Nasdaq Stockholm AB: Decision by Nasdaq Stockholm's Disciplinary Committee (12/23)

The Disciplinary Committee of Nasdaq Stockholm (the "Exchange") has found that
Mavshack AB (publ) (the "Company") has breached the rules of Nasdaq First North
Growth Market (the "Rulebook") and therefore ordered the Company to pay a fine
of ten annual fees. 

The Disciplinary Committee concludes that the Company has breached the Rulebook
on the following four occasions. 

 -- The Company took 13 and six days respectively from the Exchange's requests
   to supply the Exchange with information required for the assessment or
   surveillance of the Company.

 -- The Company did not disclose a change in management as soon as possible.
 -- The Company did not comply with generally acceptable behavior in the
   Swedish Securities market since its disclosure of an incentive program did
   not contain a sufficient justification for the Company's decision to apply
   a shorter earnings period than three years.

The Disciplinary Committee takes a particularly serious view of the fact that
the Company did not supply the Exchange with requested information in
accordance with the Rulebook and the Company's breach of generally acceptable
behavior in the Swedish Securities market. The Disciplinary Committee decides
to impose a fine of ten annual fees. 

The Disciplinary Committee's decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2023 

Please see the attached document for a Swedish version of the decision. An
English version of the decision will be made available as soon as possible. 

For further information about this exchange notice please contact Enforcement &
Investigations, telephone [phone], or [e-mail].

Attachment:
https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=1183312