SWX Swiss Exchange: Revised Rules On Ad Hoc Publicity

From 1 July 2005, ad hoc publicity on the SWX Swiss Exchange will be governed by revised provisions (Art. 72 Listing Rules [LR]). The Admission Board of the SWX adopted the new rules on 30 September 2004. The purpose of the revision is to take account of the practice of the SWX and adjust some of the phraseology. Details are governed by the Ad hoc Publicity Directive (AhPD). Other details will be set out in a Commentary.

Revised Art. 72 LR and the directive will become effective on 1 July 2005.

The key points of the new provisions are the following:

• Adjustments to some of the phraseology: some of the phraseology of Art. 72 LR has been revised and adapted to current practice.
• Ad hoc Publicity Directive: Details of Art. 72 LR will be governed by the Ad hoc Publicity Directive. AhPD will replace Admission Board Circular No. 2 of 2 November 1998.
• Modalities of notice distribution:
• Push system: all interested parties will receive, via e-mail distribution by the issuer, free and timely notices regarding potentially price-sensitive facts.
• Pull system: each notice must be published on the issuer's website at the same time it is distributed. The report must remain online for two years.

For further information, please see:
http://www.swx.com/admission/being_public/publicity_en.html