INFORMATION | PR mall förvärv av bolag [88] NY

INFORMATION | PR mall förvärv av bolag


AUDIO | VIDEO

Här hittar du en enkel PR mall på svenska och engelska med checklista för informationsgivning i samband med förvärv av företag. Samma checklista gäller omvänt vid försäljning av bolag eller verksamheter.


INFORMATION | Efter årsstämman [86] NY

INFORMATION | Efter årsstämman


AUDIO | VIDEO

Här kommer checklistan efter årsståmman när kommunké från stämman är pressreleasas är det ofta dags för konstituerande styrelsesammanträde, vi går igenom agenda och uppdatering av IR-webben.


INFORMATION | Inför Q1 [85]

INFORMATION | Inför Q1


Dags för årets första kvartal, vi går igenom checklistan och lite extra så här i COVID-19 pandemin.


INFORMATION | Guidance in ENGLISH | Play book disclosure | ENG [60]

INFORMATION | Play book disclosure and IR


As requested by customer, here comes the play book for disclosure and IR in the Swedish Capital Market. As always, you are welcomed to reach out to us with questions.

©BOARDA | ROPA management AB

THE PLAY BOOK FOR INVESTOR RELATIONS

Processes News Releases, Press Releases and Crisis management 2

Information activities News Releases and Press Releases 2

Templates for Releases 2

Process and advice Crisis management 3

Procedures for requests from the media 3

Advice for crisis management: CEO & CFO 4

Investor Relations – Guidance Disclosure 4

Disclosure of inside information (based on Nasdaq Issuer Rule January 2019 on First North Premier the Certified Adviser is responsible for the Issuer Surveillance. The Exchange should then be read as the Certified Adviser) 4

Delay in the disclosure of inside information 5

Other disclosure requirements 6

Financial reports/statements 6

Timing of financial release and interim report/statement 6

Content of financial report/statement 6

Forecasts and forward-looking statements 6

General meetings of shareholders 7

Issues of financial instruments 7

Company shall disclose any decision to introduce a share-based incentive program 7

Changes in board of directors, management and auditors 7

Closely-related party transactions 7

Substantial changes to the operations of the Company 8

Decisions regarding admission to trading 8

Disclosure considered necessary to provide fair and orderly trading 8

Company calendar 8

Timing and Methodology for disclosure 9

Changes and corrections to previously disclosed information 9

Silent period 9

Website 9

Procedures for website updates 10

Check-list Disclosure Rules 10

Orders or investment decisions; cooperation agreements 10

Business acquisitions and divestitures 11

Financial difficulties 12

Decisions taken by authorities 12

Information regarding subsidiaries and affiliated companies 12

Auditor’s reports 13

Deviation in financial result or financial position 13

Substantial changes to the operations of the Company 13

Information to the Exchange 13

Public tender offers 13

Information for surveillance purposes 14

Advance information 14

Check-list Financial Reports – Process 14

Financial Reports – Content 15

Check-list website – Investor Relations and Corporate Governance 15

Check-list Annual General Meeting 16

Information published on the website prior to notice 16

AGM Notice and more 16

Check-list contacts with analysts, investors and the media 17

Processes News Releases, Press Releases and Crisis management

Information activities News Releases and Press Releases

Templates for Releases

News Release: Marketing PR – Marketing PR should include the heading News Release.

 

Press Release/Regulatory News:

Company should not combine the disclosure of inside information – Press Release – to the public with the marketing of its activities. Press Releases to comply with the Information Policy should include the heading Press Release, and the information:

  • Time and date for disclosure (see paragraph below)
  • The Company’s registered name
  • The Company’s webpage
  • Contact person including title and contact information
  • A heading indicating the substance of the announcement, and
  • The most important information in a press release should be clearly presented at the beginning of the announcement. The press release should also include the following paragraph (MAR DISCLAIMER):

This information is information that Company AB (publ), reg.no. xxxxxx-xxxx ticker symbol XXXX  is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at [•] CET on [•] 201x. Our press releases can be accessed at www.Company.com

For more detailed information about timing and methodology, go to section Investor Relations on page 2.

 

TEMPLATES FOR STANDARD PRESS RELEASES LIKE NEW ORDER, AWARD PUBLIC TENDER,  CHANGES IN MANAGEMENT, FINANCIAL REPORT, “PROFIT WARNING”, AGM AND MORE ARE AVAILABLE ON BOARDA.SE IN THE SECTION ABOUT INFORMATION.

 

Procedures for information activities

The BA-leaders/Marketing are responsible for producing News Releases, marketing PR.

The CFO/IR function coordinates all information activities and is responsible for:

  • Managing and internally distributing requests.
  • Producing Press Releases – Information Policy
  • Distributing written information, which has undergone internal quality assurance and been approved, to the media.
  • Ensuring distribution lists are up-to-date.
  • Publishing Press Releases on the website at the same time as they are distributed.
  • Monitoring the press and reporting this internally.

The CFO/IR function is responsible for coordinating with the CEO, BA-leaders, marketing to ensure that the timing of distribution does not clash with regulatory releases.

 

Process and advice Crisis management

Procedures for requests from the media

Employees should not make statements externally. However, if anyone from the media calls, try to ascertain the following:

  • The journalist’s name
  • Which medium he or she represents
  • What he or she wishes to discuss
  • Examples of questions
  • Who else the journalist has spoken to
  • Say that you or someone else will get back to them
  • Make a note of the telephone number and email address
  • Deadline, by which he or she needs an answer then contact, in the first instance, the CEO or CFO.

 

Advice for crisis management: CEO & CFO

  • Be available.
  • Do not avoid criticism by not answering questions from the media or customers. This makes matters worse, as it leaves the field open for former employees, interest groups, trade unions or others to give their possible negative image of the organization, the product or what the outside world has reacted to.
  • Take criticism seriously.
  • Criticism must be taken seriously, even if the criticism is perceived internally as being minor and insignificant. Ask test questions, such as “Is there anything in the criticism?” “Should we change our working methods, our procedures or our products?”.
  • Be sympathetic.
  • If a customer, employee or anyone else has felt bad treated and has turned to the media to share their discontent, seek dialogue instead of confrontation.

Investor Relations – Guidance Disclosure

Disclosure of inside information (based on Nasdaq Issuer Rule January 2019 on First North Premier the Certified Adviser is responsible for the Issuer Surveillance. The Exchange should then be read as the Certified Adviser)

Company should ensure that all market participants have simultaneous access to any inside information about the Company. Company should therefore ensure that inside information is treated confidentially and that no unauthorised party is given such information prior disclosure. Unless the inside information is simultaneously made public to the market, it should not be disclosed to analysts, journalists, or any other parties (either individually or in groups).

 

As a general rule Company should disclose information which, if it were made public, would be likely to have a significant effect on the prices of the Company ́s financial instruments. It is not required that actual changes in the price of the financial instruments occur. The effect on the price of the financial instruments may vary and should be determined on a Company by Company basis, taking into account, among other things, the price trend of the financial instruments, the relevant industry in question, and the actual market circumstances. Accordingly, an obligation to provide information may, for example, exist in the following situations:

  • orders or investment decisions
  • co-operation agreements or other agreements of major importance;
  • business acquisitions and divestitures;
  • price or exchange rate changes;
  • credit or customer losses;
  • new joint ventures;
  • research results, development of a new product or important invention;
  • commencement or settlement of, or decisions rendered in, legal disputes; • financial difficulties;
  • decisions taken by authorities;
  • shareholder agreements known to the Company which may affect the use of voting rights or transferability of the financial instruments;
  • market rumours and information leaks;
  • market making agreements;
  • information regarding subsidiaries and affiliated companies;
  • auditors report;
  • deviation in financial result or financial position; and
  • substantial changes to the operations of the Company.

Some of the examples are described in more detail in checklist disclosure rules page 10.

Delay in the disclosure of inside information

The starting point is that Company should inform the public as soon as possible of inside information which directly concerns the Company. Company may, however, on its own responsibility, delay public disclosure of inside information, provided that all of the following conditions are satisfied.

  • Immediate public disclosure is likely to prejudice Company’s legitimate interests;
  • Delay of disclosure is not likely to mislead the public; and
  • Company can ensure the confidentiality of that information

 

Example of situations when the Company may have legitimate interest to postpone public disclosure:

  • Ongoing negotiations where the outcome of the negotiations or the normal pattern of those negotiations would be likely to be affected by immediate public disclosure
  • The financial viability of the Company is in grave an imminent danger and immediate public disclosure would seriously jeopardise the interest of existing and potential shareholders by undermining the conclusion of specific negotiations designed to ensure the financial recovery of the Company.
  • The Company plans to buy or sell a major holding in another Company and public disclosure would jeopardise the conclusion of such transaction.

