Atlantic Petroleum disciplined for late report

Atlantic Petroleum has been warned by the disciplinary committee of the Nasdaq exchange in Copenhagen.
Photo: Atlantic petroleum / PR
Photo: Atlantic petroleum / PR

Faroese oil company Atlantic Petroleum, listed in both Copenhagen and Oslo, published its reports for 2017 and Q1 2018 too late.

In both instances, reports were internally approved by auditors, board and management before the deadline – three and two months after the report period respectively  – but first published a few days after the deadline.

Atlantic Petroleum explained this to Nasdaq, referring to "the logistics in internal procedures" and the "relevant geographic location of people."

Nasdaq's disciplinary committee found the explanation insufficient, however, the company was let off with a warning.

English Edit: Lena Rutkowski

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