Committee's decision on ELMO Rent AS

Tallinn, Estonia, 2022-05-04 08:01 CEST --


On May 3, 2022, the Listing and Surveillance Committee of Nasdaq Tallinn
decided to impose a fine in the amount of 500 euros to ELMO Rent AS for
violation of Nasdaq Tallinn rules and regulations chapter First North Rules
(hereinafter FNR) clauses 1.1, 3.2, 3.6, 23.1, 23.3, 23.4, 26.1.1, 26.1.2,
26.1.3, 26.3.2 and 26.3.4. 

According to FNR chapters 1.1, 3.2. and 3.6. issuer admitted to trading on
First North market is subject to FNR Rules and to requirements of other legal
acts, including the legal acts that regulate the public offers and disclosure
of information. The Issuer shall comply with the requirements, incl.
information disclosure requirements as specified in FNR Rules. 

According to FNR chapters 23.1. and 23.3. inside Information, Regulated
Information and any ohter information required in Rules, are subject to
disclosure under the terms and conditions set out in Rules. 

According to FNR chapter 23.4. the information disclosed by the Issuer shall be
accurate, precise, exact, complete and unambiguous, its contents must not be
misleading, and it shall not exclude or omit anything that may affect the
subject or significance of the information. 

According to FNR chapter 26.1.1. the Issuer shall prepare financial reports
using calculation charts and methods, which comply to the accounting standards
of the Issuer's country of registration or IFRS, including the information
required under these Rules. 

According to FNR chapters 26.1.2. and 26.1.3. the Issuer shall provide
financial reports in the form of a comparable table, comparing the data of the
current period of the report with the data of the respective period of the
previous fiscal year. If the Issuer changes the calculation scheme or methods
used in preparing the financial reports, the Issuer shall comment on these
changes in the notes of the reports, indicating the reasons for the changes and
their impact on the results of the current period and the previous period to
provide a comparison. 

According to FNR chapter 26.3.2. interim report as a whole consists of the
balance sheet, profit or loss statement, cash flow summary, summary of changes
in equity and a notes. The Interim Report shall include a statement by the
management of the Issuer regarding the business of the Issuer. If the issuer is
obliged to prepare the consolidated annual report in accordance with applicable
laws or other regulation of the Issuer's home state, the Interim Report shall
be prepared in the consolidated form. 

According to FNR chapter 26.3.4. interim Report shall be prepared under the
same calculation principles and methods that were used in the last annual
report of the Issuer. 



Circumstances:

ELMO Rent AS has repeatedly breached the First North Rules.



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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.