Sanction Proposal against Blackstone Resources AG

SIX Exchange Regulation AG (SER) has submitted a request for a sanction to the Sanctions Commission of SIX Group against Blackstone Resources AG concerning alleged violations of the regulations on financial reporting on 1 February 2022.

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After completion of its investigation, SER has concluded that the 2018 annual IFRS financial statements, the 2019 interim IFRS financial statements and the 2019 annual IFRS financial statements of Blackstone Resources AG contain multiple material misstatements. For this reason SER has send a request for a sanction to the Sanctions Commission against Blackstone Resources AG on 1 February 2022.

The alleged deficiencies refer to the accounting for the acquisition of the subsidiary South America Invest Ltd. and the resulting goodwill as well as the disclosures in connection with this acquisition in the 2019 interim IFRS financial statements and in the 2019 annual IFRS financial statements. Further alleged deficiencies refer to the consolidation of the subsidiary Troi Gobi LLC and the accounting for the sale of this subsidiary in the 2018 annual IFRS financial statements, in the 2019 interim IFRS financial statements and in the 2019 annual IFRS financial statements.

No information will be provided while the sanction proceedings are ongoing. SER will inform the public about the outcome of the sanction proceedings.

If you have any questions, please contact
Hrvoje Tkalcec, Head Communications & Media Relations.
Phone: +41 58 399 2267
Email: ser_media@six-group.com

SIX Exchange Regulation AG is a legally independent company of SIX Group and of one the Regulatory bodies of the SIX trading venues. It performs the functions assigned under Swiss federal law and enforces the rules laid down by the Regulatory Board, and monitors compliance with legal and regulatory requirements. As part of its diverse remit, SIX Exchange Regulation AG submits proposals for sanctions to the Sanctions Commission or can enact sanction notices. SIX Exchange Regulation AG consists of the divisions Listing & Enforcement, responsible for regulating issuers, and Surveillance & Enforcement, which monitors trading.
www.ser-ag.com

SIX provides and operates stable and efficient infrastructure for the Swiss and Spanish financial centers, thus ensuring access to the capital markets and the flow of information and money between financial market players. As a global provider of financial information, SIX delivers high-quality reference, pricing, corporate actions, and ESG data and provides regulatory services and indices to clients around the world. The company is owned by its users (more than 120 banks) with a workforce of 4,160 employees and a presence in 19 countries.
www.six-group.com

Media Release

Sanction Proposal against Blackstone Resources AG

SIX Exchange Regulation AG (SER) has submitted a request for a sanction to the Sanctions Commission of SIX Group against Blackstone Resources AG concerning alleged violations of the regulations on financial reporting on 1 February 2022.