Decision by the Disciplinary Committee on ELLWEE AB (publ)
Stockholm, January 7, 2025 – The Disciplinary Committee of Nasdaq Stockholm (the “Exchange”) has determined that ELLWEE AB (publ) (the “Company”) violated the rules set forth in the Nasdaq First North Growth Market (the “Rulebook”) and has consequently imposed a fine equivalent to three annual fees, amounting to SEK 366,000.
At the end of 2023, the Company conducted a partially guaranteed rights issue and announced the results on December 18, 2023. The announcement specified that the guarantor had subscribed to 78.7 percent of the shares issued. Following this, a three-day payment window opened for the shares. However, the guarantor failed to fulfill their obligation to pay within the designated timeframe or in close proximity to it. The Company only disclosed the delay in payment on February 26, 2024.
The Disciplinary Committee observes that the information regarding the guarantor’s delayed payment constituted inside information as per the EU Market Abuse Regulation, and the Company did not disclose this information promptly.
The Committee finds that the Company breached Article 17.1 of the EU Market Abuse Regulation and point 4.1.1 of the Rulebook. Considering the seriousness of the violation, the Disciplinary Committee has decided to impose a fine of three annual fees.
The Disciplinary Committee’s decision can be viewed at:
https://www.nasdaq.com/market-regulation/nordic/stockholm/disciplinary/decisions-sanctions
About the Disciplinary Committee
Nasdaq Stockholm’s Disciplinary Committee is responsible for investigating allegations of violations of the Exchange’s rules and regulations by Exchange Members or listed companies. When such concerns arise, the matter is directed to the Committee for investigation and ruling on potential sanctions. Sanctions for listed companies may include a warning, a fine, or delisting, while Exchange Members may face a warning, a fine, or debarment. Fines collected are not part of the Exchange’s revenue but are allocated to a foundation supporting research in the securities market. The Committee’s Chairman and Deputy Chairman must be lawyers with judicial experience, and at least two other members should possess significant knowledge of the securities market.
Committee Members include: Former Supreme Court Justice Marianne Lundius (Chairman), Supreme Court Justice Petter Asp (Deputy Chairman), Supreme Court Justice Johan Danelius (Deputy Chairman), 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.
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