Nasdaq Stockholm AB: Information from the Surveillance function at Nasdaq Stockholm with regards to ESMAS Public Statement addressing the implications of the COVID-19 pandemic on the half-yearly financial reports of listed issuers (9/20)

Following up on previous Surveillance updates regarding Corona related topics
relevant for issuers on Nasdaq Stockholm and Nasdaq First North Growth Market
Stockholm, Nasdaq informs about a Public Statement issued by the European
Securities and Markets Authority (ESMA) on May 20, 2020. 

The Public Statement address the implications of the COVID-19 pandemic on the
half-yearly financial reports of listed issuers. In particular, the Statement
addresses the preparation of the interim financial statements according to IFRS
and the interim management reports for the 2020 half-yearly reporting periods.
It highlights the need for issuers to provide updated information that is
useful to investors to adequately reflect the current and expected impact of
the COVID-19 situation on the financial position, performance and cash-flows of
issuers. ESMA also highlights the importance of providing information on the
identification of the principal risks and uncertainties to which issuers are
exposed. The considerations in the Statement are also applicable to the
reporting of financial information in other interim periods to which IAS 34
Interim Financial Reporting is applied. 

Summary

The Public Statement provides recommendations on areas of focus identified by
ESMA and highlights: 

  -- the importance of providing relevant and reliable information, which may
     require issuers to make use of the time allowed by national law to publish
     half-yearly financial reports while not unduly delaying the timing of
     publication;


  -- the importance of updating the information included in the latest annual
     accounts to adequately inform stakeholders of the impacts of COVID-19, in
     particular in relation to significant uncertainties and risks, going
     concern, impairment of non-financial assets and presentation in the
     statement of profit or loss; and


  -- the need for entity-specific information on the past and expected future
     impact of COVID-19 on the strategic orientation and targets, operations,
     performance of issuers as well as any mitigating actions put in place to
     address the effects of the pandemic.


You can find ESMA's Public Statement here -
https://www.esma.europa.eu/press-news/esma-news/esma-calls-transparency-covid-19
-effects-in-half-yearly-financial-reports 

Please be advised that we are available for discussions regarding regulatory
and disclosure-related matters. We encourage all Issuers to contact the
Surveillance function should there be any questions regarding the rule books or
the information in this letter. 

You can contact the Surveillance function at:

Telephone: [phone]; or

E-mail: iss@nasdaq com

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