Nasdaq Tallinn
Announcement from the exchange

Committee's decision on AS Baltika

Tallinn, Estonia, 2022-09-20 15:40 CEST --

On September 20, 2022 the Listing and Surveillance Committee of Nasdaq Tallinn decided to impose a fine in the amount of 3000 euros to AS Baltika for violation of Nasdaq Tallinn rules and regulations chapter Requirements for Issuers (hereinafter RI) clauses 1.2.1, 2.4.1, 6.1, 6.2 and 7.9.

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 6.1. the Issuer is required to immediately disclose any circumstances and events which have, or may have, a substantial effect on the business operations or financial situation of the Issuer including information according to RI clause 6.1.3 the conclusion, termination or cancellation of contracts important for the Issuer.

According to RI clause 6.2. transactions or investments or project beyond the scope of day-to-day operations or with significant importance are understood as transactions of the Issuer or its subsidiary for which the sum paid or to be received for assets, including the market value of assets or securities and the debts or loans assumed by the Issuer are equal to or exceed 10% of the Issuer's equity according to the latest audited consolidated balance sheet.

According to RI clause 7.9.3 the Issuer is obliged to disclose immediately information about transactions with persons connected with the Issuer.

According to RI clause 7.9.4. a transaction of the Issuer or its subsidiary with a connected person is considered significant if the monetary value of the transaction is larger than thirty per cent (30%) of the Issuer's consolidated equity recorded in the last audited balance sheet. If during the last twelve (12) months more than one transaction has been effected with a single person, or a person or company connected with such person, all such transactions shall be summarised in order to determine the significance of a transaction.

According to RI clauses 7.9.5. upon effecting a significant transaction with a person connected with the Issuer, the Issuer shall submit the transaction for approval to the general meeting of shareholders along with the auditor's opinion that the transaction does not damage the interests of the shareholders not concerned by the transaction

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

AS Baltika has failed to comply with the obligation to disclose information as set in the Requirements for Issuers, neither did AS Baltika submit a significant transaction with a related party for approval to the general meeting of shareholders.

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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