The Financial Supervision Authority issued a warning related to the delay in publishing the audited report for the financial year 2020
On 29 June 2021 Financial Supervision Authority issued a warning related to the delay in publishing the audited report for the financial year 2020.
Pursuant to the Securities Market Act, the issuer is required to publish its annual report within four months from the end of the financial year. AS Pro Kapital Grupp published its annual report on 12 June 2021, although the deadline was 30 April 2021. AS Pro Kapital Grupp has regularly informed investors about delay in publishing the annual report, has notified the Financial Supervision Authority separately and provided relevant explanations. In addition, Nasdaq Tallinn Stock Exchange added observation marks to the shares of AS Pro Kapital Grupp and suspended trading, as a result of which all market participants were aware about the delay. In addition to the above, the Financial Supervision Authority applied a warning penalty payment in the amount of 15 000 euros on AS Pro Kapital Grupp for non-compliance with the prescription issued on 3 May 2021, which obliged AS Pro Kapital Grupp to immediately disclose its 2020 annual report.
Due to the above circumstances, the Financial Supervision Authority considers it necessary to warn AS Pro Kapital Grupp that misdemeanor proceedings will be initiated against AS Pro Kapital Grupp, if similar circumstances are established.
The company made every effort to publish the audited annual report for the financial year 2020 as soon as possible. The Company aims to be open and transparent. Despite the fact that the annual report was not yet audited, the Company published interim report for the first quarter of 2021 on time.
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