 

Example of situations when postponed public disclosure is likely to mislead the public:

  • The inside information whose disclosure the Company intends to delay is materially different from a previous public announcement of the Company on the matter to which the inside information refers.
  • The inside information whose disclosure the Company intends to delay regards the fact that the Company’s financial objectives’ are likely not to be met, where such objectives were previously publicly announced.
  • The inside information whose disclosure the Company intends to delay is in contrast with the market’s expectations, where such expectations are based on signals that the Company has previously set.

 

The determination of what constitutes inside information must be based on the facts and circumstances in each case and, where doubts persist, the Company may contact the Exchange for advice. The Exchange’s employees are subject to a duty of confidentiality. However, the Company is always ultimately responsible for fulfilling its duty of disclosure under MAR and this Rule book.  

 

Other disclosure requirements

Financial reports/statements

Company shall prepare and disclose all financial reports/statements pursuant to

accounting legislation and regulations applicable to the Company. Company shall disclose one annual financial statement release and interim reports/statements quarterly.

Since the annual financial report must be prepared according to IFRS adopted by EU for

groups of undertakings, the financial statement release must also be prepared on the basis of the accounting principles for the annual financial report. Normally the financial statement

release should be so comprehensive that the annual report does not provide the market with any new significant information that may be price sensitive.

Timing of financial release and interim report/statement

The annual financial statement release and the interim reports/statements shall be

disclosed within two months from the expiry of the reporting/statement period. Interim

reports/statements shall state whether or not the Company’s auditors have conducted a

review. See checklist disclosure rules page 10.

Content of financial report/statement

Go go Checklist disclosure rules 10.

Forecasts and forward-looking statements

Company should not provide any forecasts and/o forward-looking statements.

General meetings of shareholders

Notices to attend general meetings of shareholders shall be disclosed. The disclosure shall include information about date, time, place, how to participate and material proposals for resolutions.

Company shall disclose information about resolutions adopted by the general meeting

of shareholders unless a resolution is insignificant. See checklist disclosure rules 10.

Issues of financial instruments

The Company shall disclose all proposals and decisions to make changes in the share capital or the number of shares or other financial instruments related to shares of the Company, unless the proposal or decision is insignificant. Information shall be disclosed regarding terms and conditions for the issue. The Company shall also disclose the outcome of the issue. The announcement regarding an issue of financial instruments shall include all significant information concerning the issue of new financial instruments. Information in the

announcement should, at a minimum, include the reasons for the issue, expected total amount to be raised, subscription price and, where relevant, to whom the issue is directed.

Disclosure concerning issues of financial instruments shall include terms and conditions of

the issue, any agreements or commitments to subscribe, and time schedule information. When the Company discloses the outcome of the issue, the announcement should include information such as whether or not the issue has been fully subscribed or if, for example, secondary subscription rights have been exercised. Normally, it is also relevant to repeat the subscription price, especially in cases where a fixed price has not been used (e.g. book-building process).

Company shall disclose any decision to introduce a share-based incentive program

The disclosure shall contain information about the most important terms and conditions

of the programme.

The information, which is normally included in the notice of the general meeting, is required

to provide investors with information about the factors motivating management and other

employees and also the dilution effects of the incentive programmes, in order to help investors understand the potential total liabilities under such programmes. See checklist disclosure rules 10.

Changes in board of directors, management and auditors

Proposals and actual changes with respect to the board of directors and senior

management of the Company shall be disclosed. The disclosure regarding a new board member or a new senior manager shall include

relevant information about the experience and former positions held by the board

member or senior manager. A change of the auditor shall also be disclosed.

Closely-related party transactions

A transaction between the Company and closely-related parties which is not entered into in

the normal course of business shall be disclosed when the decision regarding such a

transaction is taken, unless the transaction is insignificant to the parties involved.

‘Closely-related parties’ include managing directors, members of the board of directors,

and other managers in the Company or significant subsidiaries who control or exercise

significant influence in making financial and operational decisions in the Company or in the

relevant significant subsidiary. Legal entities controlled by these persons and

shareholders controlling more than ten percent of the financial instruments or voting

rights of the Company are also considered as closely-related parties. In order to ensure credibility and confidence, any transaction with a closely-related party

should be disclosed unless it is insignificant to the parties involved.

Substantial changes to the operations of the Company

If a Company undergoes significant changes and, following those changes, may be

regarded as an entirely new Company, additional information regarding the Company shall

be provided. The information must be equivalent to what is required pursuant to the

rules applicable to prospectuses. This rule applies whether or not the Company is obligated

to prepare such a prospectus pursuant to legislation or any other regulation. Information must be disclosed within a reasonable time, which means as soon as it has been compiled. When a change in identity occurs, it is of the utmost importance that the securities market

receives enhanced information.

Decisions regarding admission to trading

Company shall disclose information when it applies to have its financial instruments

admitted to trading at the Exchange for the first time, as well as if it applies for a

secondary listing to trading at another trading venue. The Company shall also disclose any

decision to apply to remove its financial instruments from trading at the Exchange or

another trading venue. The Company shall also disclose the outcome of any such

application. The duty to comply with the disclosure rules enters into force when Company applies to have its financial instruments admitted to trading on an exchange.

Disclosure considered necessary to provide fair and orderly trading

If the Exchange considers that special circumstances exists that results in substantial

uncertainty regarding the Company or the pricing of the traded financial instruments and

that additional information is required in order for the Exchange to be able to provide

fair and orderly trading in the Company’s financial instruments the Exchange can require

the Company to disclose necessary information. This requirement applies whether or not certain information is considered inside information.

Company calendar

Company shall publish a Company calendar listing the dates on which the Company

expects to disclose financial statement releases, interim reports, and the date of the

annual general meeting. In respect of the annual financial report, Company shall

publish the week of disclosure. The Company calendar shall be published prior to the start of each financial year. If a disclosure cannot be made on a pre-announced date, the Company must publish a new date on which disclosure will be made; If possible, the new date should be published at least one week prior to the original date. If applicable, the date for payment of dividends should also be included in the publication.The Company should also try, if possible, to specify the time of the day at which disclosure will be made. The publication of the Company calendar is normally done on the Company’s website.

Timing and Methodology for disclosure

Company should inform the public as soon as possible of inside information which directly concerns the Company. Company should ensure that the inside information is made public in a manner which enables fast access and complete, correct and timely assessment of the information by the public. Company should not combine the disclosure of inside information to the public with the marketing of its activities.

The information Company discloses must reflect the Company’s actual situation and may not be misleading or inaccurate in any manner. The information should contain facts which provide sufficient guidance to enable evaluation of such information and its effect on the price of the Company’s financial instruments, shares or bonds. Also information omitted from a press release may cause the announcement to be inaccurate or misleading.

The most important information in a press release should be clearly presented at the beginning of the announcement. Each press release by the Company should have a heading indicating the substance of the announcement.

It is not possible to provide inside information e.g. at general meetings or analyst presentations without disclosure of the information. If Company intends to provide such information during such a meeting or presentation, the Company must simultaneously – at the latest – also disclose the inside information.

Changes and corrections to previously disclosed information

Whenever the Company discloses significant changes to previously disclosed information, the changes should also be disclosed using the same distribution channels as previously. Corrections to errors in information disclosed by the Company itself need to be disclosed as soon as possible after the error has been noticed, unless the error is insignificant. When there are changes to information in a financial report, it is not usually necessary to repeat the complete financial report, but the changes can be disclosed in an announcement with a similar distribution as for the report.

Silent period

The Company must observe a silent period beginning 30 days before the publication of annual and interim reports. During this period, Company spokespersons must refrain from answering questions or commenting on financial performance.

Website

The Company shall have its own website on which information disclosed by the Company on the basis of the disclosure requirements imposed on traded Companies shall be available for at least five years. However, financial reports shall be available for a minimum of ten years from the date of disclosure. The reports must be located under the heading Financial reports and under the heading News and/or media (or similar headings). The website must also contain a section for information on corporate governance including information about the CEO and management, Board of Directors, the work of the Board, committees, auditors, incentive schemes, Articles of Association, etc. The information shall be made available on the website as soon as possible after the information has been disclosed.

Procedures for website updates

Company uses a third party supplier for news distribution and archiving on the Company’s website. The Group CFO is responsible for ensuring website content meets the requirements of Disclosure rules. The Group CFO is also responsible for the website being updated in accordance with the Company web strategy and the requirements of the Disclosure rules. The publication of press releases and interim reports on the website is managed by the Group CFO, or a person appointed by him/her, who is responsible for coordinating uploads with an external distribution Company retained by the Company.

 

Check-list Disclosure Rules

Actions when the Company is required to public disclose information; inside information, financial report, auditors report,  forecasts and forward-looking statement, general meetings of shareholders, share-based incentive programmes, issues of financial instruments, changes to the board, management or auditors, transaction with closely-related party, investments and divestments of companies, major changes to the operations, admission to trading, financial calendar and corporate governance.

