The Disciplinary Committee of Nasdaq imposes a fine on Nordic Mines
(Thomson Reuters ONE) -
The English text is an unofficial translation of the Swedish original, and in
the event of any discrepancies between the Swedish text and the English
translation the Swedish text shall take precedence.
PRESS RELEASE, 28 July 2016
The Disciplinary Committee of Nasdaq Stockholm (the "Disciplinary Committee")
imposes a fine of seven times the annual listing fee [approx. MSEK 1,5] on
Nordic Mines AB (publ) ("Nordic Mines" or the "Company"). The decision made by
the Disciplinary Committee is partly based upon the Swedish Securities Council
previous appraisal that the approach by which Lao Su Holding AB was allowed to
subscribe for new shares in the Company's Rights Issue 2015 was not in
accordance with good practice on the stock market.
At the time of the rights issue the Company was in an extremely distressed
financial situation and could not see that any alternative options were
available. As is further set forth in the Company's previous statement to the
Securities Council, it is the view of the Company that there was a high
probability that the Finnish composition plan would have defaulted should the
Company have failed to complete the Rights Issue, which in turn could have led
to a new reorganisation, bankruptcy or other liquidation of the Company.
During 2016 the company has strengthened its organisation and a new management
team is in place from beginning of the year together with a new board.
For additional information, please contact:
D. Saradhi Rajan, CEO: +44 743 271 1564
For more information about Nordic Mines, please visit; www.nordicmines.se.
The information above has been made public in accordance with the Securities
Market Act and/or the Financial Instruments Trading Act. The information was
published at 04.00 p.m. (CET) on July 28, 2016.
Nordic Mines is a Nordic mining and exploration company. The Laiva mine in
Finland produced gold between 2011 and 2014. The deposit is among the largest in
the Nordic region. Nordic Mines is a member of SveMin and applies its reporting
regulations for public mining and exploration companies. The Nordic Mines share
has been admitted for trading on Nasdaq Stockholm's Small Cap list. Also refer
to www.nordicmines.se.
Press Release (PDF):
http://hugin.info/138647/R/2031512/755919.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Nordic Mines AB via GlobeNewswire
[HUG#2031512]
Unternehmensinformation / Kurzprofil:
Datum: 28.07.2016 - 16:00 Uhr
Sprache: Deutsch
News-ID 486123
Anzahl Zeichen: 3198
contact information:
Town:
Stockholm
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 268 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"The Disciplinary Committee of Nasdaq imposes a fine on Nordic Mines"
steht unter der journalistisch-redaktionellen Verantwortung von
Nordic Mines AB (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
