Arbitration Court decision on Nordecon AS On Sep
Post# of 301275
On Sept 28, 2017 the TSE Court of Arbitration made a decision in the claim of Nordecon AS for annulling the Listing and Surveillance Committee's decision of April 27, 2017. With aforementioned decision, the Committee decided to impose a penal fine in the amount of 3200 euros to Nordecon AS for violation of the Nasdaq Tallinn Rules part “Requirements for Issuers”. See also Nasdaq Tallinn announcement “Committee's Decision On Nordecon” of April 28, 2017 https://cns.omxgroup.com/cdsPublic/viewDisclo...eId=969653 .
The Court of Arbitration decided as follows:
A. Dismiss the claim action of Nordecon AS for annulling (or partially annulling) the Llisting and Surveillance Committee's decision of April 27, 2017 about imposing the penal fine in the amount of 3200 euros.
B. To reclaim Nordecon AS to pay the arbitration fee paid by the Nasdaq Tallinn in favour of Nasdaq Tallinn and the fee for delayed payment under the Law on Obligations Act § 113 (2).
C. To leave the arbitration court procedure legal expenses paid by the parties.
Nasdaq Baltic Issuer Services +372 640 8800 www.nasdaqbaltic.com
Nasdaq Baltic is a common name for exchanges, regulated markets, alternative markets First North operated by Nasdaq companies in the Baltic states, i.e. Nasdaq Tallinn AS, Nasdaq Riga AS and AB Nasdaq Vilnius.
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