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VALENS Holding AG: BaFin imposes administrative fines

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The sanction related to breaches by VALENS Holding AG of section 114 (1) sentence 2, as well as section 115 (1) sentences 1 and 2 of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG).

VALENS Holding AG had failed to publish announcements, stating the date and the website on which the accounting documents listed in section 114 (2) WpHG for the financial years of 2016, 2017 and 2018 were made publicly available in addition to their availability in the business register.

VALENS Holding AG had failed to make its half-yearly financial reports for the financial years of 2016, 2017 and 2018 publicly available within the prescribed period.
VALENS Holding AG had failed to publish an announcement, stating the date and the website on which the half-yearly financial report for the financial year of 2016 was made publicly available in addition to its availability in the business register.

The company can lodge an appeal against the administrative fine order.

Update (24.04.2020):

The administrative fine order is final and binding.

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