Set out below is a more detailed description of some of the examples and guidance on which type of inside information the Exchange would normally expect the disclosure to include as well as guidance on the timing and methodology of disclosures which the Exchange would usually expect the Company to follow.

Orders or investment decisions; cooperation agreements

If the Company discloses a major order, it could be essential to provide information about the value of the order, including the product or other content of the order and time period to which the order relates. Orders relating to new products, new areas of use, new customers or customer types, and new markets may constitute inside information under certain circumstances. In the context of co-operation agreements, it may be difficult to determine the financial effects and, therefore, it is very important to provide the securities market with a clear description of the reasons, purpose, and plans.

Business acquisitions and divestitures

If an I discloses inside information about the acquisition or a sale of a Company or business the disclosure should normally include:

  • purchase price, unless special circumstances exist;
  • method of payment;
  • relevant information about the acquired or sold entity;
  • the reasons for the transaction;
  • estimated effects on the operation of the Company;
  • the time schedule for the transaction; and
  • any key terms or conditions that apply to the transaction.

The Company or business acquired shall be described in a manner that addresses its key line(s) of business, historical financial performance and financial position.

In conjunction with corporate transactions considered inside information special attention should be given to the completeness of information. Based on the information disclosed about a transaction, the market participants should be able to assess the financial effects of the acquisition or sale as well as the effects on the operation of the Company and the effect on the price or value of the Company’s financial instruments. Typically, such assessment requires knowledge of the financial effects of the acquisition or sale as well as the effects on the operation of the Company.

 

The Company should disclose the sale or purchase price of a Company since it normally is a key element in assessing the effects of the transaction. In rare cases there may, however, be a possibility to withhold information regarding the price for an acquired or sold entity. This might be the case where the purchase price is not of importance for the valuation of the Company admitted to trading. Another example could be when a disclosure is made before the price negotiations have been finalized. It is then impossible to inform about the price, but once the price has been agreed upon, relevant information thereon should be disclosed. It is not unusual that the purchase price is related to the future outcome of the acquired business. In such a case the Company should disclose the maximum purchase price (including the maximum additional purchase price) at once, together with the parameters which may affect the amount of the additional purchase price, and disclose the final purchase price in future reporting.

 

Different kinds of transactions can be considered inside information and there can be different ways to evaluate the transactions depending on their strategic importance. Relevant information for the assessment could include the effects on the income statement or balance sheet resulting from the integration of operations or, alternatively, the effects of the sale.

 

In conjunction with the acquisition of business activities, where the acquired business unit is not an independent business unit, it may be particularly important to report information regarding the purchase price, the type of business that has been acquired, the assets and liabilities included in the acquisition, the number of employees transferred, etc.

Financial difficulties

In situations where the Company encounters financial difficulties, such as a liquidity crisis or suspension of payments, there may be difficult questions regarding the obligation to disclose inside information. For example the Company may find itself in a situation where significant decisions are taken by other parties, e.g. lenders or major shareholders. It is, however, still the Company that are responsible for disclosing inside information. This is achieved by the Company staying continuously informed of developments through contacts with representatives from lenders, major shareholders, etc. On the basis of information then received, appropriate disclosure measures may be taken.

Not infrequently, loan agreements contain different types of limits in relation to equity ratio, turnover, credit ratings or suchlike (so called covenants) and if these limits are exceeded, the lender may demand repayment or renegotiation of the loan. Exceeding such limits may constitute inside information.

Decisions taken by authorities

Even though it may be difficult for the Company to control processes where decisions concerning the Company are made by authorities or courts of law, it is still the Company’s responsibility to provide information regarding such decision(s) to the securities market as soon as possible if the consequences of a decision constitute inside information. The information should be sufficiently comprehensive and relevant from the market’s viewpoint to enable an assessment of the effect on the Company and its operations, result or financial position and thus the extent of the information needed may vary.

If it is impossible for the Company to provide an opinion on the consequences of the decisions made by authorities or courts of law, the Company may initially make a disclosure regarding the decision. As soon as the Company has made an assessment of the consequence of the decision, if any, the Company should make a new disclosure regarding these consequences.

Information regarding subsidiaries and affiliated companies

Decisions, facts and circumstances pertaining to the group or to individual subsidiaries, and in some cases affiliated companies as well, may be inside information. Evaluation is naturally affected by the legal and operational structure of the group and by other circumstances.

A situation may occur in which an affiliated Company discloses information independently of the Company with regard to its own operations regardless of whether the affiliated Company itself has a similar duty of disclosure. In such cases the Company is required to evaluate whether that information constitutes inside information with regard to the Company’s financial instruments.

When the subsidiary is a listed Company, circumstances in the subsidiary may be inside information in respect of the Company’s financial instruments.

Auditor’s reports

If the auditor’s report contains remarks related to the Issuer’s going concern, internal irregularities within the Issuer, or any other remarks from the auditors, the information may constitute inside information.

Deviation in financial result or financial position

In the event that the financial result or position of the Company deviates from what could reasonably be expected based on financial information previously disclosed or otherwise communicated by the Company, information on such deviation may constitute inside information. When deciding whether a change in financial results or the financial position of the Issuer is significant enough to constitute inside information, the Company should evaluate the deviation based on the latest financial performance, forecasts or forward-looking statements. In deciding whether to make a disclosure, the Company should consider performance prospects and known changes in financial conditions during the remainder of the review period. Matters affecting such prospects may include changes in the Issuer’s operating environment and seasonal patterns in the Company’’s line(s) of business. Attention may also be given to any information the Company has disclosed about the effect of external factors on the Company, e.g. sensitivity analysis regarding commodity prices or in relation to specific market developments. Market expectations, such as analyst estimates, are not decisive for such evaluation; instead, the information disclosed by the Issuer itself and what can justifiably be concluded from such information is decisive.

Substantial changes to the operations of the Company

If substantial changes are made to the Company during a short period of time, or in its business activities in other respects, to such a degree that the Company may be regarded as a new undertaking, information on such changes may constitute inside information. Where the Company discloses such changes, the disclosure should include the consequences of the changes.

Information to the Exchange

Public tender offers

Where the Company has made internal preparations to make a public tender offer for financial instruments in another listed Company, the Company shall notify the Exchange when there are reasonable grounds to assume that the preparations will result in a public tender offer.

If the Company has been informed that a third party intends to make a public tender offer to the shareholders of the Company, and such public tender offer has not been disclosed, the Company shall notify the Exchange when there are reasonable grounds to assume that the intention to make a public tender offer will be realised.

When discussions have proceeded to an advanced stage in respect of the acquisition of another listed Company, the Exchange must be informed in advance in order to be able to monitor trading. However, there must be reasonable grounds to assume that the measure will lead to an offer.

The Exchange must also be notified when the Company has been contacted by a third party which intends to make a public offer to the shareholders in the Company, where there are reasonable grounds to assume that the contact will lead to a formal public offer.

There is no formal requirement regarding how to notify the Exchange and notice is normally made by telephoning the surveillance department.

Information for surveillance purposes

Information to be disclosed shall also be submitted to the Exchange for surveillance purposes not later than simultaneously with the disclosure of information, in the manner prescribed by the Exchange.

Information for surveillance purposes must be sent electronically in the manner prescribed by the Exchange. For practical assistance regarding the prevailing practice, the Company can contact the Exchange. In order to comply with the rule the Company should in practice use an information distributor.

Advance information

If the Company intends to disclose information that is assumed to be of extraordinary importance for the Company and its financial instruments the Company shall notify the Exchange prior to disclosure.

 

Check-list Financial Reports – Process

  • Prepare a time table based on reporting date in financial calendar
  • CEO comment – first draft as soon as possible after closing the quarter – front-end
  • Financials – back-end
  • Update quarterly presentation
  • Invitation to investor meeting or quarterly update
  • Meeting for walk-through of financial report with the CEO
  • Distribution to AudCom/Board
  • Meeting AudCom/Board
  • Approval – Distribution through distributor
  • Publish on financial report on website under financial reports in addition to press releases

 

Financial Reports – Content

The announcement containing the financial statement release and the half-yearly financial report shall at least include the information required by IAS 34 “Interim financial reporting”.

Company shall in the report/statement for the first and third quarters disclose the information set out in the guidance note for preparing interim management statements, which the Exchange has published on its website. The Company can, however, deviate from the guidance completely or on certain points, if the Company disclose the reporting/statement format the Company have chosen instead and the reasons for doing that on its website.

 

The financial statement release shall include the proposed dividend per share, if available, and information regarding the planned date of the annual general meeting. It shall also state where and which week the annual financial report will be made available to the public.

An announcement containing a financial statement release or a half-yearly report shall commence with a summary stating the Company’s key figures, including, but not limited to, net turnover and earnings per share as well as information regarding forecasts, if a forecast is provided in the report.

