Current report 5/2022
The Management Board of Atlantis SE informs that in connection with the request sent to the Stock Exchange on January 21, 2022 by a person claiming to be a representative of the Polish Financial Supervision Authority, with no name and surname, the listing of the Issuer is suspended from that date.
In the opinion of the Issuer’s Management Board, the request to suspend the quotation does not meet the statutory suspension conditions as it does not indicate detailed reasons for the suspension of the quotation. The Polish Financial Supervision Authority, being obliged to do so by the Act, did not meet the statutory criteria that must be included in the information about the suspension of quotation. Therefore, the Management Board is not able to establish the legitimacy of the suspension, and is not even able to find out the reason. It is worth emphasizing that the The Polish Financial Supervision Authority should disclose such information to the public ex officio immediately and not at the request of the Management Board or any other market participant.
Regardless of the reasons for this suspension, the Management Board is of the opinion that the suspension of the Issuer’s quotations is harmful to the market, even if there were market abuses by one or several shareholders. In such a case, the Polish Financial Supervision Authority should indicate these abuses in a public announcement, so that market participants can diagnose them and trade based on their knowledge of these abuses.
At the same time, the Management Board indicates that the Issuer fell victim to a similar unlawful suspension of quotations on October 25, 2012, when the Issuer’s shares were also suspended without giving any reason. Then, the Polish Financial Supervision Authority provided information that allegedly the shares of the Issuer had been manipulated, however, according to the knowledge of the Management Board of the Issuer, there has been no criminal proceedings in this case so far, so the reason for the suspension of the quotation was probably false and non-existent. In the opinion of the Management Board, even if the Issuer’s shares were actually manipulated at that time, this also does not in any way justify the suspension of the listing.
The Management Board is analyzing the possibility of reporting a notification of a crime committed against the persons / person who sent this notification to the WSE, in connection with Article 231 of the Penal Code. The decision of the Issuer’s Management Board will be made after getting acquainted with the reasons for the suspension of quotations, unless such are not disclosed to the Company within a reasonable time.
Currently, the Management Board, taking into account the above, and taking into account the low respect for the law on the part of the Polish Financial Supervision Authority officials, concludes with a high degree of probability that the reason for the suspension may either not exist or be false, or not justify the suspension of the company’s listing. However, what is worth emphasizing, the Management Board at the moment does not know the reason for suspending trading in the Company’s shares.
Importantly, regardless of the reason for the suspension of the listing, the mere lack of a detailed justification for the suspension of listing is a serious violation of the law on the part of the persons issuing such a decision.
Legal basis:
Other regulations
A person representing the Company:
Damian Patrowicz, President of the Management Board
Damian Patrowicz, ESPI system operator