On18 September 2023 , theOslo Stock Exchange resolved to impose a violation charge onSoftOx Solutions AS ofNOK 300,000 for breach of the duty to disclose inside information.The Oslo Stock Exchange has passed the following resolution: "For breach of the duty to disclose inside information, a violation charge ofNOK 300,000 is imposed onSoftOx Solutions AS , cf. MAR article 17 no. 1, cf. the Euronext Growth Oslo Rule Book Part II section 3.9.1, and cf. the Securities Trading Act section 21-1 (5), cf. section 19-1 (3), cf. the Securities Trading Regulation section 17-1." A brief summary of the case: After close of trading hours on15 February 2023 ,SoftOx Solutions AS announced that the company had liquidity issues. It is theOslo Stock Exchange's opinion that the liquidity issues constituted inside information on10 February 2023 , that the conditions for delayed disclosure were not met, and that the inside information was not timely published. Approximately five days passed, including three trading days, from the time inside information arose pursuant to theOslo Stock Exchange's assessment and until the matter was published. In theOslo Stock Exchange's opinion, the company did not make a timely assessment as to whether inside information was present, and the company's assessment of whether the conditions for delayed disclosure were met were incorrect. The relatively short duration of the breach and the company's limited financial strength are mitigating circumstances. Based on an overall assessment, theOslo Stock Exchange has decided that the violation charge shall beNOK 300,000 , which under theOslo Stock Exchange's previous rules on violation charge would approximately constitute two times the company's annual listing fee.
Click here for more information
© Oslo Bors ASA, source