Last day of trading for Abaris Ejendomme A/S
The trading in Abaris Ejendomme A/S will end due to the reasons mentioned below.
Last day of trading will be on 19 November 2007.
Shortname: ABARIS
ISIN: DK0060081271
Orderbook ID: 40477
The stock is being delisting, due to the fact that First North repeatedly has
requested the management of the company to get a statement regarding the
conditions within the company, including the allegations that were published
through the press on 18 October and 19 October 2007, the matter in question
apparently being the main activities of the company. First North has not
succeeded in getting this information.
The Certified Adviser for Abaris Ejendomme, Nordic Corporate Finance, announced
on 19 October 2007, that they no longer wished to be Certified Adviser for
Abaris Ejendomme A/S. Furthermore the Certified Adviser stated that the
chairman of the board of directors, Dan Terkildsen, and member of the board of
directors, Michael Eide, resigned from the board on 19 October 2007.
The CEO of the company, being the only remaining member of the board, Kaj
Thisted, announced on 29 October 2007 that he had resigned from the company's
management. Therefore the company is without a Certified Adviser, management
and board of directors.
In the light of the additional insecurity concerning the company's situation on
29 October 2007, First North suspended the trading of the shares in Abaris
Ejendomme. The trading with the company's shares is still suspended.
With effect from 20 November 2007, First North has decided to delete the
company's shares from the trading on First North. The deletion is carried out
on the basis of section 7.2.2 in Rulebook for First North and the Securities
Trading Act section 42e (1).
The decision of the deletion is based on the following:
•There is decisive insecurity concerning the conditions of the company.
•First North has repeatedly tried to contact the management of the company to
get a clarification of the conditions of the company. This has not been
possible.
•The company's Certified Adviser has left the company with reference to the
fact that it was not possible to get access to information from the company and
therefore the Certified Adviser were not able to fulfil their obligations.
•Both the board of directors and the management of the company have decided to
leave the company with reference to the insecurity that has arisen.
•Initiative has not been taken, to re-establish the managerial situation of the
company.
•A company on First North must have the right organization and the right
employees to fulfil the demands, concerning disclosure of information to the
market. This is not the case for Abaris Ejendomme.
•In reality the company has closed down and no longer exists as a company
admitted to trading, since it has not responded to the approaches from First
North, since it does not publish announcements, since it has no management and
no steps have been taken to re-establish the situation.
First North has concluded that a company does not exist, with the competencies
or the will to meet the conditions that derive from being a company admitted to
trading on First North. Thus First North has decided to not have Abaris
Ejendomme admitted to trading on First North. As a consequence, Abaris
Ejendomme is deleted from First North.
For further information, see the company announcements from Abaris Ejendomme.
