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Oslo Børs has decided to give the surplus from the violation charges paid by companies on Merkur Market to the Church City Mission.
Companies that have been admitted to listing or trading on an Oslo Børs marketplace have to comply with various continuing obligations, and significant breaches of the duty of disclosure can result in violation charges being imposed on companies. Oslo Børs is reimbursed for its costs from the violation charges but is not entitled to the surplus. For cases that relate to companies listed on Oslo Børs and Oslo Axess, the surplus belongs to the Norwegian Treasury, while the surplus from violation charges imposed on companies admitted to Merkur Market is donated to charitable causes.
In connection with the violation charges imposed on companies listed on Merkur Market in 2019, Oslo Børs has decided to give the surplus to the Church City Mission.
“Oslo Børs has collaborated with the Church City Mission for many years. It does a lot of important work on a range of different initiatives across the whole of Norway, including in our immediate surroundings. The Church City Mission was therefore a natural choice”, comments Håvard S. Abrahamsen, the President and CEO of Oslo Børs.
The violation charges for 2019 totalled NOK 300,000, with Oslo Børs’ costs calculated to be NOK 93,984. The surplus that will be donated to the Church City Mission will therefore total NOK 206,016.
Ingunn Kolltveit from the Church City Mission receives the donation from Håvard S. Abrahamsen, President and CEO of Oslo Børs.
