The Disciplinary Committee of Nasdaq Stockholm AB (the "Exchange") has found
that Newton Nordic AB ("Newton Nordic" or the "Company") has breached the
Nasdaq First North Growth Market Rulebook (the "Rulebook") and therefore
decided that the Company's shares shall be delisted from Nasdaq First North
Growth Market no later than March 4, 2022.
The Disciplinary Committee concludes that Newton Nordic through the disclosure
of its interim report for the third quarter of 2021 breached article 17 of the
EU Market Abuse Regulation ("MAR"), and consequently item 4.1 of the Rulebook,
as the content of the report misleadingly gave the impression that a planned
acquisition had already been completed, when in fact no agreement for the
acquisition had been entered into.
The Disciplinary Committee concludes that also other disclosures made by the
Company in relation to the planned acquisition, besides the interim report,
have been contradictory and unclear and that the Company also in this sense has
breached article 17 of MAR and item 4.1 of the Rulebook.
The Disciplinary Committee concludes that the Company has not, upon request,
provided the Exchange with correct and reliable information necessary to the
Exchange's surveillance of the Company, and that the Company thereby has
breached item 4.8 of the Rulebook.
Given that the Company has repeatedly shown an inability to act in accordance
with the Rulebook, the Disciplinary Committee concludes that the Company's
management has lacked the appropriate qualifications as set out in item 2.3.4
of the Rulebook and also sufficient capacity for providing information to the
market as set out in item 2.3.5 of the Rulebook.
In summary, the Disciplinary Committee takes a particularly serious view of the
Company's breaches that have been likely to seriously damage the confidence in
the Exchange and the securities markets in general. Upon an overall assessment,
the Disciplinary Committee therefore finds that the Company's shares shall be
delisted from Nasdaq First North Growth Market no later than March 4, 2022.
The Exchange has subsequently decided that the Company's shares shall be
removed from trading from Nasdaq First North Growth Market on February 25,
2022.
The Disciplinary Committee's decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2022
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 Enforcement &
Investigations, telephone +46 8 405 70 50, or iss@nasdaq.com.
Attachment:
https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=1046556© 2022 GlobeNewswire