 

Check-list website – Investor Relations and Corporate Governance

  • Press releases and subscription
  • Financial Reports and presentations (10 years from publication date)
  • Financial calendar
  • Share – The 10 largest shareholders, Analysts covering the Company and the sector
  • Corporate Governance
    • The Board of Directors: Bio, information about independency vs major shareholders and management, and shareholding.
    • The Executive Management: Bio
    • Remuneration and incentive programmes
    • Auditors
    • Article of association
    • Corporate Governance report including Auditors review
  • Annual General Shareholders meeting – Notice, documentation and minutes, see more information below.
  • IR contact

 

Check-list Annual General Meeting

Information published on the website prior to notice

The Company is to announce the names of members of the nomination committee on its website no later than six months before the annual general meeting. If any committee member has been appointed by a particular owner, that owner’s name is to be stated. If any member leaves the committee, this information is to be announced. If a new member is appointed to the nomination committee, the corresponding information about the new member is to be provided. The website is also to provide information on how shareholders may submit recommendations to the nomination committee.

As soon as the date and venue of the shareholders’ meeting have been decided, and in the case of annual general meetings no later than in conjunction with the third quarter report, the information is to be posted on the Company’s website. This information is also to include the closing date for matters to be submitted by shareholders for inclusion in the notice of meeting.

AGM Notice and more

Notices to attend general meetings of shareholders shall always be disclosed. This applies irrespective whether a notice contains inside information or not, if a notice will be sent to the shareholders by post or in any other way will be made public (e.g. in a newspaper) and notwithstanding if certain information included in the notice previously has been disclosed according to this Rule Book.

 

A proposal to a general meeting of shareholders which contains inside information should be disclosed as soon as possible according to MAR. This means

that a proposal which contains inside information must be disclosed as soon as possible even if the content of the proposal will later form part of a notice to attend a general meeting of shareholders. If the Issuer plans to communicate inside information at a general meeting of shareholders, the Issuer shall disclose the information in an announcement available to all investors, at the latest at the same time it is presented to the general meeting of shareholders. Even if a notice does not contain any inside information the notice must in general be disclosed at the same time as it is sent to a newspaper. There may, however, be situations where certain information is still outstanding when a draft notice is sent to a newspaper for publication. This could be one reason to delay the disclosure until the notice is finalized. The notice must, however, always at the latest be disclosed the evening before the notice is expected to be published in a newspaper and before it is made available on the Issuer’s website. It is therefore not sufficient that disclosure occurs before the Exchange opens on the day that the notice is published in a newspaper. With insignificant resolutions, the rule refers for example to matters which are of technical nature. After close of the general meeting of shareholders the Issuer shall as soon as possible disclose information about resolutions adopted by the general meeting of shareholders unless a resolution is insignificant. Resolutions whereby the general meeting authorises the board of directors to decide on a matter, such as the issuance of financial instruments or buy-back of own shares, must also be disclosed. In such cases, the Issuer must also disclose the board of directors’ resolution to exercise the authority.

 

Check-list contacts with analysts, investors and the media

  • All contacts shall be co-ordinated by the CFO/IR-function
  • CEO and CFO are spokespersons vs analysts and investors
  • CEO and CFO are spokespersons vs the media
  • All contacts shall be logged with date, contact and main talking points
  • The document should be available for the Board, CEO and CFO.



INFORMATION | Inför Q4 [79]

INFORMATION | Inför Q4


VIDEO | AUDIO

Vi går igenom agendan inför Q4 och har satt ihop ROADMAP för att guida i förberedelserna.

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STRATEGI
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RISK
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RISK | Informationspolicy på ENGELSKA | Communication Policy [29]

RISK | Communication Policy ENGLISH version


On demand, here comes the BOARDA Communication Policy in ENGLISH. The Corporate language for most Nordic companies. Vi på BOARDA försöker jobba kundnära så om det är någon annan del du skulle vilja ha på ENGELSKA så fixar vi det. Uppdaterad 181002.

COMMUNICATION POLICY


Content

Principles Page 1
Roles and responsibilities Page 1
Spokespeople Page 2
Insider Information (MAR) Page 2
Internal communication | Coworker Page 3
External communication | News, Marketing and Social Media Page 3
External communication | Financial information | Insider information Page 5
Other Obligations to Disclose Information | Regulations Page 6
Crisis management Page 8
Existing regulations Page 10
This is a translation of the Swedish Information Policy which is the master document

The company’s communication policy has been adopted by the Board and is an important tool in our pursuit of continuing to build a growing, profitable and sustainable company. The purpose of the policy is to establish guidelines for communication, both internally and externally.

The intention is that the COMPANY (publ) should live as a listed company / prepare for a listing / listed on a marketplace (Nasdaq Stockholm, First North, NGM Equity, NGM Growth Market or Spotlight Stock market, former Aktietorget). This policy covers the COMPANY including its subsidiaries (“the Company”). Companies listed on a marketplace must comply with the EU Market Abuse Regulation (“MAR”) on insider information and the stock exchange’s current regulatory framework for disclosure, “Disclosure Rules,” see page 9.

Principles
+ All communications from the Company should be characterized by speed, pro activity, reliability and transparency.

+ Information published by the Company shall be accurate, relevant and clear and may not be misleading

+ All communications from the Company must comply with the Disclosure Rules.

 

Roles and responsibilities

The CEO is primarily responsible for the Company’s communication. Their responsibilities include the development of communication activities and monitoring the communication of decisions. The Chairman of the Board is responsible for communication from the Company’s Board and owners.

The entire organization is accountable for reliable internal reporting, which is a prerequisite for proper external communication. Employees shall not express themselves externally without the consent of CEO or CFO. If employees are contacted by the media, always refer to the CEO or CFO.

Insider information is managed exclusively by the CEO and CFO. All publications of information, including financial information and media relations shall be in accordance with the Disclosure Rules. The Board is ultimately responsible for the company’s interim financial statements and annual accounts. All investor and media relations are managed by the CEO and CFO. The CEO may delegate to the employee or representative of the company to comment and answer questions on information already published.

 

Spokespeople
+ General spokesperson: CEO
+ Spokesperson for Ownership and Corporate Governance: Chairman of the Board
+ Media, Analyst and Investor Relations: CEO or CFO
+ Marketing and internal communication: CEO with the opportunity to delegate

Insider Information (MAR)
Insider information refers to information of a specific nature that has not been disclosed, which relates directly or indirectly to the Company or a financial instrument issued by or linked to the Company and which, if publicly, would likely have a significant impact on the price of the Company’s share. Examples of what may be inside information: Financial reports, orders and investment decisions, cooperation agreements or other significant agreements, purchase and sale of companies, credit or customer losses, financial difficulties, information about subsidiaries and associated companies, material change in profit or financial position. → See Insider Policy

The company will ensure that all stakeholders in the stock market have at the same time access to inside information regarding the Company. The Company shall therefore ensure that inside information is treated confidentially before it is published and that no unauthorized party is given access to such information. From the above, insider information may not be disclosed to analysts, journalists or others, either individually or in groups, unless it is published simultaneously. → See Insider Policy

INTERNAL COMMUNICATION | Employees
The purposes of internal information and communication are to get the organization to pursue the Company’s long-term goals. Internal communication must be open and continuous in order for the Company’s employees and management to be well-informed and knowledgeable. Good communication increases the ability to make the right decisions and to work more efficiently.


Channels
The primary channels for internal communication are meetings, intranets, the company’s chat features, phone, email and website.

 

Informed employees

An informed employee cannot help taking responsibility. Therefore, the Company is working to ensure that all employees have the information they need, partly to increase understanding of the company and partly to create commitment to achieving our goals. The company strives to communicate decisions and events that affect the employees at the same time as they communicated externally, in case it is inside information, otherwise as soon as possible. All employees must ensure that inside information that has not yet been published is not distributed within or outside the Company. Insider information is confidential information.

EXTERNAL COMMUNICATION | News, Marketing, Social Media
The purpose of marketing is to strengthen the company’s image and increase awareness of the Company and its activities among existing and new customers, partners, employees and other stakeholders. The communication should be long-term and in accordance with the company’s brand, vision, business concept, strategies, goals and values. Communication will strengthen trust in the company’s brand, its employees, management, products and services.

Channels
The primary channels are digital marketing, social media, the website, advertising campaigns, presentation materials and news releases (not press releases).

Social Media
Social media such as LinkedIn, Facebook, Instagram and Twitter are fast-moving media channels while being difficult to control. For the company’s social media accounts:
+ All communications posted must be approved by the CEO or CFO
+ We avoid speculating or leading opinion
+ Confidential information and inside information may not be posted
+ Take responsibility and think twice before posting. Information shared on social media can not be deleted.
+ Communication on social media must comply with the Disclosure Rules

Media Relations
CEO and CFO are responsible for managing media relations. All contacts with the media must be approved by the CEO or CFO. For interviews and articles, the CEO or CFO shall approve quotes and, if possible, correct content before publishing an article.

