Stockholm, December 13, 2024- The Disciplinary Committee of Nasdaq Stockholm (the "Exchange") has dismissed a disciplinary case concerning Oscar Properties Holding AB ("the Company").
On October 21, 2024, the Exchange requested the Disciplinary Committee to review a disciplinary case against the Company. The Exchange claimed that the Company had violated the rules of Nasdaq Stockholm (the "Rulebook") in the following ways:
- The Company repeatedly failed in 2024 to fulfill its obligation to disclose inside information in accordance with the EU Market Abuse Regulation ("MAR"). The violations involved late disclosure of inside information that had both the potential to and actually did significantly impact the price of the Company's shares.
- The Company has repeatedly failed in 2024 to fulfill its obligations under the Securities Market Act (2007:528), the Companies Act (2005:551), and the Rulebook.
- During the first half of 2024, the Company was significantly delayed in publishing all financial reports. The late publication of the annual report also resulted in the annual general meeting being held late.
- The Company lacked a CEO for more than two months in 2024.
- During the months without a CEO, the Company lacked an information policy that was current in relation to the Company's organization.
- The Company's repeated violations of the information disclosure requirements in the Rulebook, law, and MAR, show that the Company lacked the necessary routines, controls, and systems, including systems and routines for financial reporting, to meet the Rulebooks' requirements to provide the market with reliable, accurate, and timely information.
The Exchange requested that the Disciplinary Committee decide to delist the Company's shares from Nasdaq Stockholm.
On October 31, 2024, the Company was declared bankrupt, and its shares were delisted by the Exchange on November 4, 2024. In light of this, the Exchange has chosen to withdraw its application from the Disciplinary Committee.
As the Exchange has withdrawn its application, the Disciplinary Committee has dismissed the case. The case will therefore not be reviewed by the Disciplinary Committee.
The Disciplinary Committee's decision is available at:
https://www.nasdaq.com/market-regulation/nordic/stockholm/disciplinary/decisions-sanctions
About the Disciplinary Committee
The role of Nasdaq Stockholm's Disciplinary Committee is to consider suspicions regarding whether Exchange Members or listed companies have breached the rules and regulations applying on the Exchange. If the Exchange suspects that a member or company has acted in breach of the rules, the matter is referred to the Disciplinary Committee. Nasdaq Stockholm 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 sanctions possible for Exchange Members are a warning, a fine or debarment. Fines paid are not included in the Exchange's business but are attributed to a foundation supporting research in the securities market. 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: Former Supreme Court Justice Marianne Lundius (Chairman), Supreme Court Justice Petter Asp (Deputy Chairman), Supreme Court Justice Johan Danelius, Company Director Anders Oscarsson, Company Director Joakim Strid, Lawyer Wilhelm Lüning, Lawyer Patrik Marcelius, Lawyer Erik Sjöman, MBA Carl Johan Högbom, Authorized Public Accountant Magnus Svensson Henryson, Former Authorized Public Accountant Svante Forsberg, Lawyer Magnus Lindstedt and director Kristina Schauman.
About Nasdaq
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