Appeal on violation charges forwarded to the Stock Exchange Appeals CommitteeStock Markets — By admin on April 25, 2012 at 10:42 AM
At its meeting on 25 April 2012, the Board of Directors of Oslo Børs resolved to uphold its decision to impose violation charges on Cecon ASA for i.a. the company’s failure on two occasions to arrange for new shares to be admitted to listing. The appeal is forwarded to the Stock Exchange Appeals Committee.
The Board of Directors of Oslo Børs resolved on 29 February 2012 to to impose violation charges of total NOK 700 000 on Cecon ASA for the company’s failure on two occasions to arrange for new shares to be admitted to listing without unnecessary delay following the registration of the increase in share capital, and for a failure to publicly disclose a change to the company’s share capital in connection with the exercise of independent subscription rights.
CECON ASA has in a letter dated 21 March 2012 appealed the decision.
The Board of Oslo Børs resolved at its meeting on 25 April 2012 to uphold its decision from the 29th February and the complaint from CECON is submitted to the Stock Exchange Appeals Committee.