Publication of a Company Description
Fly Play hf.: Publication of Fly Play hf. 's Company Description
Fly Play hf., reg. no. 660319-0180, Reykjavíkurvegur 76, 220 Hafnarfjörður, Iceland (“Play” or the “Issuer”) has published a Company Description in relation to the proposed admission to trading of all of the issued shares of the Company (the "Shares") on Nasdaq First North Growth Market Iceland (“First North Iceland”). The Company Description has been reviewed by Nasdaq Iceland hf. and has been drawn up under the responsibility of the Issuer.
For further information on Play and Play's Shares, a reference is made to Play‘s Company Description, dated 21 June 2021, published on the Company's website, https://flyplay.com/share-offerings-of-fly-play-hf
First North Iceland
First North Iceland is a multilateral trading facility operated by Nasdaq Iceland hf. It does not have the same legal status as a regulated market. Companies on First North Iceland are regulated by First North Iceland’s rules and laws on securities transaction no. 108/2007, but not by the same legal requirements set for companies admitted to trading on a regulated market. An investment in a company traded on First North Iceland generally involves more risk than an investment in a company on a regulated market. Nasdaq Iceland hf. approves applications regarding admission to trading. Nasdaq Iceland hf. is responsible for checking that both companies and Certified Advisers comply with First North Iceland’s rules as well as monitoring the trading on First North Iceland.
Arctica Finance‘s Corporate Finance department has been Play‘s Certified Advisor in the preparation and execution of the listing. Arctica Finance holds an investment firm license under the Act on Financial Undertakings, no. 161/2002 and is regulated by the Icelandic Financial Supervisory Authority. Arctica Finance is approved by Nasdaq Iceland as a First North Certified Adviser. The Issuer has chosen to be fully exchange-monitored after the shares have been admitted to trading. The Certified Adviser does therefore not have an obligation to make sure that the conditions of the First North Rulebook are fulfilled initially or complied with continuously, c.f. clause 1.2 of Supplement A – Iceland of the First North Rulebook.