On October 27, 2022, the shares in Aventura Group AB (the "Company") were given observation status following changes to the Company's board of directors resulting in a majority of the directors also serving on the Company's senior management in breach of the Nasdaq First North Growth Market Rulebook. On November 21, 2022, the observation status was updated with reference to material adverse uncertainty in respect of the Company's financial position. On April 26, 2023, the observation status was updated after the Company had entered into a conditional agreement to transfer all of its operational assets to Genuine German GmbH. On September 8, 2023, the Company published a press release with information that the Company had entered into a letter of intent to acquire all of the shares in Suntrade AB through a reverse takeover, conditional upon, inter alia, approval by a general meeting of the Company's shareholders and Nasdaq Stockholm AB's decision to admit the Company's shares for continued trading on Nasdaq First North Growth Market. The rules of Nasdaq First North Growth Market state that an issuer may be given observation status if it has been the subject of a reverse take-over or otherwise plans to make or has been subject to an extensive change in its business or organization so that the issuer upon an overall assessment appears to be an entirely new company. With reference to the above, Nasdaq Stockholm AB decides to update the observation status for the shares in Aventura Group AB (AVENT B, ISIN code SE0015961XXX, order book ID 226477). For further information about this exchange notice please contact Enforcement & Investigations, telephone +46 8 405 70 50.
© 2023 GlobeNewswire
