Disciplinary Committee Ruling on Oscar Properties Holding AB
Stockholm, December 13, 2024— The Disciplinary Committee of Nasdaq Stockholm (the “Exchange”) has closed a disciplinary case involving Oscar Properties Holding AB (“the Company”).
On October 21, 2024, the Exchange requested the Disciplinary Committee to assess a disciplinary case against the Company. The Exchange alleged that the Company had breached the Nasdaq Stockholm regulations (the “Rulebook”) in multiple instances:
- In 2024, the Company repeatedly failed to meet its obligation to disclose inside information per the EU Market Abuse Regulation (“MAR”). These failures included delays in disclosing inside information that significantly affected, and had the potential to affect, the Company’s share prices.
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The Company also consistently failed to comply with its obligations under the Securities Market Act (2007:528), Companies Act (2005:551), and the Rulebook:
- Throughout the first half of 2024, the Company was significantly late in publishing its financial reports, causing delays in the holding of the annual general meeting.
- The Company was without a CEO for over two months in 2024.
- During this period without a CEO, the Company did not maintain an updated information policy reflecting its organizational structure.
- The Company’s repeated breaches of information disclosure requirements under the Rulebook, applicable laws, and MAR indicate a lack of necessary procedures, controls, and systems, including those for financial reporting, to supply the market with reliable, accurate, and timely information.
The Exchange requested the Disciplinary Committee to consider delisting the Company’s shares from Nasdaq Stockholm.
On October 31, 2024, the Company was declared bankrupt and subsequently delisted by the Exchange on November 4, 2024. Consequently, the Exchange retracted its application from the Disciplinary Committee.
As the Exchange has withdrawn its application, the Disciplinary Committee has dismissed the case, which will not be subject to review.
The decision from the Disciplinary Committee can be accessed at:
https://www.nasdaq.com/market-regulation/nordic/stockholm/disciplinary/decisions-sanctions
About the Disciplinary Committee
The Nasdaq Stockholm Disciplinary Committee investigates suspected breaches of rules and regulations by Exchange Members or listed companies. If any breaches are suspected, the matter is referred to the Disciplinary Committee. Nasdaq Stockholm conducts an investigation, and the Committee issues rulings on potential sanctions, which may include warnings, fines, or delisting. Fines collected are allocated to a foundation that supports research in the securities market. The Chair and Deputy Chair of the Committee are required to be lawyers with judicial experience, and at least two additional Committee members must possess extensive knowledge of the securities market.
Committee Members: Former Supreme Court Justice Marianne Lundius (Chair), Supreme Court Justice Petter Asp (Deputy Chair), Supreme Court Justice Johan Danelius, Company Directors Anders Oscarsson, Joakim Strid, Lawyers Wilhelm Lüning, Patrik Marcelius, 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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