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Venus I (PGS/Veritas) admitted to secondary quotation at Oslo Børs
The Board of Oslo Børs resolved to admit Venus I (PGS/Veritas) to secondary quotation on Oslo Børs's main list. This is on the assumption that the planned integration with Petroleum Geo Services and Veritas DGC Inc., is adopted and implemented as intended, that a sufficient spread is achieved and that a board is appointed that is acceptable to Oslo Børs. A further assumption is that the company is admitted to primary listing on the New York Stock Exchange (NYSE) and that a prospectus is prepared that satisfies the requirements of the Stock Exchange Regulations upon the company´s market debut. If the spread requirements set for the main list are not met, the company will be admitted to the SMB list. The Stock Exchange Regulations require a price quotation agreement to be entered into. The Stock Exchange President is authorised to determine the first day of quotation.
New members: Nordea Securities AB and Fischer Partners Fondkommisjon AB
Nordea Securities AB and Fischer Partners Fondkommisjon AB have been admitted to membership of Oslo Børs. Nordea Securities is applying to continue its present membership as a new legal entity. Nordea Securities will be entitled to participate in trading and price quotation for equity capital instruments and derivatives, while Fischer Partners Fondkommisjon will be entitled to participate in trading and price quotation for equity capital instruments. The Oslo Børs administration is authorised to determine the date and practical arrangements for membership to take effect, including entry into the necessary agreements.
Penalty to Goodtech ASA for breach of the information requirement Goodtech ASA has been ordered to pay a penalty corresponding to the price quotation fee, i.e. NOK 100,000, for breach of the information obligation under the Stock Exchange Regulations and the Stock Exchange Act.
The penalty refers to late filing of the interim report for the third quarter of 2001. The company's board dealt with the interim report on Sunday 28 October 2001. According to the company the accounts for the period were not finalised by this date, and it was necessary continue the board meeting two days later. The interim report was received by Oslo Børs and published at about 13.20hrs on 29 October 2001. In Oslo Børs's view, however, the interim report was finalised at the board meeting on 28 October 2001, and should therefore have been published before trading started the next day.
Immediately the interim report for the third quarter of 2001 was made known to the market, the share price dropped sharply, ending 29 October at NOK 25 øre. This corresponds to a share price fall of about 32.5 per cent between the time immediately prior to suspension of trading and the close of trading the same day. Apart from the interim report, no known circumstances were present that would explain such a price fall. The decision of the Board of Oslo Børs may be appealed to the Stock Exchange Appeals Committee within two weeks.
Fjord Seafood ASA - appeal against penalty
The Board of Oslo Børs upholds its decision of 23 January 2002 to impose on Fjord Seafood ASA a penalty corresponding to five times the price quotation fee for breach of the information requirement and the disclosure obligation pursuant to the Stock Exchange Regulations and the Stock Exchange Act. See also the press release of 24 January 2002 from Oslo Børs on the bourse's website.
After the Board of Oslo Børs´s decision at today's meeting the appeal is being forwarded to the Stock Exchange Appeals Committee for consideration.
