Nasdaq Stockholm Orders Bayn Europe AB To Pay A Fine Corresponding To Four Annual Fees

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

The Disciplinary Committee has found that the Company’s disclosure of inside information on March 4, 2019, regarding order intake, was not made as soon as possible as a result of an unnecessary long verification process prior to the disclosure. The Company thereby breached Article 17 of MAR and consequently item 4.1 of the Rulebook.

Also, the Disciplinary Committee has found that inside information disclosed by the Company on January 10, 2020, regarding an ongoing acquisition of another company, was misleading in terms of how far in the acquisition process the two parties had come, and also not sufficient to enable a complete and correct assessment of it. Thus, the Company again breached Article 17 of MAR and item 4.1 of the Rulebook.

In sum, the Disciplinary Committee has found that the Company on two occasions has breached item 4.1 of the Rulebook, and also that the Company at the time of these events did not have the adequate capacity for information disclosures to the market as required under item 2.3.5 in the Rulebook. The Disciplinary Committee considers these violations serious and has therefore ordered the Company to pay a fine corresponding to four annual fees.

A detailed description of the matter and the Disciplinary Committee’s decision is available at:

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

Participating in the Committee’s decision were former Supreme Court Justice Marianne Lundius, M.B.A Ragnar Boman, Authorized Public Accountant Magnus Svensson Henryson, Company Director Carl-Johan Högbom and Lawyer Patrik Marcelius.

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