(Finance) – CONSOB has applied to Riccardo Di Pasqualeat the time of the events Chief Executive Officer of Fenix Entertainmentone sanction administrative fine of 40,000 euros for violations of the EU Regulation on market abuse.
Di Pasquale has failed to notify to CONSOB and to Fenix Entertainment itself, a company listed on Euronext Growth Milan and active in the production of cinematographic and television content, for the purposes of subsequent communication to the public, the buying and selling operations of the shares issued by it, arranged during 29 trading days within the period between 1 June 2022 and 16 March 2023.
The Authority underlined that the violations occurred for a prolonged period of time during which the reporting of 31 purchase and sale transactions was omitted, the total value of which was almost 100,000 euros. “Such operations would have constituted a non-irrelevant signaling element for the market, also in consideration of the economic situation in which the issuer found itself”, is highlighted.