DLH accepts DKr100,000 inside information fine6 January 2014
Denmark-based hardwoods and panels importer and distributor DLH has accepted a fine of DKr100,000 for the alleged violation of the company’s obligation to announce inside information as quickly as possible.
The fine relates to DLH’s divestment of land and property in Belem, Brazil in December 2012. DLH made an announcement on December 28, 2012 to say it had divested the property seven days earlier on December 21.
The Danish Financial Supervisory Authority said DLH has an obligation under the Danish Securities Act to announce inside information as quickly as possible.
DLH says its action was timely, arguing that the divestment was not final on December 21 but only shortly prior to the announcement.
“However, the company’s management has decided not to pursue this point of view any further due the financial and managerial resources this would require,” said DLH.