Scribona AB to be admitted to the Main List
The Stock Exchange Board resolved to admit shares in Scribona AB (publ) to secondary listing on the Main List of the Oslo Stock Exchange. The decision is conditional on the company achieving a sufficiently wide distribution for its shares. The company is required to enter into a listing agreement in accordance with section 23-7, second and third paragraphs, of the Stock Exchange Regulations. The President of the Oslo Stock Exchange was authorised to determine the first day of listing, but with the proviso that this must be no later than 22 May 2001.
Pan Pelagic ASA to be admitted to the SMB List
The Stock Exchange Board resolved to admit shares in Pan Pelagic ASA to listing on the SMB List of the Oslo Stock Exchange. The company was granted an exemption from the requirement set out in section 2 - 1, third paragraph, of the Stock Exchange Regulations that a company must have carried out the major part of its activities for at least three years. The decision is conditional on the company producing a prospectus which satisfies the requirements of the Stock Exchange Regulations in respect of listing. The President of the Oslo Stock Exchange was authorised to determine the first day of listing, but with the proviso that this must be no later than 22 May 2001.
Three companies to be removed from listing
The Stock Exchange Board resolved to approve applications from Nortrans Offshore Limited and RC-Gruppen ASA for their shares to be deleted from listing on the Oslo Stock Exchange. The last day of listing for Nortrans Offshore Limited is to be 26 April 2001, whilst the President of the Oslo Stock Exchange is authorised to determine the last day of listing for RC-Gruppen ASA.
The Stock Exchange Board also resolved to remove shares in the merged company Industriinvestor ASA/Telecast Group from the SMB List. The President of the Oslo Stock Exchange is authorised to determine the last day of listing. This decision may be appealed to the Stock Exchange Appeals Committee. Any appeal must be submitted within two weeks
Violation charges imposed on Ocean Rig ASA, Synnøve Finden ASA and MediaBin Inc. for breaches of the duty of disclosure
The Stock Exchange Board resolved to impose a violation charge on Ocean Rig ASA equivalent to twice the company´s annual listing fee for a breach of section 5-2, first paragraph, of the Stock Exchange Regulations. On Saturday 10 March 2001 the company signed an agreement with the Friede Goldman yard which settled a dispute that had arisen in connection with the completion and delivery of two rigs. The company had a duty to disclose this agreement, and information should have been sent to the Oslo Stock Exchange in sufficient time for it to be distributed through the Oslo Stock Exchange’s information system before the start of trading at 10.00 hours on Monday 12 March 2001. However the information was not provided to the Oslo Stock Exchange until 12.04. This decision may be appealed to the Stock Exchange Appeals Committee. Any appeal must be submitted within two weeks.
The Stock Exchange Board resolved to impose a violation charge on Synnøve Finden ASA equivalent to the company´s annual listing fee for a breach of section 6-2, second paragraph, of the Stock Exchange Regulations. The company applied on 26 February 2001 for exemption from the requirement to approve and publish its preliminary annual accounts within two months of the end of the financial year. The application was rejected by the Oslo Stock Exchange on 27 February 2001, and an appeal against the rejection was submitted on 28 February 2001. The decision by the Oslo Stock Exchange to refuse the application was upheld by the Stock Exchange Appeals Committee. The company´s board did not approve the interim report for the fourth quarter of 2000 until 5 March 2001, and the report was received and distributed by the Oslo Stock Exchange at 10.01 on 5 March 2001. This decision may be appealed to the Stock Exchange Appeals Committee. Any appeal must be submitted within two weeks.
The Stock Exchange Board resolved to impose a violation charge on MediaBin Inc. equivalent to the company´s annual listing fee for a breach of section 6-2, second paragraph, of the Stock Exchange Regulations which requires that interim reports must be published within two months of the end of the period to which they relate. The company´s board did not approve the interim report for the fourth quarter of 2000 until 2 March 2001 after the end of the Oslo Stock Exchange’s trading hours. The interim report was distributed by the Oslo Stock Exchange at 08.21 on 5 March 2001. This decision may be appealed to the Stock Exchange Appeals Committee. Any appeal must be submitted within two weeks.
General comments on breaches of the duty of disclosure: If a company is in breach of the duty of disclosure, the Stock Exchange Board is empowered to impose a violation charge of up to ten times the annual listing fee. The annual listing fee depends on the market capitalisation of the company, subject to a minimum of NOK 100,000 and a maximum of NOK 600,000.
Namos Trafikkselskap ASA - appeal against violation charge
The Stock Exchange Board resolved to uphold the resolution passed on 13 March 2001 to impose a violation charge on Namos Trafikkselskap ASA equivalent to two times the company´s annual listing fee for a breach of sections 6-1, first paragraph, and 6-5, fourth paragraph, of the Stock Exchange Regulations. This decision has been referred to the Stock Exchange Appeals Committee.
Julius Baer France S.A. admitted as a member of the Oslo Stock Exchange
The Stock Exchange Board agreed to admit Julius Baer France S.A. as a member of the Oslo Stock Exchange pursuant to section 11-1 of the Stock Exchange Regulations, with the right to participate in official quotation and trading for all financial instruments listed on the Oslo Stock Exchange. The management of the Oslo Stock Exchange is authorised to determine the date and practical arrangements for membership to come into effect. It is a condition of Stock Exchange membership that the member shall enter into the Standard Membership Agreement and the Standard Connection Agreement for connection to the Oslo Stock Exchange trading systems for equity instruments, bonds and interest rate derivatives.
Further information on the companies admitted to listing:
Scribona AB
Scribona AB is a major player for IT products and IT systems in the Nordic countries. The company works closely with suppliers, distributors, dealers and, to some extent, end-users in these areas. Scribona AB has activities in Sweden, Norway, Denmark and Finland, with a head office in Solna in Sweden. The company has two classes of shares (A shares and B shares) with different voting rights, and both classes of shares have been listed on the Stockholm exchange since December 1992.
Pan Pelagic ASA
Pan Pelagic ASA owns a number of companies in full or part with a basis in pelagic fish. These interests include both fishing vessels with concessions for pelagic fish and production of pelagic fish products for consumers, as well as fish meal and fish oil production facilities. Pan Pelagic aims to make the best possible commercial use of pelagic fish resources by owning companies throughout the entire value chain from fish to finished product.
