Watchdog Fines OTT-ONE, Threatens Delisting

MNB

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The National Bank of Hungary (MNB) on Wednesday said it fined listed IT company OTT-ONE HUF 2 million for repeated failures to comply with reporting obligations, according to a report by state news wire MTI.

The central bank and financial market regulator said that OTT-ONE has not published its audited annual earnings statements for 2019, 2020, and 2021, and it did not post its first-half earnings for 2022.

It noted that auditors earlier withdrew their reports on OTT-ONE's earnings statements for 2019-2021.

MNB gave OTT-ONE 45 days to "establish the conditions for" publishing the earnings statements and warned that delisting the company's shares is within its legal scope of power.

Trade in OTT-ONE shares has been suspended for more than a year and a half.

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