Media Release

09.02.2024

Fine against Highlight Event and Entertainment Ltd

The Sanctions Commission of SIX Group AG has sanctioned Highlight Event and Entertainment Ltd with a fine of CHF 40’000 for breaching the provisions on ad hoc publicity gross negligently.

SIX Exchange Regulation AG (SER) which is responsible for monitoring and enforcing stock exchange regulations concerning listed companies, opened an investigation against Highlight Event and Entertainment Ltd after having conducted a preliminary inquiry. Having completed a thorough investigation, SER issued a sanction notice. Highlight Event and Entertainment Ltd lodged an appeal with the Sanctions Commission of SIX Group AG against the sanction notice. The appeal was dismissed and Highlight Event and Entertainment Ltd was sanctioned by decision dated 9 November 2023 with a fine in the amount of CHF 40’000. The decision of the Sanctions Commission of SIX Group AG became legally binding after Highlight Event and Entertainment Ltd chose not to appeal.

The Sanctions Commission of SIX Group AG concurred with SER’s sanction notice regarding the alleged violations of the Listing Rules and the Directive on Ad hoc Publicity. It held that Highlight Event and Entertainment Ltd violated the provision on ad hoc publicity, by failing to publish the Annual Report 2021 with an ad hoc announcement.

The degree of fault has been qualified as gross negligent , the severity of the breach as moderate . In determining the level of fines, the Sanctions Commission of SIX Group AG considered the impact of the sanction on the party concerned.