Contrary to the requirements laid down in the Listing and Issuing Rules, Corus had failed to publish any announcement in a Dutch daily national newspaper to the effect that it would be holding an annual general meeting of shareholders in London on 22 September 2000. Consequently, Corus’s shareholders in the Netherlands were unable to exercise their rights. Corus published an advertisement in the Dutch Daily Official List on 26 September 2000 informing shareholders that the meeting had been held and apologising for the procedural error.
The committee endorsed Euronext’s evaluation of the facts and circumstances that gave rise to the request submitted to it by Euronext on 6 November 2000, and took the view that in this case Corus had committed an evident violation of article 28, paragraph a, in conjunction with article 46, paragraphs 1a and 3, of the Listing and Issuing Rules.
Given the circumstances of this case, the committee saw no grounds for recommending that Euronext should impose any of the measures referred to in article 65 of the Listing and Issuing Rules on Corus.
Euronext’s decision
Euronext decided to endorse the recommendation of the Listing and Issuing Rules Advisory Committee, and notified Corus on 25 January 2001 that it had violated article 28, paragraph a, in conjunction with article 46, paragraphs 1a and 3, of the Listing and Issuing Rules. Euronext endorsed the committee’s view that given the circumstances of this case there were no grounds for imposing any of the measures referred to in article 65 of the Listing and Issuing Rules on Corus.
The full decision of the Listing and Issuing Rules Advisory Committee will be published on Euronext’s website (www.euronext.nl) today, 31 January 2001.
