Estonia, Legislation, Markets and Companies

International Internet Magazine. Baltic States news & analytics Thursday, 23.05.2013, 14:06

Kalev to pay a fine of 250,000 kroons for violating stock Exchange rules

Juhan Tere, BC, Tallinn, 27.10.2008.Print version
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The arbitrate tribunal of the Tallinn Stock Exchange finished proceedings over AS Kalev and determined that according to the agreement reached, Kalev will have to pay 250,000 kroons of contractual fine in monthly instalments of 50,000 kroons, writes the National Broadcasting.

On November 6 last year, the stock exchange’s listing and supervisory committee fined Kalev 250,000 kroons for violating the stock exchange’s rules.

 

Kalev contested this decision and presented an application for invalidating the decision of the committee. The arbitrate tribunal, however, did not repeal the committee’s decision.




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