Nasdaq Tallinn: Committee's decision on AS Baltika

Tallinn, Estonia, 2020-11-17 15:15 CET --


On November 16, 2020 the Listing and Surveillance Committee of Nasdaq Tallinn
decided to impose a fine in the amount of 2500 euros to AS Baltika for
violation of Nasdaq Tallinn rules and regulations chapter Requirements for
Issuers (hereinafter RI) clauses .2.1, 2.2.1, 2.4.1, 7.2.3, 7.9.3, 7.9.5.1,
7.9.5.2. 

According to RI clause 1.2.1 the Issuer is obliged to secure disclosure of
information stated in RI in such a form and within such time limits as
specified in RI. 

According to RI clause 2.2.1 Whenever an Issuer becomes aware of any rumour or
report about the Issuer, true or false, that contains information that is
likely to have, or has had, an effect on the price of its securities, the
Issuer is required to immediately comment on the rumour or report by submitting
a respective notice to the Exchange 

According to RI clause 7.2.3 An Issuer is required immediately disclose all the
resolutions adopted by the general meeting. 

According to RI clause 7.9.3 An issuer is obliged to disclose immediately
information about transactions with persons connected with the Issuer. 

According to RI clauses 7.9.5.1-7.9.5.2 Upon effecting a significant
transaction with a person connected with the Issuer, the Issuer shall submit
the transaction for approval to the general meeting of shareholders along with
the auditor's opinion that the transaction does not damage the interests of the
shareholders not concerned by the transaction 

According to RI clause 2.4.1 Information is deemed disclosed in accordance with
these Requirements when made public as a notice through the Exchange
Information System. 


AS Baltika has repeatedly failed to comply with the obligation concerning the
immediate disclosure of information or the requirements of the Issuer Rules
which oblige the Issuer to submit a significant transaction with a related
party to the general meeting for approval. 





Nasdaq Baltic
Issuer Services
[phone]
www.nasdaqbaltic.com



Nasdaq Baltic is a common name for exchanges, regulated markets, alternative
markets First North operated by Nasdaq companies in the Baltic states, i.e.
Nasdaq Tallinn AS, Nasdaq Riga AS and AB Nasdaq Vilnius.