Stockholm, June 30, 2026 - The Disciplinary Committee of Nasdaq Stockholm (the "Exchange") has found that TriCarbs BidCo AB (the "Offeror") has breached the Takeover rules of Nasdaq Stockholm (the "Takeover Rules") and has therefore issued the Offeror a fine amounting to SEK 100,000,000.
On April 27, 2026, the Offeror announced a recommended cash offer to acquire all outstanding shares in Cint Group AB (publ) ("Cint"). The consortium members at that time consisted of Triton Fund 6, Bolero Holdings SARL as well as Patrick Comer, CEO of Cint, and Brett Schnittlich, board member and former COO of Cint.
The Offeror has undertaken vis-à-vis the Exchange to comply with the Takeover Rules and to submit to any sanctions that the Exchange may impose in the event of a breach of those rules.
On 27 May 2026, the Swedish Securities Council (Aktiemarknadsnämnden) issued a ruling (2026:18), in which it concluded that the planned composition of the bidding consortium was incompatible with the equal treatment principle set out in Rule II.10 of the Takeover Rules.
The Offeror has acknowledged the breach of the Takeover Rules.
The Disciplinary Committee therefore finds that the Offeror has breached the Takeover Rules. The Disciplinary Committee considers the violation to be particularly serious and sets the fine at SEK 100,000,000.
The Disciplinary Committee's decision is available at:
https://www.nasdaq.com/market-regulation/nordic/stockholm/disciplinary/decisions-sanctions
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, Supreme Court Justice 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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