KNF suspends Hawe trading on WSE indefinitely

The Financial Supervision Authority KNF unanimously imposed PLN 700,000 fine on WSE-listed telecommunications infrastructure firm Hawe and suspended its trading on the Warsaw bourse indefinitely. The exclusion is a result of the repeated infringement by Hawe of the Public Offering Act, including through irregularities in the publication of current and periodic reports, whose timely and proper publication “allows to maintain the information balance on the capital market,” KNF said. The KNF adds that the failure to fulfill information obligations was multiple and took place in the long run. The exclusion of the company's securities will take place 30 days from the date on which the KNF’s decision becomes final. Hawe is currently undergoing bankruptcy proceedings.