What we do if contacted by a journalist:
+ Inform that it is the CEO and CFO who are spokespeople and ask if you should ask any of them to call up, record name, phone and e-mail to the reporter
+ Find out where he or she is calling from and what questions he or she wants to ask
+ Contact CEO or CFO and ensure that they receive contact information and information about when the journalist expects a contact
+ Think through the questions and prepare messages
+ The CEO or CFO will call back, as promised, on time
+ Before the interview ends, ask for your quotes for approval

 

News Release
News Release and Marketing PR should contain the heading “News Release” (not press release) with responsible employees and / or CEO as spokespersons.

Here’s how we do:

+ The organization is responsible for producing news announcements and marketing activities.
+ The CFO coordinates all information activities and is responsible for approving news releases and activities (not inside information).

CFO is responsible for coordinating with the CEO and the organization to ensure that the time of distribution does not violate a press release according to the Disclosure Rules.

EXTERNAL COMMUNICATION | Financial information, Insider information and information under the Disclosure Rules | MAR
The purpose of disclosure of insider information and information under the Disclosure Rules  is to provide prompt, simultaneous, accurate, relevant and reliable information to all shareholders, stock markets, the media and other stakeholders.

Information disclosure shall be in accordance with the Disclosure Rules, i.e. Information should always be published first through press release and on the website.

Channels
The primary channel is a press release through an approved news distributor for regulatory news and website, video, phone conferences, analyst meetings, investment events, roadshows, capital markets and other educational events.

Immediate Publication | Press Release (MAR) | Regulatory News
Insider information should be immediately published through a press release according to the Disclosure Rules.

Press Release | Insider and financial information | Regulatory News
In order to comply with the Disclosure Rules, all press releases must contain the heading Press Release (or Regulatory News), and the following information.

Date and time of publication (as indicated in the following section),
+ The company’s full name,
+ The company’s website, contact person, together with position in the company and contact details,(For companies on First North | Company Certified Adviser and telephone number)
+ a clear title summarizing the most important content,
+ a summary introduction with the most important content, as well
+ The most important information clearly presented at the beginning of the message.
+ The press release should contain the following information text “This information is such information as COMPANY ORG.No. xxxxxx-xxxx is required to publish under the EU Market Abuse Regulation. The information was provided, through the contact of the above contact person, for publication on [•] 2018 at. [•] CET. “

Here’s how we do
The CFO coordinates all information activities and is responsible for:
+Manage and internally distribute requests, produce press releases,
+ obtain the CEOs or the board’s chairman’s permission for distribution and publication,
+ distribute written information that has undergone internal quality assurance and is approved for the media,

+ ensure distribution lists are up to date,
+ publish press releases on the website directly related to distribution through news distribution service,

+monitor press and report this internally

CFO is responsible for producing and distributing information in accordance with the Disclosure Rules. CFO is responsible for publishing press releases distributed immediately after distribution on the company’s website. The CFO is responsible for informing (Exchange and / or) Certified Adviser in accordance with the Disclosure Rules.

Any of the Company’s spokespersons should always be available to answer questions from the stock market surveillance. This is especially important when press releases have been published and when there are still unpublished activities that are of interest to the capital market.

 

Suspended publication of inside information (MAR)
The starting point is that the Company is required to publish inside information as soon as possible. Under certain circumstances, however, the Company may postpone such disclosure. The Company may postpone immediate disclosure of inside information only if all three of the following conditions are met:
+ An immediate publication would likely damage the Company’s legitimate interests
+ a delay does not mislead the public, and
+ The company can ensure that the information remains confidential.
→ See Insider Policy

In special cases where information is given as a normal part of the service, business or obligation, and the person receiving the information is obliged not to disclose it. Information may be disclosed prior to the disclosure, if the person is actively involved in the decision-making process, or, as a result of his/her professional role takes part in the process of obtaining the information. For example, it may refer information to major shareholders or prospective shareholders upon prospecting for a planned new issue, to advisors that the Company employs, for example, with the prospectus for a planned issue or other business of a greater extent, to a prospective bidder or target company in the course of negotiations on purchase offer, to so credit-rating agencies or creditors prior to important credit decisions. → See Insider Policy

Business media, analyst contacts and investor relations
Working with investor relations and capital market players should be characterized by providing good service, training and informing investors, analysts, savers and business media about the Company. The purpose is to create a prerequisite for a correct and fair valuation of the Company’s share, thus ensuring continued financing opportunities through the stock market and minimizing the risk of rumours and speculation. Relationships with business media and investors are managed exclusively at the management level of the CEO and CFO.

If the company is asked to comment on a draft analysis, comments should be given to correct a mistake regarding previously published information. The financial model should not be commented or corrected. It is okay to speak in general terms and about the factors that affect the market.

 

OTHER OBLIGATIONS TO PUBLISH INFORMATION | REGULATIONS
Financial reports / statements
The Company shall prepare and publish financial statements / statements in accordance with applicable legislation and relevant accounting standards. Year-end report and interim reports shall be published no later than two months after the end of the report / reporting period. The interim report / statement shall state whether the Company’s auditor conducted a review or not.
Audit Report
The audit report forms part of the annual report. An unclear audit report or audit report that does not have a standard content shall be published.
Forecasts and forward looking statements
The company does not provide any forecasts or other forward-looking information.
Annual General Meeting
Notice of Annual General Meeting shall be published. The Company shall disclose information about decisions taken by the AGM, unless a decision is of minor importance.
Issues of financial instruments
The Company shall publish proposals and decisions that change the Company’s share capital or number of shares or other equity-related financial instruments, unless the proposal or the decision is irrelevant. The conditions and conditions for the issue shall be published as well as the outcome of the issue.
Changes to the Board, Management and Auditors
Proposals and changes regarding the Company’s Board of Directors and senior management shall be published.
Share-based incentive programs
The Company shall publish all decisions to introduce share-related incentive programs.
Transactions with related parties
Decisions on transactions between the Company and a related party shall be disclosed unless the transaction is a part of the Company’s normal business or is of minor importance to the parties involved.
Transparent changes in the Company’s operations
If the Company undergoes a major change or changes its business to such an extent that the Company appears as a new company, the Company shall disclose information about the change and its consequences. The information shall correspond to the information requirements applicable to the preparation of a prospectus.

Decision on listing
The Company shall publish when the Company applies for its financial instruments admitted to trading on the stock exchange for the first time and if the Company applies for secondary listing in another market place. The Company shall also disclose any decision that the Company applies for delisting from the Exchange or other market place. The company shall also publish the outcome of such an application.
Disclosure of information deemed necessary in order to provide fair and orderly trade
If the stock exchange considers that particular circumstances cause material uncertainty regarding the Company or the financial instruments traded, the stock exchange may require the Company to disclose the additional information that the stock exchange considers necessary to provide fair and orderly trading in the Company’s financial instruments. The Exchange may order the Company to disclose further information, whether or not certain information constitutes inside information.
Company calendar
The company will draw up a calendar with details of the date when the Company is expected to publish the year-end report, interim reports and the date of the Annual General Meeting. The company shall also state what week the annual report is intended to be published. The company’s calendar shall be published before the beginning of the financial year. If a publication can not be made on the predetermined date, the Company shall publish information about the new date. If possible, the new date should be published at least one week before the original date. The company should also, if possible, try to specify what time of day the reports will be published. The Company’s calendar is usually published on the website.
Changes and corrections of previously disclosed information: Disclosure Rules
When the Company publishes significant changes to previously published information, the change notice, the press release, shall be provided through the same distribution channels as the previous press release. Corrections of errors in information published and disclosed by the Company shall be disclosed as soon as possible unless the error is insignificant. Regarding changes to information in a financial report, it is usually not necessary to send out the entire report again, but just comment on the change. The change message, the press release, should also go into the same distribution channels as the previous financial report.


Quiet period
The company will observe a silent period beginning 30 days before the publication of financial reports. During this period, the Company’s spokespersons must refrain from answering questions or commenting on the financial results.

Corporate governance
The company applies Swedish code of corporate governance. The website also includes a corporate governance department, which contains information about the CEO and management, board, board work, committees, auditors, reward system, articles of association etc.

 

Website
The company must have its own website where all published information should be available for at least five years. However, financial reports should be available on the website for at least 5 years after publication. The published information shall be made available on the website as soon as possible after publication. The website will also contain a corporate governance section.

The company uses a third party provider for news, distribution and archiving. CFO is responsible for ensuring that website content complies with the requirements of the Disclosure Rules. CFO is also responsible for updating the website in accordance with the requirements of the Disclosure Rules. The publication of press releases and interim reports on the website is handled by the CFO, or by a person whom it has designated, which is responsible for coordinating the uploads with the external company that the Company has engaged.

