Nasdaq Tallinn sets final trading date for gift-card retailer Punktid’s parent

Nasdaq Tallinn decided on September 7 to end trading in Punktid Technologies AS shares on its First North market, setting October 7 as the final trading day. The Estonian holding company sits above businesses involved in retail and wholesale distribution of video games and gaming gift cards. [S01] [S04]

Punktid said it did not oppose the decision and that its subsidiaries would continue operating as usual, with no resulting changes for customers or partners. The announcement concerns trading in the parent's shares; it does not announce a closure of the gift-card businesses or suspension of redemption. [S02]

Exchange decision follows an earlier exit plan

Nasdaq's notice cites the First North fee obligation and rules permitting trading termination when an issuer has failed to pay a required fee or due contractual fine despite repeated reminders. It does not disclose an amount or identify a particular unpaid item. [S01]

The company separately argues that the listing had delivered inadequate access to capital relative to its costs. Those are management's reasons for wanting to leave, rather than independent findings about the effectiveness of the market. [S02]

The cost argument has a historical accounting basis, although it does not establish the amount of the unpaid exchange obligation. In its 2022 annual report, the group recorded EUR 78,000 of professional services, including legal advice, consultancy and accounting, alongside EUR 191,000 of marketing costs and EUR 265,000 of labour costs. Management linked the increase in professional-service spending to one-time listing activities. These are selected expense categories from the listing year, not exclusively exchange fees, current 2026 costs or savings that delisting will produce. [S05]