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BRIEF-KNF imposes 300,000 zloty fine on Baltic Bridge
April 12, 2017 / 9:50 AM / 5 months ago

BRIEF-KNF imposes 300,000 zloty fine on Baltic Bridge

April 12 (Reuters) - Polish Financial Supervision Authority (KNF):

* Said on Tuesday that it resolved to impose a 300,000 zloty ($75,024) fine on Baltic Bridge SA

* The fine is for not fulfilling the obligation to inform that on Feb 5, 2010, its unit CR Media Consulting SA resolved that there were circumstances to file a motion for bankruptcy with possibility of arrangement

* The company also did not inform KNF about the information received from its shareholder about exceeding 33 pct of the votes in the company by entities included in an investment agreement

* KNF also withdrawals its former decision from July 7, 2015, which imposed 350,000 zlotys fine on the company, due to worsening of the company’s financial situation

Source text - bit.ly/2nB93ft

Further company coverage: ($1 = 3.9987 zlotys) (Gdynia Newsroom)

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