Stockholm, January 13, 2023- The Disciplinary Committee of Nasdaq Stockholm has
found that Photocat A/S (the "Company") has breached the Nasdaq First North
Growth Market Rulebook (the "Rulebook") and therefore ordered the Company to
pay a fine of six annual fees, corresponding to an amount of SEK 630,000.
The Disciplinary Committee concludes that the Company, in connection to its
disclosure of a business acquisition on June 28, 2022, breached Article 17 of
the EU Market Abuse Regulation ("MAR") by not including information about the
purchase price of the acquisition and thereby not enabling a complete and
correct assessment of the acquisition. The Company consequently also breached
item 4.1 of the Rulebook.
The Disciplinary Committee further concludes that the Company did not disclose
a notice to, nor a communiqué from, its annual general meeting 2020 through a
press release and that the Company thereby breached item 4.2.3 (a) and (b) in
combination with item 4.2.1 and 4.1 of the Rulebook.
Furthermore, the Disciplinary Committee concludes that the Company breached
item 4.2.3 (b) in combination with item 4.2.1 and 4.1 of the Rulebook when it
did not disclose a communiqué from its annual general meeting 2021 until the
day following the meeting and therefore not as soon as possible.
The Disciplinary Committee takes a serious view of the Company's violations and
orders the Company to pay a fine of six annual fees.
The Disciplinary Committee's decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2023
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 Joakim Strid, Lawyer Wilhelm Lüning, Lawyer
Patrik Marcelius, Lawyer Erik Sjöman, MBA Carl Johan Högbom, Authorized Public
Accountant Magnus Svensson Henryson, Former Authorized Public Accountant Svante
Forsberg, Lawyer Magnus Lindstedt and Kristina Schauman.
About Nasdaq
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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
David Augustsson
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