Stockholm, December 27, 2016 – The Disciplinary Committee of Nasdaq Stockholm has found that Melitho AB (“Melitho”) has breached the rules of Nasdaq First North Bond Market (“the Rule Book”) and therefore decided that the company’s corporate bond is to be removed from Nasdaq First North Bond Market by February 28, 2017.
Melitho has failed to disclose information on numerous occasions, including financial reporting disclosures, and several irregularities have not been addressed despite repeated warnings from Melitho’s Certified Adviser and Nasdaq Stockholm. According to the Disciplinary Committee, Melitho has infringed rules 2.2.4, 4.1 (b), 4.2 (a), 4.2 (d), 4.3 (b), 4.3 (c), 4.6 (b), 4.6 (c), 4.6 (d), 4.9 and 4.10 (a) of the Rule Book. According to the Disciplinary Committee, Melitho has apparently lacked the requisite organization and resources for information disclosure.
The Disciplinary Committee also maintains that the repeated breaches of the Rule Book are undermining, and have undermined, public confidence in Nasdaq Stockholm, Nasdaq First North, and the securities market in general. That Melitho has taken measures in regard to its organization does not mean the Company can avoid disciplinary measures, according to the Disciplinary Committee. The number of breaches and poor organization demonstrated by Melitho represent both a serious violation of, and sign of disrespect for, the Rule Book. The Disciplinary Committee therefore makes the overall assessment that Melitho’s corporate bond is to be removed from trading by February 28, 2017.
A detailed description of the matter and the Disciplinary Committee’s decision is published at:
http://www.nasdaqomx.com/listing/europe/surve...decisions/
Participating in the Committee’s decision were former Supreme Court Justice Marianne Lundius, Supreme Court Justice Anne-Christine Lindeblad, MBA Ragnar Boman, Director Anders Oscarsson and Lawyer Wilhelm Lüning.
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