Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Carlsberg Receives Reprimand From The Copenhagen Stock Exchange

Date 15/02/2002

On 12 February 2002 a number of market participants approached the Copenhagen Stock Exchange with information that Carlsberg had been in contact with individual share analysts regarding the company's outlook for 2002.

Listed companies must publish all price-relevant information via the Copenhagen Stock Exchange, and the listed companies must ensure that all market participants are treated equally in respect of the information that the company provides. In immediate continuation of the company's contact with the analysts, the Copenhagen Stock Exchange has made a close examination of the course of events, and in this connection the Copenhagen Stock Exchange has also been in contact with Carlsberg thereon.

Based on the information from the market participants and correspondence with Carlsberg, the Copenhagen Stock Exchange finds that the company has distributed information on the company's outlook for the accounting year 2002. The Copenhagen Stock Exchange has today protested against this to Carlsberg. In the assessment of the Exchange, the company has violated its duty of ensuring that the entire market has equal access to price-relevant information about the company and violated the rule that all price-relevant information must be published to the Copenhagen Stock Exchange not later than simultaneously with the publication of the information to other parties.