Stockholm, October 8, 2018 — The Disciplinary Committee of Nasdaq Stockholm has found that Viking Supply Ships AB (“Viking” or the “Company”) has breached Nasdaq Stockholm’s Rule Book for Issuers (the “Rule Book”) and therefore ordered Viking to pay a fine of three annual fees, corresponding to an amount of SEK 615,000.
The Disciplinary Committee has concluded that Viking breached item 3.3.3 of the Rule Book by not publishing its interim report for the third quarter of 2017 (the “Interim Report”) within the prescribed two-month time limit, and also item 3.3.16 of the Rule Book in connection with the postponement of the Interim Report, by not stating a new date for its publication or an estimate of when it could be expected to be published. The Disciplinary Committee has also found that Viking, by not disclosing information about the postponement as soon as possible, breached item 3.3.16 in conjunction with the methodology requirement stipulated in items 3.3.1 and 3.1 of the Rule Book.
The Disciplinary Committee takes a serious view of the breaches given that the Company as recently as November 2016 was criticized by the Exchange for similar shortcomings in connection with the Company’s publication of its annual report 2015 when the Company inter alia published the annual report one month late. The Disciplinary Committee has thus decided that the sanction should be a fine corresponding to three annual fees.
A detailed description of the matter and the Disciplinary Committee’s decision is available at:
Participating in the Committee’s decision were former Supreme Court Justice Marianne Lundius, Company Director Stefan Erneholm, Authorized Public Accountant Magnus Svensson Henryson, Lawyer Wilhelm Lüning and Company Director Anders Oscarsson. Secretary: Bachelor of Legal Science Erik Lidman.
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 fines that may be imposed range from one to 15 annual fees. 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 Ann-Christine Lindeblad (Deputy Chairman), Company Director Erik Einerth, Company Director Stefan Erneholm, Company Director Anders Oscarsson, Lawyer Wilhelm Lüning, Company Director Jack Junel, MBA Ragnar Boman, MBA Carl Johan Högbom, Lawyer Patrik Marcelius, Authorized Public Accountant Magnus Svensson Henryson and Authorized Public Accountant Svante Forsberg.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 100 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 4,000 total listings with a market value of $14 trillion. To learn more, visit: http://business.nasdaq.com
|
Media Relations Contact Erik Granström +46 8 405 78 07 erik.granstrom@nasdaq.com |
Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, Nasdaq Clearing and Nasdaq Broker Services are respectively brand names for the regulated markets of Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd., Nasdaq Iceland hf., Nasdaq Riga, AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS, AB Nasdaq Vilnius, Nasdaq Clearing AB and Nasdaq Broker Services AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to factors detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.