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 +46 8 405 70 50, or iss@nasdaq.com. Attachment: https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=1183312
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