Nasdaq Tallinn
Announcement from the exchange

Committee's decision on ELMO Rent AS

Tallinn, Estonia, 2024-07-10 11:30 CEST --  

On July 10, 2024, the Listing and Surveillance Committee of Nasdaq Tallinn decided to issue a fine of 3000 EUR to ELMO Rent AS if they do not submit and disclose their audited annual report by 01.11.2024. The fine is for violation of First North Rules (FNR) clauses 1.1., 3.2., 3.6., 26.2.1.and 26.2.2.

Background:

According to FNR clauses 1.1, 3.2. and 3.6. issuer admitted to trading on First North market is subject to FNR and to requirements of other legal acts, including the legal acts that regulate the public offers and disclosure of information. The Issuer shall comply with the requirements, incl. information disclosure requirements as specified in FNR.

According to FNR clauses 26.2.1. and 26.2.2. the annual report shall be prepared, and the Issuer shall submit the annual report audited by an auditor in accordance with applicable laws or other regulation of the Issuer’s home state. The Issuer shall submit a statement of an auditor together with the annual report.

Circumstances:

The deadline for submitting an audited annual report of the year 2023 for First North market issuers was July 1, 2024. ELMO Rent AS did not publish their audited annual report by this date.

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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.