Stockholm, December 8, 2021 - The Disciplinary Committee of Nasdaq Stockholm
has found that Eltel AB (publ) ("Eltel" or the "Company") has breached the
rules of Nasdaq Stockholm (the "Rulebook") and therefore ordered the Company to
pay a fine of five annual fees, corresponding to an amount of SEK 1,025,000.
The Disciplinary Committee concludes that Eltel on several occasions during
2016 and 2017 has breached Article 17 of the EU Market Abuse Regulation ("MAR")
by:
-- not having disclosed inside information about changes to the Company's CFO
position as soon as possible,
-- not having disclosed inside information about a revised financing agreement
as soon as possible,
-- not having disclosed inside information about a planned rights issue as
soon as possible,
-- not having disclosed inside information about suspicions of irregularities
in the Company's accounts as soon as possible,
-- not having disclosed inside information about the resignation of its CFO as
soon as possible.
The Disciplinary Committee concludes that the Company, through the above
breaches, consequently also breached item 3.1 of the Rulebook and orders the
Company to pay a fine corresponding to five annual fees.
The Disciplinary Committee's decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2021
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 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), Supreme Court Justice
Petter Asp, Company Director Anders Oscarsson, Company Director Jack Junel,
Company Director Joakim Strid, Lawyer Wilhelm Lüning, Lawyer Patrik Marcelius,
Lawyer Erik Sjöman, MBA Ragnar Boman, MBA Carl Johan Högbom, Authorized Public
Accountant Magnus Svensson Henryson and Former Authorized Public Accountant
Svante Forsberg.
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david.augustsson@nasdaq.com© 2021 GlobeNewswire
