Stockholm, February 2, 2023- The Disciplinary Committee of Nasdaq Stockholm has
found that Bilia AB ("Bilia" or the "Company") has not breached the rules of
Nasdaq Stockholm (the "Rulebook") and has therefore not imposed a sanction on
the Company.
The Disciplinary Committee concludes that the termination of agreement that the
Company received from Volvo Cars in November 2020 was surrounded by uncertainty
as to what the termination in practice would mean for the Company, and that the
Company's decision to delay its disclosure of the termination therefore was
consistent with Article 17 of the EU Market Abuse Regulation ("MAR").
The Disciplinary Committee further concludes that the Company's disclosure of
the termination, even though it could have been more detailed in terms of the
financial effects of the termination, did not violate Article 17 of MAR and the
obligation to disclose inside information in a manner that enables a complete
and correct assessment of the information.
In summary, the Disciplinary Committee finds that Bilia in its handling of the
termination acted in accordance with the Rulebook.
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
director Kristina Schauman.
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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© 2023 GlobeNewswire
