According to Stockholmsbörsen's procedures, an examination of the company's development should have been conducted during the first year of its listing on the Exchange. Stockholmsbörsen decided to place Metro shares in the O List's "under observation" section against the following background:
- The examiner appointed by Stockholmsbörsen was not provided with sufficient information to be able to perform his inquiry in a satisfactory manner.
- The composition of the company's Board of Directors did not satisfy Stockholmsbörsen's requirement regarding the need for independent Board members.
"Under observation" section
In order to serve as a warning signal to the stock market, a listed company's shares or other securities may temporarily be placed in a special section of the Exchange's various lists, thus indicating that the company is under observation. Such an action is considered when a company's position as an exchange-listed company can be questioned because
- The company has undergone or plans to implement a fundamental change of its business operations or organization
- The company has committed a serious breach of the regulations stipulated in the listing agreement
- Trading in the company's shares is extremely sporadic as a result of inadequate diversification of share ownership
- There is significant uncertainty regarding the company's financial position.
