The Financial Supervisory Authority of Norway (Finanstilsynet) has issued a decision imposing an administrative violation penalty of NOK 31,500 on Coburn Resources Pty for failing to publish its half-yearly financial report within the statutory deadline. The breach relates to the half-year ended 31 December 2024; for issuers applying a deviating financial year (1 July–30 June), publication is required within two months after the period end, meaning a deadline of 29 February 2025 under the Norwegian Securities Trading Act. Finanstilsynet noted it sent an advance notification on 27 June 2025 and received no response, concluded the report remained unpublished, and found the conditions for a penalty were met, including negligence by persons acting on the company’s behalf. In setting the amount, it referred to its case-by-case practice for bond issuers that links penalties to listing fees (NOK 87 per MNOK of outstanding debt per ISIN in 2025) and treated as aggravating that Coburn had previously been penalised for delayed half-yearly reports for the periods ended 31 December 2022 and 31 December 2023. The decision can be appealed within three weeks of receipt to Finanstilsynet, with the Financial Supervision Appeals Board as the appeal body. Collection is handled by the Norwegian National Collection Agency, which will issue a payment request after the appeal deadline expires, or after any appeal is final if the penalty is upheld.
Norwegian Finanstilsynet 2025-09-15
Financial Supervisory Authority of Norway imposes NOK 31,500 violation penalty on Coburn Resources for late half-yearly financial reporting
The Financial Supervisory Authority of Norway (Finanstilsynet) imposed a NOK 31,500 penalty on Coburn Resources Pty for failing to publish its half-yearly financial report by the statutory deadline. The breach pertains to the period ending 31 December 2024, with the penalty reflecting previous delays and linked to listing fees. Coburn Resources has the option to appeal the decision within three weeks.