HANFA made the decision to initiate a misdemeanour proceeding against Dalekovod for a market abuse offense prescribed by the EU Market Abuse Regulation.

Croatian Financial Services Supervisory Agency (HANFA) made the decision to initiate a misdemeanour proceeding against Dalekovod for a market abuse offense prescribed by the EU Market Abuse Regulation. According to HANFA, Dalekovod did not make public inside information. Firstly, according to HANFA, the company did not publish the information that they received the expressions of interest concerning financial restructuring. Furthermore, Dalekovod decided to conduct negotiations with one of the bidders who expressed interest to participate in the financial restructuring in which the largest creditor of Dalekovod would also participate.

HANFA supervised actions of Dalekovod in the period of 4 February to 21 May 2021 and concluded that above-mentioned information about financial restructuring constitute inside information which a reasonable investors would be likely to use while making his/her investment decisions on companies’ shares.

As a reminder, Dalekovod also received a lawsuit from minority shareholders for the financial restructuring in question and capital decrease. You can read more detailed information on the lawsuit in our previous post.