The Disciplinary Committee at OMC Nordic Exchange Stockholm has decided that
CISL Gruppen's shares shall no longer be traded at First North due to CISL
providing the market with misleading information about the company. The
delisting will become effective within one week.
The shares of CISL Gruppen AB are traded on First North, the alternative market
operated by OMX Nordic Exchange Stockholm. According to the rules and
regulations for First North, a company whose shares are traded on this
marketplace must have an organization and staffing that can cope with providing
relevant information about the company to the market. In addition, the
information must be accurate, relevant and reliable and no circumstances may be
omitted that can influence assessments of the company. The information shall be
published as soon as possible. The regulations also state that if a company, in
essential respects, breaks the rules or no longer meets the requirements, the
company's shares can be delisted.
The Committee has established that CISL, continuously during 2006 and 2007,
submitted excessively positive information about the company, while negative
information was withheld from the market. CISL also neglected to submit
information on holdings of 150 million of subscription rights in an associate
company and published information concerning the Board's decision pertaining to
two share issues far too late. Moreover, the CISL Gruppen shares have been
placed on the First North's observation list for eight months - such a position
shall normally not exceed six months - and it is not possible to predict when
the company could be returned to its ordinary position in the share list.
The Exchange's Disciplinary Committee has decided that the CISL shares shall no
longer be traded on First North. The final day for trading will be February 12,
2008.
For more information, please contact:
Jonas Rodny press relations, OMX Nordic Exchange Stockholm +46 8 405 72 67
About the Disciplinary Committee | The role of OMX Nordic Exchange in
Stockholm's Disciplinary Committee is to consider suspicions regarding whether
Exchange Members, brokers or listed companies have breached the rules and
regulations applying on the Exchange. If the Exchange suspects that a member,
broker or listed company has acted in breach of the Exchange's rules and
regulations, the matter is reported to the Disciplinary Committee. The Exchange
investigates the suspicions and pursues the matter and the Disciplinary
Committee issues a ruling regarding possible sanctions. The sanctions possible
for listed companies are a warning, a fine or delisting. The fines that may be
imposed range from one to 15 annual fees. The sanctions possible for Exchange
Members are a warning, a fine or debarment, while brokers may be warned or have
their brokerage license rescinded. The Disciplinary Committee's Chairman and
Deputy Chairman must be lawyers with experience of serving as judges. At least
two of the other members of the Committee must have in-depth insight into the
workings of the securities market.
Members: Supreme Court Justice Johan Munck (Chairman), Supreme Court Justice
Marianne Lundius (Deputy Chairman), Madeleine Leijonhufvud (professor), Stefan
Erneholm (company director) and Hans Mertzig (company director). Deputy Members:
Hans Edenhammar (MBA), Claes Beyer (lawyer), Jack Junel (company director),
Ragnar Boman (MBA) and Carl Johan Högbom (MBA).
About OMX | OMX is a leading expert in the exchange industry. The OMX Nordic
Exchange comprises over 800 companies including its alternative market First
North. OMX provides technology to over 60 exchanges, clearing organizations and
central securities depositories in over 50 countries. The Nordic Exchange is not
a legal entity but describes the common offering from OMX exchanges in Helsinki,
Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. OMX is a Nordic
Large Cap company in the Financials sector on the OMX Nordic Exchange. For more
information, please visit www.omxgroup.com.
