Stockholm, November 23, 2022- The Disciplinary Committee of Nasdaq Stockholm
has found that Brighter AB (the "Company") has breached the Nasdaq First North
Growth Market Rulebook (the "Rulebook") and therefore ordered the Company to
pay a fine of eight annual fees, corresponding to an amount of approximately
SEK 1,500,000.
The Disciplinary Committee concludes that the Company on several occasions
between 2020 and 2022 has breached Article 17 of the EU Market Abuse Regulation
("MAR") and the obligation to disclose inside information in a manner that
enables a complete and correct assessment of it, by:
-- not, in its disclosures of distribution agreements, having included
information that the agreements were conditional upon regulatory approvals,
-- having disclosed incorrect information about the subscription price for a
warrant that the Company intended to issue,
-- having disclosed misleading information regarding the terms for employment
of the Company's CEO.
The Disciplinary Committee concludes that the Company, through these
violations, consequently also breached item 4.1 of the Rulebook.
The Disciplinary Committee further concludes that the Company did not hold its
annual general meeting 2021 within the deadline set out in the Swedish
Companies Act, and that the Company thereby breached item 1.3 of the Rulebook.
The Disciplinary Committee takes a serious view of the Company's violations and
orders the Company to pay a fine of eight annual fees.
The Disciplinary Committee's decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2022
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 Petter Asp (Deputy Chairman), Supreme Court Justice Johan
Danelius, 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.
About Nasdaq
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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
Erik Gruvfors
+46 73 449 78 12
erik.gruvfors@nasdaq.com© 2022 GlobeNewswire
