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SEC: Fine of €25k to EXF

24/03/2009 13:15
The Securities and Exchange Commission imposed an administrative fine of €25,000 to G & K Exclusive Fashions for violating article 9(1) of the Transparency Requirements Law 2007 (Ν.190(Ι)/2007). The decision was taken on January 26, 2009 but was published today.

Pursuant to Article 9(1) of Ν.190(Ι)/2007, “the issuer is obliged to publish its annual financial report the soonest possible and the latest within four months after the end of each financial year.

The administrative fine was imposed to the Company because it failed to publish its annual financial statements for 2007 within four months from the end of the financial year, that is, until April 30, 2008.

The Company released its annual financial statement for 2007 on December 17, 2008.