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From 1 January 2008, companies with listed securities are themselves responsible for arranging the publication of all notifiable information. As a consequence of this, Oslo Børs, working in collaboration with the Swedish company Cision, has developed a new distribution service designed for companies with securities listed on Oslo Børs and Oslo Axess.
The new service is a flexible, cost-efficient solution for publishing and distributing both notifiable and non-notifiable announcements (for example press releases) that is designed to meet the new requirements. Cision is currently the market leader in Sweden in this product area.
From the start of 1 January, it will no longer be compulsory for companies to publish notifiable information via Oslo Børs, and the companies are instead themselves responsible for publishing this information. At the same time, a new requirement will be introduced for companies to send notifiable information to an officially appointed filing mechanism (OAM). Both the duty for companies to take responsibility for arranging publication and the duty to file information with the OAM are the result of the EU Transparency Directive (2004/109/EC). The Norwegian authorities have decided that Oslo Børs will be responsible for the officially appointed mechanism for companies that have Norway as their home state.
Our services are designed to meet the new requirements for publication and distribution, and make it possible for companies to publish both notifiable information (information that must be published by law) and other non-notifiable information (for example press releases) through a single interface.
Companies that choose to use the service offered by Oslo Børs and Cision will be able to choose between three levels of distribution service to meet their particular requirements, and all three alternatives meet the new legal requirements.
Oslo Børs will hold an information meeting about the new service for companies with listed securities on Thursday 6 December at Ingeniørenes Hus in Oslo. The meeting will be open to the press.
More information on the new rules for publishing and filing notifiable information can be found in Oslo Børs Circular No. 10/2007: http://www.oslobors.no/ob/sirkulaere2?template=cont&contentid=1194239257152
About Cision:
Cision is a leading player for integrated services and Web-based portal solutions for media and reputation monitoring and managing media contacts.
Cision AB is a listed company with approximately 2,700 employees. The company reported turnover of ca. SEK 1.9 billion for 2006. Cision operates in the USA, the United Kingdom, Sweden, Canada, Germany, Norway, Finland, Denmark, Portugal, Holland, Hong Kong and Lithuania. For further information, see www.cision.com.
