The Disciplinary Committee of Nasdaq Stockholm has found that AVTECH Sweden AB (“AVTECH” or the “Company”) has breached the Nasdaq First North Growth Market Rulebook (the “Rulebook”) and therefore ordered the Company to pay a fine of four annual fees, corresponding to an amount of SEK 400,000.            

The Disciplinary Committee concludes that AVTECH has breached item 4.1 of the Rulebook by disclosing inside information on an agreement half an hour after the counterparty disclosed information on the same agreement, and thereby not as soon as possible as required by Article 17 of the EU Market Abuse Regulation. The Disciplinary Committee also concludes that the Company, prior to its disclosure, did not establish required documentation on its decision to delay inside information to the market.  

Furthermore, the Disciplinary Committee concludes that AVTECH breached item 4.2.3 (a) of the Rulebook in connection to its disclosure of notice to the Company’s annual general meeting, by not including information about material proposals to the meeting or the complete notice as an attachment.

The Disciplinary Committee’s decision is available at:

https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2020