the Company at the time of
these events did not have the adequate capacity for information disclosures to
the market as required under item 2.3.5 in the Rulebook. The Disciplinary
Committee considers these violations serious and has therefore ordered the
Company to pay a fine corresponding to four annual fees. 

A detailed description of the matter and the Disciplinary Committee's decision
is available at: 

https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2020

Participating in the Committee's decision were former Supreme Court Justice
Marianne Lundius, M.B.A Ragnar Boman, Authorized Public Accountant Magnus
Svensson Henryson, Company Director Carl-Johan Högbom and Lawyer Patrik
Marcelius. 

About the Disciplinary Committee

The role of Nasdaq Stockholm's Disciplinary Committee is to consider suspicions
regarding whether Exchange Members or listed companies have breached the rules
and regulations applying on the Exchange. If the Exchange suspects that a
member or company has acted in breach of the rules, the matter is referred to
the Disciplinary Committee. Nasdaq Stockholm investigates the suspicions and
pursues the matter and the Disciplinary Committee issues a ruling regarding
possible sanctions. The sanctions possible for listed companies are a warning,
a fine or delisting. The fines that may be imposed range from one to 15 annual
fees. The sanctions possible for Exchange Members are a warning, a fine or
debarment. Fines paid are not included in the Exchange's business but are
attributed to a foundation supporting research in the securities market. The
Disciplinary Committee's Chairman and Deputy Chairman must be lawyers with
experience of serving as judges. At least two of the other members of the
Committee must have in-depth insight into the workings of the securities
market. 

Members: Former Supreme Court Justice Marianne Lundius (Chairman), Supreme
Court Justice Ann-Christine Lindeblad (Deputy Chairman), Company Director Erik
Einerth, Company Director Joakim Strid, Company Director Anders Oscarsson,
Lawyer Wilhelm Lüning, Company Director Jack Junel, MBA Ragnar Boman, MBA Carl
Johan Högbom, Lawyer Patrik Marcelius, Authorized Public Accountant Magnus
Svensson Henryson and Former Authorized Public Accountant Svante Forsberg. 

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital
markets and other industries. Our diverse offering of data, analytics, software
and services enables clients to optimize and execute their business vision with
confidence. To learn more about the company, technology solutions and career
opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. 

Media Relations Contact  
Erik Granström           
[phone]          
[e-mail]
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