The Disciplinary Committee of Nasdaq Stockholm AB (the “Exchange”) has ruled that Dome Energy AB (“Dome”) has breached the First North Nordic Rulebook (the “Rulebook”) and has therefore ordered Dome to pay a fine of SEK 679,574 corresponding to seven annual listing fees.
The Disciplinary Committee found that Dome had neglected its disclosure obligations under items 4.1 (a) and 4.2 (g) of the Rulebook on numerous occasions during 2015 by not publishing sufficient information and as quickly as possible regarding the development of the divestment of Dome’s US subsidiary as well as plans concerning the company’s continued operations. Although the company disclosed some information in various forms, the information was, according to the Disciplinary Committee, in certain aspects contradictory, incomplete and lacked significant details.
Dome was also found to have acted in breach of item 4.1 (a) of the Rulebook by not publishing a notice to attend the company’s 2015 annual general meeting in the manner prescribed in the Rulebook.
Further, Dome was concluded not to have met its obligations to hold an annual general meeting within the time stipulated in the Swedish Companies Act (2005:551). According to the Disciplinary Committee, this contributed to undermine confidence in the Exchange and the securities market in accordance with item 7.2.1 of Supplement B to the Rulebook.
Finally, the Disciplinary Committee found, based on the failings regarding particularly the information disclosure related to the divestment of the US subsidiary, that the company had contravened its obligation to uphold a sufficient capacity to provide information to the securities market in accordance with item 2.2.4 of the Rulebook.
In conclusion, the Disciplinary Committee found that the company’s breaches were to be regarded as serious and thus ordered Dome to pay a fine corresponding to seven annual listing fees to the Exchange.
A detailed description of the matter and the Disciplinary Committee’s decision are available at:
http://www.nasdaqomx.com/listing/europe/surveillance/stockholm/disciplinarycommittee/decisions/
Please see the attached documents for Swedish and English versions of the decision.
For further information about this exchange notice please contact Issuer Surveillance, telephone +46 8 405 60 00, or iss@nasdaq.com.
