NORDIC MONTHLY SURVEILLANCE REPORT AUGUST 2013

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1 NORDIC MONTHLY SURVEILLANCE REPORT AUGUST 2013 The rules of the exchange as well as the methodology of the surveillance are in substance harmonized between the NASDAQ OMX exchanges in the Nordic countries. Due to national regulations however, there might be differences. For the reader to be able to distinguish the differences, some of the articles will be marked with flags to highlight this circumstance. The Exchange refers to NASDAQ OMX as relevant in each local jurisdiction. All necessary forms and other relevant documents related to listings and issuer specific matters are available on NASDAQ OMX Nordic: or STOCKHOLM Issuer Surveillance NASDAQ OMX has criticized a company on the Main Market for not properly disclosing information regarding changes in top management. Significant changes in top management shall be disclosed, Rulebook for Issuers. Disclosure of information covered in the Rulebook shall be made as soon as possible, On August 2, 2013, the Exchange decided to delist the shares and warrants of Artimplant AB after the District Court of Gothenburg has on August 1, 2013, had granted Artimplant AB s bankruptcy petition. The trading in the shares and warrants of Artimplant AB was halted on July 31, 2013, and were not resumed. Observation status Nordic Mines EpiCept Höganäs AB proposed merger. public offer. Trading Surveillance Six cases have been reported to the Swedish FSA during the month, in accordance with the Exchange s obligation to refer matters of suspected market abuse. All of these cases concerned suspected illegal insider trading. Nordic Surveillance 1

2 Surveillance of financial reporting During the month (full year) the Exchange has sent the following number of closing letters to companies whose reports have been subject to special examination. Category Annual report (shares) 0 (0) 0 (0) 0 (0) 0 (1) Interim reports (shares) N.A. 0 (0) 0 (0) 0 (0) Annual reports (bonds) 0 (0) 0 (0) 0 (0) 0 (0) Interim reports (bonds) N.A. 0 (0) 0 (0) 0 (0) Follow-up / other cases 0 (23) 0 (0) 0 (1) 0 (0) Category 1 - no remark Category 2 - remark regarding disclosure Category 3 - criticism Category 4 - statement of reprimand transferred to the disciplinary committee HELSINKI One listed company received a reprimand for breaching the rule according to which the stock exchange has the right to obtain any information from listed companies required for the surveillance of the provisions, decisions, agreements, commitments and good securities market practice. The company didn t give the stock exchange information about a project, which would have been relevant for these surveillance purposes. The stock exchange had noticed a rise in the share price and asked the company what could be a possible reason for this. Two cases of possible misuse of insider trading were forwarded to the Finnish FSA. On August 19, 2013, the shares of Etteplan Oyj were given observation status, because Ingman Group Oy Ab made a public tender offer in respect of the company. Observation status Etteplan Oyj public offer. Stonesoft Corporation GeoSentric Oyj public offer Uncertainty concerning the COPENHAGEN Trading in Sjælsø Gruppen A/S was suspended as the company announced its filing for reconstruction. Subsequently the company was delisted as it went into bankruptcy. Nordic Surveillance 2

