Finanssivalvonta - Company Announcement

Financial Supervisory Authority imposes penalty payments of EUR 5,000 to Ixonos Plc and Takoma Oyj

The Financial Supervisory Authority (FIN-FSA) has imposed a penalty payment of
EUR 5,000 to Ixonos Plc and a penalty payment of EUR 5,000 to Takoma Oyj for
acting in violation of the Securities Markets Act and the related supplementary
regulations issued by the FIN-FSA. In disclosing reports under the periodic
disclosure obligation, both companies have failed to ensure the publication, in
unedited full text via a stock market release, of such further information as
the auditor has included in the audit report. It was insufficient to publish
such matters that have a material effect on the value of shares as a report
attached to a stock market release or as a report available on the company’s
website. 

The omissions committed by Ixonos Plc apply to the information in the audit
report for the financial period 2014 and those committed by Takoma Oyj for the
financial period ending in October 2013. In addition, Takoma Oyj has failed to
comply with the requirement laid down in the Securities Markets Act to publish
the annual financial statement, the management report as well as the audit
report immediately after the auditors of the company had included in the audit
report such further information as referred to in the Act. 

The objective of the provisions concerning the disclosure obligation is to
ensure that investors have access to sufficient information on matters that are
likely to have a material effect on the value of a security. The purpose of
procedures relating to the disclosure of regulated information is to ensure
investors’ fast, equal, non-discriminatory and simultaneous access to the
information. 

The amount of a penalty payment is based on a comprehensive assessment taking
into account, the nature, extent and duration of the act and the financial
position of the person or entity subject to the penalty payment. A penalty
payment shall amount to no more than 10% of the turnover of the year preceding
the omission and to no more than EUR 10 million. The penalty payment is ordered
payable to the State. 

The decisions of the FIN-FSA are not yet legally binding. The companies have
the right to appeal the decisions of 22 November 2016 to the Market Court
within 30 days of the receipt of notice of said decisions. 

For further information, please contact

Sonja Lohse, Head of Director General’s Staff, Chief Advisor

Requests for interviews

FIN-FSA Communications, tel. +358 50 385 5154

Appendices

Decisions by the Financial Supervisory Authority

Ixonos Plc (pdf, in Finnish)

Takoma Oyj (pdf, in Finnish)

Attachments:

Paatos_Ixonos_22112016.pdf

Paatos_Takoma_22112016.pdf