Announcement from the exchange
Arbitration Court decision on Olympic Entertainment Group AS
Tallinn, Estonia, 2018-11-09 13:35 CET (GLOBE NEWSWIRE) --
On November 9, 2018 the TSE Court of Arbitration made a decision in the claim of Olympic Entertainment Group AS for annulling the Listing and Surveillance Committee's decision of May 31, 2018.
The Court of Arbitration decided as follows:
1. Dismiss the claim action of Olympic Entertainment Group AS for annulling the Listing and Surveillance Committee's decision of May 31, 2018.
2. To leave the arbitration procedure legal expenses paid by Olympic Entertainment Group AS and to reclaim Olympic Entertainment Group AS to cover the arbitration fee and legal expenses paid by Nasdaq Tallinn AS.
The composition of the Court of Arbitration: Villu Kõve (chairman), Paul Varul, Ott Saame.
The contested decision of the Listing and Surveillance Committee is available here:
Olympic Entertainment Group AS has submitted an appeal to the Arbitration Court of Tallinn Stock Exchange on June 28, 2018, with the claims as follows:
To determine the decision made by the Listing and Surveillance Committee (Commission) on May 31, 2018 unlawfulness and nullity.
Declare that delisting application submitted by the applicant on May 15, 2018, is legitimate and justified.
Obligate the Commission to complete delisting of the applicant's shares on the Main List of the Exchange in accordance with the applicant's request of May 15, 2018.
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Nasdaq Baltic is a common name for exchanges, regulated markets, alternative markets First North operated by Nasdaq companies in the Baltic states, i.e. Nasdaq Tallinn AS, Nasdaq Riga AS and AB Nasdaq Vilnius.