CRISIS MANAGEMENT
A crisis is an event that poses a threat to the Company and the brand – which risks the business and disturbs the normal processes. By ensuring that everyone is well prepared and continuously identifies potential crises, the Company can reduce the risk of harmful effects as a result of a crisis.

 

All types of damage in terms of negative publicity and reduced confidence in both internal and external relationships must be minimized through appropriate media relations management and effective communication.

 

Responsibilities and Spokespeople

 

The CEO has overall responsibility for the Company’s crisis communication. In a crisis situation, a crisis group is formed. CEO leads the crisis group. The crisis group consists of a spokesperson (CEO) and a person responsible for all the facts. Depending on the type of problem, different parts of the organization may be involved. The Board can address the crisis group’s areas of responsibility and work in serious cases.

 


Channels
The main external channels are press releases and the website.

 

Routines for requests from the media
Employees shall refer all media requests to the CEO or CFO and not make statements externally.


Here’s how we do if we get information leakage
The CEO or CFO should be contacted immediately if information has been leaked out of the company or if inside information is suspected may have leaked. The CFO is responsible for the disclosure of information that has leaked. The CEO or CFO should immediately contact the Exchange if inside information has leaked.

 

  • Council for Crisis Management: CEO and CFO
    Be available.
  • Do not avoid criticism by not answering questions from media or customers. It only makes things worse because it leaves the field free of previous employees, interest groups, unions and others to share their potentially negative image of the organization, product or what the outside world has responded to.
  • Criticism has to be taken seriously, although the criticisms are internally perceived as small and insignificant. Ask test questions like “Is there anything in the criticism?”, “Should we change our working methods, routines or products?”.
  • Show compassion.
  • If a customer, employee or someone else has felt ill-treated and turned to the media to dispel his dissatisfaction, it is better to seek dialogue than confrontation.


    REGULATORY INFORMATION

    Stock exchange rules and the like
    Nasdaq Stockholm
    Nasdaq First North Premier
    NGM Equity
    NGM Growth Market
    Aktietorget | Spotlight Stock Market
    Swedish Code of Corporate Governance

    EU Market Abuse Regulation
    Regulation (596/2014 / EU) of the European Parliament and of the Council on market abuse, including supplementary acts and guidance from the European Securities and Market Authority.

    Swedish law
    Applies to regulated marketplaces like Nasdaq Stockholm and NGM Equity.
    The Act (1991: 980 on Trade in Financial Instruments.
    Act 2007: 528) on the securities market

    Guidance is available at ropa.se/guidance

 

©ROPA management AB | 2018

©ROPA management AB | 2018



RISK | Informationspolicy [26]

RISK | Informationspolicy


INTRO | Video

Vi går igenom en uppdaterad och fungerande mall för informationspolicy som innehåller intern kommunikation, extern kommunikation nyheter, marknadsföring och sociala medier, extern kommunikation insiderinformation och finansiell information, investerar relationer och krishantering. Här går vi igenom informationspolicyn som gör mer än jobbet med regelverken för noterade bolag. “En informerad medarbetare kan inte låta bli att ta ansvar” som Janne Carlzon sa när han på åttiotalet satt i styrelsen för bolaget jag var CFO i.

DOKUMENTATION | Mall informationspolicy och bilder

Här finns bilderna från video, en pdf med mall för informationspolicy och text från informationspolicy längst ner. Licensen avser användning för ett företag.

INFORMATIONSPOLICY

Innehåll

Principer sid 1
Roller och ansvar sid 1
Talespersoner sid 2
Insiderinformation (MAR) sid 2
Intern kommunikation | Medarbetare sid 3
Extern kommunikation | Nyheter, marknadsföring och social medier sid 3
Extern kommunikation | Finansiell information | Insider information Sid 5
Andra skyldigheter att offentliggjorda information | Regelverk sid 6
Krishantering sid 8
Gällande regelverk sid 9

 

Bolagets kommunikationspolicy har antagits av styrelsen och är ett viktigt verktyg i vår strävan att fortsätta bygga ett växande,  lönsamt och hållbart företag. Policyns syfte är att skapa riktlinjer för kommunikation, både internt och externt.

Avsikten är att BOLAGET (publ) ska leva som ett noterat bolag/förbereder sig för en notering/ska noteras på en marknadsplats (Nasdaq Stockholm, First North, NGM Equity, NGM Growth Market eller Spotlight Stockmarket). Denna policy omfattar BOLAGET inklusive dess dotterbolag (”Bolaget”). Bolag som är noterade på en marknadsplats ska följa EUs Marknadsmissbruksförordning (“MAR”) om insiderinformation och börsens gällande regelverk för informationsgivning (“Regelverk för informationsgivning”), se sid 9.

Principer

  • All kommunikation från Bolaget ska karaktäriseras av snabbhet, proaktivitet, pålitlighet och öppenhet.
  • Information som offentliggörs av Bolaget ska vara korrekt, relevant och tydlig och får inte vara vilseledande 
  • All kommunikation från Bolaget ska uppfylla Regelverk för informationsgivning 

Roller och ansvar

VD är primärt ansvarig för Bolagets kommunikation. Dennes ansvarsområden inkluderar utveckling av kommunikationsaktiviteter och att övervaka kommunikationen av beslut. Styrelsens ordförande är ansvarig för kommunikation från Bolagets styrelse och ägare.

Hela organisationen ansvarar för korrekt intern rapportering, vilket är en förutsättning för korrekt extern kommunikation. Medarbetare ska inte uttala sig externt utan godkännande av VD eller CFO. Om medarbetare blir kontaktad av medierna så hänvisa alltid vidare till VD eller CFO. 

Insiderinformation hanteras uteslutande på ledningsnivå av VD och CFO. All publicering av information inklusive finansiell information och medierelationer ska ske i överensstämmelse med Regelverk för informationsgivning. Styrelsen bär det yttersta ansvaret för bolagets delårsbokslut och årsbokslut.  Alla investerar- och medierelationer hanteras av VD och  CFO. VD kan delegera till medarbetare eller representant för bolaget att kommentera och svara på frågor på redan publicerad information.

Talespersoner

  • Allmän talesperson: VD
  • Talesperson för ägarfrågor och bolagsstyrning: Ordförande i styrelsen
  • Media, analytiker och Investerarrelationer: VD eller CFO
  • Marknadsföring och intern kommunikation: VD med möjlighet att delegera

 

Insiderinformation (MAR)

Med insiderinformation avses information av specifik natur som inte har offentliggjorts, som direkt eller indirekt hänför sig till Bolaget eller ett finansiellt instrument utgivet av eller kopplat till Bolaget och som, om det blev offentligt, sannolikt skulle ha en väsentlig inverkan på priset på Bolagets aktie. Exempel på vad som kan vara insiderinformation: Finansiella rapporter, order och investeringsbeslut, samarbetsavtal eller andra väsentliga avtal, köp och försäljning av bolag, kredit- eller kundförluster, finansiella svårigheter,  information rörande dotter- och intressebolag,  väsentlig förändring av resultat eller finansiell ställning. →Se Insiderpolicy

 

Bolaget ska säkerställa att alla intressenter på aktiemarknaden har samtidig tillgång till insiderinformation rörande Bolaget. Bolaget ska därför säkerställa att insiderinformation behandlas konfidentiellt innan den offentliggörs och att ingen obehörig part får tillgång till sådan information. Av ovanstående följer att insiderinformation inte får lämnas ut till analytiker, journalister eller andra vare sig enskilt eller i grupp om den inte samtidigt offentliggörs. →Se Insiderpolicy

INTERN KOMMUNIKATION | Medarbetarna

Syftet med intern information och kommunikation är att få organisationen att aktivt sträva mot Bolagets långsiktiga mål. Intern kommunikation måste vara öppen och kontinuerlig för att Bolagets medarbetare och ledning ska vara välinformerade och kunniga. God kommunikation ökar förmågan att fatta rätt beslut och att arbeta effektivare.

Kanaler

De primära kanalerna för intern kommunikation är möten, intranät, bolagets chattfunktioner, telefon, e-post och hemsidan.

Informerade medarbetare

En informerad medarbetare kan inte låta bli att ta ansvar. Därför arbetar Bolaget för att samtliga medarbetare har den information de behöver, dels  för att öka förståelse för bolaget, dels för att skapa engagemang för att nå våra mål. Bolaget strävar efter att kommunicera beslut och händelser som påverkar medarbetarna samtidigt som de kommuniceras externt, i de fall det är insiderinformation, annars så snart som möjligt. Alla anställda måste säkerställa att  insiderinformation som ännu inte har publicerats inte distribueras inom eller utanför Bolaget. Insiderinformation är konfidentiell information.