3 A matching halt was made in 28 Jyske Invest funds due to a technical problem. The trading was resumed after the problem had been resolved. A matching halt was made in 28 Jyske Invest funds due to a technical problem. The trading was resumed after the problem had been resolved. A matching halt was made in the SPIMAK due to reorganization in the division. The trading was resumed after the problem had been resolved. A matching halt was made in 18 Nykredit Invest funds as Nykredit Invest was not able to calculate the Net Asset Value. The trading was resumed after the problem had been resolved. A matching halt was made in 12 Multi Manager Invest funds as Multi Manager Invest was not able to calculate the Net Asset Value. The trading was resumed after the problem had been resolved. A matching halt was made in 3 BIL Nordic Invest funds as BIL Nordic Invest was not able to calculate the Net Asset Value. The trading was resumed after the problem had been resolved. A matching halt was made in 3 HP Invest funds as HP Invest Invest was not able to calculate the Net Asset Value. The trading was resumed after the problem had been resolved. On August 14, 2013, Lollands Bank A/S and Vordingborg Bank A/S received observation status as the boards of directors in Lollands Bank and Vordingborg Bank have decided to seek the two banks merged. On August 14, 2013, Nordicom A/S received observation status as the company has announced that the equity is negative. On August 9, 2013, the observation status in EuroInvestor.com A/S was removed as the result of the mandatory public offer to the shareholders has been disclosed. Observation status Lollands Bank Vordingborg Bank Nordicom Trifork Strategic Investments Formuepleje Epikur Formuepleje Merkur Formuepleje Pareto Formuepleje Penta The company is considering applying for delisting. Nordic Surveillance 3

4 Formuepleje Safe Netop Solutions Viborg Håndbold Klub Østjydsk Bank Sparekassen Faaborg Formuepleje LimiTTellus Formuepleje Optimum BioPorto Blue Vision A/S Vestjysk Bank Victoria Properties KlimaInvest Nordic Shipholding A/S DKTI The company has applied for delisting. ICELAND Nothing to report. Observation status Félagsbústaðir hf The issuer has exercised a call option and aims for delisting the bonds. Eyrir Invest hf The issuer has made an offer for all listed bonds with the aim of delisting. Íbúðalánasjóður Due to uncertainty regarding the price information of the bonds. Fljótsdalshérað HS Orka hf Uncertainty concerning financial restructuring. Nordic Surveillance 4

5 Jeratún ehf Reykjanesbær Reykjaneshöfn FIRST NORTH One company on First North was criticized regarding its methods for publication of price sensitive information. The company had announced its interim reports through press releases, without indicating in the press release that the equity was negative. The information was only available through the interim reports. On August , the trading in New Equity Venture International AB (First North ) was halted to enable the company to disclose correction of previously published press release regarding the company s interim report. On August , the Exchange decided to give Drillcon AB (First North ) observation status after AB Traction, on August , had published a press release with information about a mandatory offer on the shares in Drillcon AB. On August , the Exchange decided to give Dannemora Mineral AB (First North ) observation status in regards of a significant uncertainty regarding the company s financial situation. On August Dannemora Mineral AB, had published a press release with information that the company had obtained waivers from covenant in the bond agreement. Dannemora Mineral AB released its report for the second quarter on August 26, 2013, with information that the company negotiates with the bondholders to produce a plan to solve the Company s needs of working capital for the rest of Observation status First North Dannemora Mineral Drillcon Paradox Entertainment Nordic Mines European Wind Investment Lappland Goldminers AB Isconova AB Avtech Sweden AB Nordic Surveillance 5

6 FastPassCorp Aktiv Formue Forvaltning Stratego Luxonen S.A ForestLight Entertainment AB Mediaprovider Scandinavia AB Selena Oil & Gas AB RURIC AB Kancera AB ChronTech Pharma AB Aqualife KIF Håndbold Elite The company's report of annual earnings figures 2012 shows that the company has lost more than 50% of the share capital. The company has applied for delisting. Proposal to liquidate the company. Moved from Main Market to First North per company's assets The company announced it will seek to raise capital as soon as possible in order to generate sufficient capital resources for continued operation of group activities. The company has lost more than half of the share capital. Nordic Surveillance 6

7 CONTACTS Issuer Surveillance surveillancedk@nasdaqomx.com (switchboard) survo@nasdaqomx.com (switchboard) Island surveillance.ice@nasdaqomx.com (switchboard) Trading Surveillance ts@nasdaqomx.com tsc@nasdaqomx.com survo@nasdaqomx.com (switchboard) Island surveillance.ice@nasdaqomx.com (switchboard) Nordic Surveillance Nordic Surveillance 7