On12 January 2023 , theOslo Stock Exchange resolved to impose a violation charge onEndur ASA ofNOK 200,000 for breach of the duty to disclose inside information.The Oslo Stock Exchange has passed the following resolution: "For breach of the duty to disclose inside information, a violation charge ofNOK 200,000 is imposed onEndur ASA , cf. MAR article 17 no. 1, cf. the Oslo Stock Exchange Rule Book Part II section 4.2.1.1, and cf. the Securities Trading Act section 21-1 (5), cf. section 19-1 (3), cf. the Securities Trading Regulation section 17-1. A brief summary of the case: After close of trading hours on31 August 2021 ,Endur ASA published that the company was in breach of a covenant pursuant to a loan agreement. It is theOslo Stock Exchange's opinion that the covenant breach was inside information at the latest on30 August 2021 , and that inside information thus was not published timely. One trading day passed from the time inside information at the latest was present, and until the matter was published. The duration can be a mitigating circumstance. However, it is an aggravating circumstance that the company did not have better routines and procedures to uncover the matter itself, especially in light of the fact that the loan agreement was executed earlier that same year. When determining the size of the violation charge, theOslo Stock Exchange's case handling time has been an especially mitigating factor. Based on an overall assessment, theOslo Stock Exchange has decided that the violation charge shall beNOK 200,000 , which under theOslo Stock Exchange's previous rules on violation charge would approximately constitute the company's annual listing fee.
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