Nasdaq Stockholm's disciplinary committee has today decided to impose a fine on Mips AB of two annual fees, equivalent to an amount of SEK 1,7m as a result of the company’s information disclosure procedures in connection with a statement from Mips’ CEO Max Strandwitz in an interview with Dagens Industri in September 2022 regarding the current situation on the bike market.

The disciplinary committee was of the opinion that the interview response from Mips, published in Dagens Industri on 12 September 2022, contained insider information and that Mips had breached the rules regarding disclosure of information to the market in article 17 of MAR.

"Mips does not share the disciplinary committee's view as the interview response did not contain any insider information, but merely constituted comments on the general, and well-known to the market, overall market situation without any specific information regarding the effects for Mips, but will of course, despite this, pay the fine," comments Magnus Welander, chairman of the Board Directors of Mips AB.

For more information, please contact:

Magnus Welander, Chairman of the Board of Directors
Email: magnus.welander@mipsprotection.com
Phone: +4670-332 55 04

About Mips

Mips specializes in helmet-based safety and is a world-leader in this area. Based on an ingredient brand business-model, Mips' safety system is sold to the global helmet industry. The technology is based on over 25 years of research and development together with the Royal Institute of Technology and the Karolinska Institute, both located in Stockholm, Sweden. Mips’ headquarter with 84 employees engaged in research and development, sales, marketing and administration is in Stockholm, where its product and technology test facility also is located. The Mips share is listed on Nasdaq Stockholm. For more information: www.mipscorp.com

Attachments

Mips' comment regarding Nasdaq Stockholm's disciplinary committee's decision

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