Violation charge for Kværner ASA
The Board of Oslo Børs ASA resolved to impose a violation charge on Kværner ASA in respect of matters arising from the company's liquidity situation in September 2001. The charge imposed of NOK 560,000 is equivalent to two times Kværner's annual listing fee, and relates to a breach of the of the duty set out in the Stock Exchange Regulations for the disclosure of information to the market. The Board takes the view that Kværner was late in providing the market with information on the serious liquidity situation that the company encountered in September 2001.
Further details can be found in a separate press release dated 20 March 2002.
This decision may be appealed to the Oslo Børs Appeals Committee. Any appeal must be submitted within two weeks.
Q-Free ASA to be included on the SMB List
The Board resolved to admit shares in Q-Free ASA to listing on the SMB List. The Board had agreed at its previous meeting on 27 February 2002 to admit shares in Q-Free ASA to listing on the Main List, but this approval was subject to Q-Free ASA satisfying the requirements for distribution of ownership of the company's shares. It has since become apparent that the company has not achieved the necessary distribution of its shares, and the Board therefore decided to amend its earlier decision.
E*TRADE Bank Danmark A/S admitted as a new member of the exchange
The Board also agreed at today's meeting to admit E*TRADE Bank Danmark A/S as a new member of the exchange with the right to participate in trading and price quotation for equity instruments. The Board has authorised the management of Oslo Børs ASA to make the necessary practical arrangements, including entering into the agreements required, and to fix the starting date for membership.
