From 1 September 2022, the rules on disclosure of large shareholdings in companies listed on the Oslo Stock Exchange and Euronext Expand are amended. Here we list the most important amendments:
- The disclosure obligation will apply to derivatives with listed shares as underlying and which have a similar economic effect to owning shares, for example swaps and financial contracts for difference.
- No longer a disclosure obligation for subscription rights and convertible bonds which only give the right to demand shares issued.
- Both lending and borrowing of shares will be subject to the disclosure or large shareholdings obligation.
- The holdings of spouses and children shall no longer be consolidated with the relevant investor.
- The notification of large shareholdings must still be sent promptly but can exceptionally be postponed until the stock exchange opens on the second trading day at the latest.
- The requirements for the content of the notification of large shareholdings are essentially continued.
- The thresholds for disclosure of large shareholdings will continue unchanged.
- Still no rules on disclosure of large shareholdings at Euronext Growth Oslo.
- Financial instruments linked to a basket of shares or an index must be included in the mandatory holding if the index represents more than 1% of the voting rights in the relevant issuer or the shares in the relevant issuer make up at least 20% of the values in the index.
Here you can read information about the changes from the Norwegian Financial Supervisory Authority.
