The Board of the Bank of Lithuania imposed a fine to the Chairman of the Board of the company
AB “Pieno žvaigždės” (hereinafter, the “Company”) received the information that the Board of the Bank of Lithuania (hereinafter, the “BoL”) imposed a €25 thousand fine to the Chairman of the Board of the Company Julius Kvaraciejus. The BoL considers that Julius Kvaraciejus, who has indirectly conducted a transaction in the Company’s shares breached the prohibition, foreseen in the EU Market Abuse Regulation, according to which a person discharging managerial responsibilities within an issuer is not allowed to conduct any transactions on its own account or for the account of a third party, directly or indirectly, relating to the shares of the Company during a closed period of 30 calendar days before the announcement of an interim financial report or a year-end report.
On 7 September 2018 the shareholder of the Company Rokas Kvaraciejus acquired 72,279 shares for a price of EUR 78,061.32. In the opinion of the BoL, Julius Kvaraciejus has provided the funds for him for the indicated transaction, thus, breaching the prohibition to conclude the transactions during the prohibitive period for the managers to trade in company‘s shares.
This resolution of the Board of the BoL is not final and may be appealed, following the order, indicated in the legal acts.
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