Nasdaq Nordic: Decision by the Disciplinary Committee regarding Mavshack AB

Stockholm, September 1, 2020 - The Disciplinary Committee of Nasdaq Stockholm
has in two decisions found that Mavshack AB (publ) ("Mavshack" or the
"Company") has breached the Nasdaq First North Growth Market Rulebook (the
"Rulebook"). 

Decision 2020:10

The Disciplinary Committee concludes that Mavshack, when disclosing inside
information on an agreement entered into by the Company, breached item 4.1 of
the Rulebook by not including information about the potential financial impact
of the agreement and, consequently, not enabling a complete and correct
assessment of the agreement as required by Article 17 of the EU Market Abuse
Regulation. 

The Disciplinary Committee also concludes that the Company, when later
disclosing complementary information of the abovementioned kind, again breached
item 4.1 of the Rulebook by not informing that the information constituted
inside information. 

For these breaches of the Rulebook, the Disciplinary Committee has ordered the
Company to pay a fine of four annual fees, corresponding to an amount of SEK
400,000. 

Decision 2020:11

The Disciplinary Committee concludes that Mavshack breached item 4.2.3 (b) in
combination with item 4.1 of the Rulebook by not disclosing information on
resolutions adopted by an extraordinary general meeting of shareholders until
the day after the meeting, and thereby not as soon as possible. 

For this breach of the Rulebook, the Disciplinary Committee has ordered the
Company to pay a fine of two annual fees, corresponding to an amount of SEK
200,000. 

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. 

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. 

Nasdaq Media Contact

David Augustsson

[phone]

[e-mail]