Stockholm, July 3, 2020 - The Disciplinary Committee of Nasdaq Stockholm has
found that Italeaf S.p.A. ("Italeaf" or the "Company") repeatedly has breached
the Nasdaq First North Growth Market Rulebook (the "Rulebook") and has
therefore decided that the Company's shares (depository receipts) shall be
delisted from Nasdaq First North Growth Market no later than September 30,
2020.
The Disciplinary Committee concludes that Italeaf on numerous occasions has
disclosed financial reports for the years 2018 and 2019 too late, and that the
Company, despite a request, still has not disclosed all of its financial
reports in accordance with the Rulebook. The Company has thereby committed
repeated breaches of, and is still in breach of, item 4.4 of the Rulebook.
According to the Disciplinary Committee, Italeaf's repeated breaches of the
Rulebook are of such serious nature that they risk damaging the market's and
the public's confidence in the Exchange, Nasdaq First North Growth Market and
the Swedish securities markets in general. Given the severity of Italeaf's
breaches of the Rulebook, the Disciplinary Committee finds that the Company's
shares (depository receipts) shall be delisted from Nasdaq First North Growth
Market no later than September 30, 2020.
The Disciplinary Committee's decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2020
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
Joakim Strid, Company Director Stefan Erneholm, 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.
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Nasdaq Media Contact
David Augustsson
+46 (8) 4056135
david.augustsson@nasdaq.com© 2020 GlobeNewswire
