The Disciplinary Committee of Nasdaq Stockholm has found that Northbaze Group
AB ("Northbaze" or the "Company") has breached the Nasdaq First North Growth
Market Rulebook (the "Rulebook") and has therefore ordered the Company to pay a
fine of six annual fees, corresponding to an amount of SEK 600 000.
The Disciplinary Committee concludes that Northbaze has breached item 4.1 of
the Rulebook in several respects, e.g. by having failed to include a reference
to the EU Market Abuse Regulation in a disclosure of inside information, when
publishing a correction in this regard also amend the material content in
relation to the original press release and by not having made the two press
releases in question available on the Company's website. The Disciplinary
Committee also concludes that the Company's website has not been designed in
such a way that inside information published by the Company could be located in
an easily identifiable part of it.
The Disciplinary Committee further concludes that the Company has breached item
4.2.3 (b) in combination with items 4.2.1 and 4.1 of the Rulebook by not having
published information about the resolutions adopted by the Annual General
Meeting as soon as possible.
In summary, the Disciplinary Committee concludes that Northbaze has breached
the Rulebook in various respects, and looks particularly serious at the
violations of item 4.1 of the Rulebook since the Company's disclosures of
information in this regard has been likely to mislead the market. The
Disciplinary Committee thus decides that the sanction should be a fine
corresponding to six annual fees.
The Disciplinary Committee's decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2020
Please see the attached document for a Swedish version of the decision. An
English version of the decision will be made available as soon as possible.
For further information about this exchange notice please contact Issuer
Surveillance, telephone +46 8 405 60 00, or iss@nasdaq.com.
Attachment:
https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=786325© 2020 GlobeNewswire
