Committee´s decision on Baltika Tallinn, Estonia,

Tallinn, Estonia, 2013-10-03 15:31 CEST (GLOBE NEWSWIRE) --  

On October 3, 2013, the Listing and Surveillance Committee of NASDAQ OMX Tallinn decided to impose a fine in the amount of 2 000 euros to AS Baltika for violation of NASDAQ OMX Tallinn rules and regulations chapter Requirements for Issuers (hereinafter RI) clauses 1.2.1, 2.1.7, 2.1.8 and 2.4.1.

Background:

According to RI clause 1.2.1 the Issuer is obliged to secure disclosure of information stated in RI in such a form and within such time limits as specified in RI.

According to RI clause 2.1.7 the Issuer is required to ensure that no undisclosed inside information that may affect the price of listed securities is made known to unauthorised persons before such information is made public through the Exchange Information System. For the purposes of these Requirements, people authorised to have access to inside information are people who need such information for the performance of their ordinary duties, and person whose entitlement to such information arises from the provisions of legislation. Persons, being in possession of confidential information are insiders.

According to RI clause 2.1.8 the Issuer shall not disclose information subject to disclosure according to these Requirements including inside information by any means through other channels including in reports, comments, interviews or other means until such information has been made public through the Exchange Information System except in cases when it is prescribed by the law. An Issuer is required to ensure that such information is made public by means provided in clause 2.4 of these Requirements.

According to RI clause 2.4.1 information is deemed disclosed when it is made public as a notice through the Exchange Information System.

On August 8, 2013, at 10:29 newspage ERR.ee published an article which contained yet undisclosed 2013 second quarter financial results of AS Baltika, including second quarter and half year profit figures. Similar news was published at 10:44 by BNS and at 10:50 by Ärileht.

AS Baltika published its 2013 half year results via official information distribution system of the Exchange on August 8, 2013, at 11:04 i.e. more than 30 minutes after the first article appeared in media.

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