EXTERN KOMMUNIKATION | Nyheter, marknadsföring, sociala medier

Syftet med marknadsföring är att stärka bolagets image och öka kännedomen om Bolaget samt dess aktiviteter bland befintliga och nya kunder, partners, medarbetare och andra intressenter.

  • Kommunikationen ska vara långsiktig och i enlighet med bolagets varumärke, vision, affärsidé, strategier, mål och värderingar.
  • Kommunikationen ska stärka förtroendet för bolagets varumärke, dess medarbetare, ledning, produkter och tjänster.

Kanaler

De primära kanalerna är digital marknadsföring, sociala medier, hemsidan, reklamkampanjer, presentationsmaterial och nyhetsmeddelanden (ej pressmeddelanden).

Sociala medier

Sociala medier som LinkedIn, Facebook, Instagram and Twitter är mediekanaler med snabb spridning samtidigt som att de är svåra att kontrollera. För bolagets konton på sociala medier gäller:

  • All kommunikation som postas ska vara godkänd av VD eller CFO
  • Vi undviker att spekulera eller leda opinion
  • Konfidentiell information och insiderinformation får ej postas
  • Ta ansvar och tänk två gånger innan du postar. Information som delas på sociala medier,  kan inte raderas.
  • Kommunikation på sociala medier ska följa Regelverk för informationsgivning

Medierelationer

VD och CFO är ansvariga för att hantera medierelationer. Alla kontakter med media ska godkännas av VD eller CFO. Vid intervjuer och artiklar ska VD eller CFO godkänna citat och, om möjligt, rätta sakinnehåll före publicering av artikel.

Så här gör vi när vi blir kontaktade av en journalist:

  • Informera om att det är VD och CFO som är talespersoner och fråga om du ska be någon av dem ringa upp, anteckna namn, telefon och e-post till journalisten
  • Ta reda på varifrån han eller hon ringer och vilka frågor han eller hon vill ställa
  • Kontakta VD eller CFO och säkerställ att de får kontaktuppgifter och information om när journalisten förväntar sig en kontakt
  • Tänk igenom frågeställningarna och förbered budskap
  • VD eller CFO ringer tillbaka som utlovat på bestämd tid
  • Innan intervjun avslutas, be om att få dina citat för godkännande

Nyhetsmeddelande

Nyhetsmeddelande och marknadsförings-PR ska innehålla rubriken “Nyhetsmeddelande” (ej pressmeddelande) med ansvarig medarbetare och/eller VD som talespersoner. 

Så här gör vi:

Organisationen ansvarar för att producera nyhetsmeddelanden och marknadsföringsaktiviteter.

CFO koordinerar alla informationsaktiviteter och ansvarar för att godkänna nyhetsmeddelanden och aktiviteter (ej insiderinformation). 

CFO är ansvarig för att koordinera med VD och organisationen för att säkerställa att tidpunkten för distribution     inte krockar med pressmeddelande enligt Regelverket för informationsgivning.

EXTERN KOMMUNIKATION | Finansiell information, Insiderinformation och information enligt Regelverk 

Syftet med offentliggörande av insiderinformation och information enligt Regelverk för informationsgivning är att lämna snabb, samtidig, korrekt, relevant och tillförlitlig information till samtliga aktieägare, aktiemarknaden, medierna och andra intressenter. 

  • Informationsgivning ska ske i enlighet med Regelverk för informationsgivning, dvs. information ska alltid först offentliggöras genom pressmeddelande och på hemsidan.

Kanaler

Den primära kanalen är pressmeddelande genom godkänd nyhetstjänst och hemsidan, video-, telefonkonferenser, analytikermöten, investerarträffar, roadshows, kapitalmarknadsdagar och andra utbildningsevent.

Omedelbart offentliggörande | Pressmeddelande (MAR) och regulatorisk information

Insiderinformation ska omedelbart offentliggöras genom pressmeddelande enligt Regelverk för informationsgivning. Regulatorisk 

Pressmeddelande | Insider och finansiell information

För att uppfylla Regelverket för informationsgivning ska alla pressmeddelanden innehålla rubriken Pressmeddelande, samt följande information.

    • Tid och datum för offentliggörandet (genom att detta anges i nedanstående paragraf),
    • Bolagets fullständiga namn,
    • Bolagets hemsida,
    • kontaktperson, tillsammans med ställning i Bolaget och kontaktuppgifter,
    • (För bolag på  First North | Bolagets Certified Adviser samt telefonnummer till denna),
    • en tydlig rubrik som sammanfattar det viktigaste innehållet,
    • en sammanfattande inledning med det viktigaste innehållet, samt
    • den väsentligaste informationen tydligt presenterad i början av meddelandet.

 

  • Pressmeddelandet ska ha följande informationstext ”Denna information är sådan information som BOLAGET org.nr. xxxxxx-xxxx är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning. Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den [•] 2020 kl. [•] CET.” 

 

Så  här gör vi

CFO koordinerar alla informationsaktiviteter och ansvarar för att:

  • Hantera och internt distribuera förfrågningar,
  • producera pressmeddelanden,
  • inhämta VD:s eller styrelsens ordförande tillstånd för publicering,
  • distribuera skriftlig information som genomgått intern kvalitetssäkring och godkänts till media,
  • säkerställa att distributionslistor är uppdaterade,
  • publicera pressmeddelanden på hemsidan i direkt anslutning till distribution via nyhetstjänst,
  • övervaka press och rapportera detta internt

CFO är ansvarig för att producera och distribuera information enligt Regelverk för informationsgivning. CFO är ansvarig för att pressmeddelanden som distribueras direkt efter distribution publiceras på bolagets hemsida. CFO är ansvarig för att informera (börsen och/eller) Certified Adviser i enlighet med Regelverk för informationsgivning.

Någon av Bolagets talespersoner bör alltid finnas tillgänglig för att kunna besvara frågor från börsens marknadsövervakning. Detta är särskilt viktigt när pressmeddelanden har offentliggjorts samt när det pågår ännu inte offentliggjorda aktiviteter som är av intresse för kapitalmarknaden.

Uppskjutet offentliggörande av insiderinformation (MAR)

Utgångspunkten är att Bolaget är skyldigt att offentliggöra insiderinformation så snart som möjligt. Under vissa förutsättningar kan dock Bolaget skjuta upp ett sådant offentliggörande. Bolaget får skjuta upp ett omedelbart offentliggörande av insiderinformation endast om alla tre följande villkor är uppfyllda:

  • Ett omedelbart offentliggörande sannolikt skulle skada Bolagets legitima intressen
  • ett uppskjutande inte vilseleder allmänheten, och
  • Bolaget kan säkerställa att informationen förblir konfidentiell.

→Se Insiderpolicy

I speciella fall, där information ges som ett normalt led i fullgörande av tjänst, verksamhet eller åläggande och den person som mottar informationen är skyldig att inte röja den kan dock information lämnas ut innan offentliggörandet till sådana personer som aktivt deltar i beslutsprocessen eller till följd av sin yrkesroll tar del i arbetet med att ta fram informationen. Det kan exempelvis avse information till större aktieägare eller tilltänkta aktieägare vid sondering inför planerad nyemission, till rådgivare som Bolaget anlitar för t.ex.arbete med prospekt inför en planerad emission eller annan affär av större omfattning, till tilltänkt budgivare eller målbolag i samband med förhandlingar om uppköpserbjudande, till s.k. ratinginstitut inför kreditvärdering eller till kreditgivare inför viktiga kreditbeslut. →Se Insiderpolicy

Affärsmedia, analytikerkontakter och investerarrelationer

Arbete med investerarrelationer och kapitalmarknadsaktörer ska präglas av att ge bra service, utbilda och informera investerare, analytiker, sparare och affärsmedia om Bolaget. Syftet är att skapa förutsättningar för en korrekt och rättvis värdering av Bolagets aktie och därmed säkerställa fortsatta finansieringsmöjligheter via aktiemarknaden samt minimera risken för ryktesspridning och spekulationer. Relationer med affärsmedia och investerare hanteras uteslutande på ledningsnivå av VD och CFO. 

Om bolagets ombeds kommentera ett utkast till analys så ska kommentarer lämnas för att rätta till sakfel avseende redan offentliggjord information. Den finansiella modellen ska inte kommenteras eller rättas till. Det går bra att prata i generella termer och om faktorer som påverkar marknaden.

ANDRA SKYLDIGHETER ATT OFFENTLIGGÖRA INFORMATION | REGELVERKET

Finansiella rapporter/redogörelser

Bolaget ska upprätta och offentliggöra finansiella rapporter/redogörelser i enlighet med gällande lagstiftning och relevanta redovisningsstandarder. Bokslutskommuniké och delårsrapporter ska offentliggöras senast inom två månader från utgången av rapport/redogörelseperioden. Av delårsrapport/redogörelse ska framgå om Bolagets revisor genomfört en översiktlig granskning eller ej.

