The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 460,000 on LLB Invest Kapitalanlagegesellschaft m.b.H. for belated notifications about participation thresholds being exceeded pursuant to Article 130 et seq. of the Stock Exchange Act 2018 (BörseG 2018; Börsegesetz 2018). Specifically, LLB Invest Kapitalanlagegesellschaft m.b.H. failed to promptly notify the FMA, the exchange operating company as well as the issuer (POLYTEC Holding AG ) about the threshold for voting rights in shares being exceeded. Under the provisions on the disclosure of participations under Articles 130 et seq. BörseG, the market is required to be informed about the issuer’s shareholding structure. The penal order is not final.
LLB Invest Kapitalanlagegesellschaft m.b.H. has lodged an appeal to the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) against the penal order.