Stockholm, October 14, 2020 - The Disciplinary Committee of Nasdaq Stockholm
has found that Oasmia Pharmaceutical AB ("Oasmia Pharmaceutical" or the
"Company") has breached the rules of Nasdaq Stockholm (the "Rulebook") and
therefore ordered the Company to pay a fine of fifteen annual fees,
corresponding to an amount of SEK 3,075,000.
The Disciplinary Committee concludes that the Swedish Securities Council in its
ruling 2019:13 has found that Oasmia Pharmaceutical has breached good practice
in the stock market by not having complied with a main shareholder's request
for an extraordinary general meeting for the election of board members and,
when eventually convened, also having cancelled such a meeting at a late stage.
The Disciplinary Committee further concludes that the Company has breached good
practice in the stock market by having expressed remarks on the main
shareholder's request and proposals for board members in several press
releases.
With reference to the above, the Disciplinary Committee concludes that Oasmia
Pharmaceutical flagrantly and repeatedly has violated good practice in the
stock market and, consequently, also the Rulebook. . The Disciplinary Committee
takes a particularly serious view of the Company's behavior, which have been
likely to damage the public's confidence in Nasdaq Stockholm and the stock
market.
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 AnnChristine 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
+46 (8) 4056135
david.augustsson@nasdaq.com© 2020 GlobeNewswire