Revisionsberättelse

Revisionsberättelsen utgör en del av årsredovisningen. En oren revisionsberättelse eller en revisionsberättelse som inte har ett standardinnehåll ska offentliggöras.

Prognoser och framåtblickande uttalanden

Bolaget lämnar inga prognoser eller annan framtidsinriktad information.

Bolagsstämma

Kallelse till bolagsstämma ska offentliggöras. Bolaget ska offentliggöra information om beslut fattade av bolagsstämman, om inte ett beslut är av mindre betydelse.

Emissioner av finansiella instrument

Bolaget ska offentliggöra förslag och beslut som innebär att Bolagets aktiekapital eller antal aktier eller andra aktierelaterade finansiella instrument ändras, om inte förslaget eller beslutet saknar betydelse. Förutsättningarna och villkoren för emissionen ska offentliggöras liksom även utfallet av emissionen.

Förändringar av styrelse, ledning och revisorer

Förslag och förändringar beträffande Bolagets styrelse och högsta ledning ska offentliggöras.

Aktierelaterade incitamentsprogram

Bolaget ska offentliggöra alla beslut att införa aktierelaterade incitamentsprogram.

Transaktioner med närstående

Beslut om transaktion mellan Bolaget och en närstående ska offentliggöras om inte transaktionen utgör en del av Bolaget  normala verksamhet eller är av mindre betydelse för de inblandade parterna. 

Genomgripande förändringar i Bolagets verksamhet

Om Bolaget genomgår genomgripande förändring eller förändrar sin verksamhet på annat sätt i en sådan omfattning att Bolaget framstår som ett nytt företag, ska Bolaget offentliggöra information om förändringen och dess konsekvenser. Informationen ska motsvara de informationskrav som är tillämpliga vid upprättande av prospekt.

Beslut om notering

Bolaget ska offentliggöra när Bolaget ansöker om att få sina finansiella instrument upptagna till handel på börsen för första gången samt om Bolaget ansöker om sekundärnotering på en annan marknadsplats. Bolaget ska även offentliggöra varje beslut som innebär att Bolaget ansöker om avnotering från börsen eller annan marknadsplats. Bolaget ska även offentliggöra utfallet av en sådan ansökan.

Offentliggörande av information som anses nödvändig för att kunna tillhandahålla en rättvis och välordnad handel

Om börsen anser att särskilda omständigheter orsakar väsentlig osäkerhet gällande Bolaget eller de handlade finansiella instrumenten kan börsen ålägga Bolaget att offentliggöra den ytterligare information som börsen anser är nödvändig för att kunna tillhandahålla rättvis och välordnad handel i Bolagets finansiella instrument. Börsen kan ålägga Bolaget att offentliggöra ytterligare information oavsett om viss information utgör insiderinformation eller inte.

Bolagets kalender

Bolaget ska upprätta en kalender med uppgifter om datum då Bolaget förväntas offentliggöra bokslutskommuniké, delårsrapporter samt datum för årsstämman. Bolaget ska vidare lämna uppgift om vilken vecka årsredovisningen avses publiceras. Bolagets kalender ska publiceras innan det finansiella årets början. Om ett offentliggörande inte kan göras på den förutbestämda dagen ska Bolaget publicera uppgifter om det nya datumet. Om möjligt ska det nya datumet publiceras minst en vecka innan det ursprungliga datumet. Bolaget bör också om möjligt försöka att specificera vilken tid på dagen som rapporterna kommer att offentliggöras. Publicering av Bolagets kalender sker normalt på hemsidan.

Ändringar och korrigeringar av tidigare offentliggjord information: Regelverket

När Bolaget offentliggör väsentliga förändringar av tidigare offentliggjord information ska ändringsmeddelandet lämnas genom samma distributionskanaler som den tidigare informationen. Korrigeringar av fel i information som offentliggjorts av Bolaget ska offentliggöras så snart som möjligt om inte felet är oväsentligt. När det gäller ändringar av information i en finansiell rapport, är det normalt inte nödvändigt att skicka ut hela rapporten en gång till, utan det räcker med att endast kommentera ändringen. Ändringsmeddelandet ska även i detta fall gå ut i samma distributionskanaler som den tidigare finansiella rapporten.

Tyst period

Bolaget ska iaktta en tyst period som börjar 30 dagar innan publicering av finansiella rapporter.  Under denna period måste Bolagets talespersoner avstå från att besvara frågor eller kommentera det finansiella resultatet.

Bolagsstyrning

Bolaget tillämpar svensk kod för bolagsstyrning. Hemsidan ska också innehålla en avdelning för bolagsstyrning, som innehåller information om VD och företagsledning, styrelse, styrelsearbetet, kommittéer, revisorer, belöningssystem, bolagsordning osv.

Hemsidan

Bolaget ska ha en egen hemsida där all offentliggjord information ska finnas tillgänglig under minst fem år. Finansiella rapporter ska dock finnas tillgängliga på hemsidan under minst tio år efter offentliggörandet. Den offentliggjorda informationen ska göras tillgänglig på hemsidan så snart som möjligt efter offentliggörandet. Hemsidan ska också innehålla en avdelning för bolagsstyrning.

Bolaget använder en tredjepartsleverantör för nyheter, distribution och arkivering. CFO ansvarar för att säkerställa att hemsidan innehåll uppfyller kraven i Regelverk för informationsgivning. CFO ansvarar även för att hemsidan uppdateras i enlighet med kraven i Regelverk för informationsgivning. Publicering av pressmeddelanden och delårsrapporter på hemsidan hanteras av CFO, eller av en person som den har utsett, som ansvarar för att koordinera uppladdningarna med det externa företag som Bolaget anlitat.

KRISHANTERING

En kris är en händelse som utgör ett hot för Bolaget och varumärket – som riskerar verksamheten och stör de normala processerna. Genom att se till att alla är väl förberedda och kontinuerligt identifierar potentiella kriser kan Bolaget minska risken att drabbas av skadliga effekter till följd av en kris.

Alla typer av skada i form av negativ publicitet och minskat förtroende i både interna och externa relationer måste minimeras genom lämplig hantering av medierelationer och effektiv kommunikation.

Ansvar och talespersoner

VD har det övergripande ansvaret för Bolagets kriskommunikation. I en krissituation bildas en krisgrupp. VD leder krisgruppen. Krisgruppen består av en talesperson (VD) och en person som ansvarar för alla fakta. Beroende på typ av problem kan olika delar av organisationen involveras. Styrelsen kan ta på sig krisgruppens ansvarsområden och arbete i allvarliga fall.

Kanaler

De huvudsakliga externa kanalerna är pressmeddelanden och hemsidan.

Rutiner vid förfrågningar från media

Anställda ska hänvisa alla medieförfrågningar till VD eller CFO och inte göra uttalanden externt.

Så här gör vi om vi får informationsläckage

VD eller CFO ska omedelbart kontaktas om information har läckt ut från bolaget eller om insiderinformation misstänks kan ha läckt ut. CFO är ansvarig för att offentliggörande av information som har läckt ut. VD eller CFO ska omedelbart kontakta börsen om insiderinformation har läckt ut. 

Råd för krishantering: VD och CFO

  • Var tillgänglig.
  • Undvik inte kritik genom att inte svara på frågor från media eller kunder. Det gör bara saker och ting värre, eftersom det lämnar fältet fritt för tidigare anställda, intressegrupper, fackföreningar och andra att delge sin eventuellt negativa bild av organisationen, produkten eller vad det är omvärlden har reagerat på.
  • Kritik måste tas på allvar, även om kritiken internt uppfattas som liten och obetydlig. Ställ testfrågor som ”Ligger det något i kritiken?”, ”Ska vi ändra våra arbetsmetoder, rutiner eller produkter?”.
  • Visa medkänsla.
  • Om en kund, anställd eller någon annan har känt sig illa behandlad och vänt sig till media för att vädra sitt missnöje är det bättre att söka dialog än konfrontation

ETT URVAL AV REGELVERK FÖR INFORMATIONSGIVNING 

Börsregelverk och liknande

  • Spotlight Stock market
  • Nasdaq Stockholm
  • Nasdaq First North Premier
  • NGM Equity
  • NGM Growth Market
  • Svensk kod för bolagsstyrning

 

EUs marknadsmissbruksförordning

Europaparlamentets och rådets förordning (596/2014/EU) om marknadsmissbruk, inkluderande kompletterande rättsakter och handledning från European Securities  and Market Authority.

 

Svensk lag

Gäller reglerade marknadsplatser som Nasdaq Stockholm och NGM Equity.

Lagen (1991:980 om handel med finansiella instrument.

Lagen 2007:528) om värdepappersmarknaden

©ROPA management AB | 2020 uppdaterad maj 2020