The listed company AB Ångpanneföreningen and Getinge AB has contravened the rules that apply at OMX Nordic Exchange Stockholm by failing to disclose their financial statements in the correct manner. The Exchange's Disciplinary Committee has decided that each company will given a warning. In accordance with OMX Nordic Exchange Stockholm's listing agreement, financial statement and interim reports must be published in a manner that ensures that the information is made available to the public rapidly and in a non-discriminatory manner. No later than simultaneously, the information shall be disclosed to the Exchange in the manner instructed by the Exchange and shall be made available on the company's website as soon as possible. The listed company is obligated to ensure that information concerning the report does not “leak” in advance. Ångpanneföreningen published its financial statement for the full year 2007 on February 19, 2008 at 9:16 a.m. However, information from the report had been available from 9:05 a.m. on the company's web page and available at the news agency SIX at 9:07 a.m. Getinge published its financial statement on January 28, 2008 at 12:17 p.m. for the full year 2007. However, information from the report had been available at 12:08 p.m. on the company's web page and available at the news agency Ticker at 12:13 p.m. Both Ångpanneföreningen and Getinge have consequently been contravening the rules by making the financial statements available on the respective web pages before the formal disclosure. In contrast to recent incidents of a similar character, these incidents haven't resulted from faulty procedures by the respective companies, but rather to accidental errors in handling. The Disciplinary Committee found that the transgressions were less severe and it will only issue a warning to each of the companies. The following persons participated in the Committee's decision: Johan Munck, Marianne Lundius, Madeleine Leijonhufvud, Hans Mertzig and Ragnar Boman. For further information: Jonas Rodny, OMX Nordic Exchange Stockholm +46 (0)8-405 72 67 About the Disciplinary Committee | The role of OMX Nordic Exchange in Stockholm's Disciplinary Committee is to consider suspicions regarding whether Exchange Members, brokers or listed companies have breached the rules and regulations applying on the Exchange. If the Exchange suspects that a member, broker or listed company has acted in breach of the Exchange's rules and regulations, the matter is reported to the Disciplinary Committee. The Exchange 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, while brokers may be warned or have their brokerage license rescinded. 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: Supreme Court Justice Johan Munck (Chairman), Supreme Court Justice Marianne Lundius (Deputy Chairman), Madeleine Leijonhufvud (professor), Stefan Erneholm (company director) and Hans Mertzig (company director). Deputy Members: Hans Edenhammar (MBA), Claes Beyer (lawyer), Jack Junel (company director), Ragnar Boman (MBA) and Carl Johan Högbom (MBA).
Disciplinary Committee at OMX Nordic Exchange Stockholm issues warnings to Ångpanneföreningen and Getinge
| Source: Nasdaq Nordic