The Finnish Financial Supervisory Authority (FFSA) has ordered Aim-listed Afarak Group COO Dr Danko Koncar to pay €120-million to the State of Finland.
This follows after Koncar failed to comply with obligations imposed on him in the FFSA decision to publish a mandatory bid referred to in the Securities Markets Act (SMA) for shares issued by Afarak Group and securities issued by Afarak carrying entitlement to its shares, as provided in the SMA, within a month of being served the FFSA decision.