Induct AS reports potential market abuse violations to regulator

Induct AS has reported potential violations of the Market Abuse Regulation (MAR), including insider trading or market manipulation, to Finanstilsynet, Norway's financial supervisory authority. The company initiated the report after an internal review identified transactions in Induct shares by individuals and entities with past or present ties to the company. The board emphasized its commitment to transparency and proper handling of the situation, stating it takes the matter very seriously.

Chairman Karl-Anders Gronland affirmed the board's decision to notify Finanstilsynet proactively to protect the company, shareholders, and market confidence, pledging full cooperation with authorities. Induct AS also clarified that there has been no board decision to launch the product "Leita," and it has not been commercially released, as it is not among the products the board has prioritized strategically.

The company stated it would not provide further comments on the specific details at this time but would inform the market of any new, material information.