Renewable Energy Corporation ASA to be listed on Oslo Børs
The Board of Oslo Børs resolved to admit shares in Renewable Energy Corporation ASA to listing on the Main List of Oslo Børs.
The Board approved an exemption from the requirement that 25% of the company's shares should be held by persons who are not associated with the company in the manner indicated in Section 2-3 of the Stock Exchange Regulations, and that the shareholders counted for this purpose should each own shares equivalent to a least one round lot, cf. Section 2-1 of the Stock Exchange Regulations. The exemption was granted since the shares are nonetheless considered suitable for listing because the company has issued a large number of shares of the same class and the shares are expected to be widely held by the public.
The Board stipulated that, prior to the first day of listing, the composition of the company's board of directors must satisfy the requirements of Oslo Børs for the independence of the board from the main shareholders of the company, its management and its main business connections. The company must also publish a prospectus approved by Oslo Børs pursuant to Chapter 16 of the Stock Exchange Regulations. The Board stipulated that, prior to the first day of listing, the company must ensure that around 20% of its shares are widely held, the shares held by the public must have a significant value, and there must be at least 3,000 shareholders holding at least one round lot who are not associated with the company in the manner indicated in Section 2-3 of the Stock Exchange Regulations.
The Board authorised the President of Oslo Børs to fix the date of the first day of listing, which is to be no later than 9 June 2006, and to determine whether the company has achieved the required distribution of its shares.
Fondsfinans ASA – appeal against the decision of the Board of Oslo Børs on 29 March 2006
The Board of Oslo Børs reaffirmed its decision of 29 March 2006 to impose a violation charge of NOK 100,000 on Fondsfinans for a breach of Section 13-3, second paragraph, of the Stock Exchange Regulations and of Norex Member Rules (NMR) 4.6.1 and 4.6.2.
The Board referred the appeal to the Stock Exchange Appeals Committee.
Oslo Børs, 27 April 2006
