The Financial Supervisory Authority of Norway has imposed an administrative fine of NOK 280,000 on Otello Corporation ASA for failing to publish its 2025 annual report by the statutory deadline. The authority concluded that the company breached its periodic financial reporting obligation negligently, as the report was published on 12 May 2026 rather than by 30 April 2026. Otello had announced on 30 April that onboarding a new service provider and extensive discussions with its auditor had delayed finalisation of the annual financial statements, while saying any adjustments were not expected to be material compared with previously reported fourth quarter figures. The authority found no excusing circumstances and said listed companies are expected to have sufficient internal controls, competence and resources to meet time-critical disclosure duties. It regarded the delay as clear and serious enough to justify a sanction. The amount was set using the authority's usual approach, which takes the issuer's market value as of 1 January 2026 as a starting point, with Otello's 2026 listing fee of NOK 281,500 used as the reference point. Otello may appeal within three weeks of receiving the decision. If the decision is not appealed, the fine will be collected after the appeal period expires. If it is appealed and upheld in whole or in part, collection will follow the appeal decision, with payment due three weeks after invoice.

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