In addition, the company had failed to publish an announcement about the date from which and the website where this half-yearly financial report was made publicly available.

Half-yearly financial reports are available in the Company Register. However, companies must announce when and where their financial reports are published in addition to this.

The individual in a management position at the issuer has lodged an appeal against the administrative fine order.

Background information: Financial reports provide information on companies’ net assets, financial position and results of operations. This information is important for investors because it allows them to make informed investment decisions. Companies that are domiciled in Germany and issue securities traded on an organised market in Germany must publish a half-yearly financial report no later than three months after the end of each reporting period.

In addition, they must publish an announcement about the date from which and the website where their half-yearly financial reports are made publicly available, in addition to their availability in the company register.

Such announcements must be published no later than three months after the end of each reporting period and before the half-yearly financial report.

Failure on the part of a company to publish financial reports and the corresponding announcements, or failure to do so within the prescribed period, constitutes a contravention of the Securities Trading Act.

BaFin may punish these contraventions in each case by imposing an administrative fine. If imposed on a natural person, this fine can be up to 2 million euros. If a company contravenes financial reporting requirements, BaFin may hold the individual in a management position at the company accountable for this.