The Insider Rules endorsed by the Board of Directors and adopted by the company on March 1, 2000 fully comply with and exceed the requirements of the guidelines recommended by the OMX Nordic Exchange Helsinki. The Insider Rules are available to all the company’s employees through the company’s intranet.
Under the company’s Insider Rules, insiders may engage in trading in the company’s shares only at times when the market has the fullest possible knowledge of matters that could influence the share value. For this reason, Elcoteq’s permanent insiders are not permitted to trade in the company’s shares during the time between the closing of its reporting period and the date of the results publication.
As from the beginning of 2006, the company has maintained a public insider register that comprises the members of the Board of Directors, the President and CEO, the COO, the members of the Management Team, the auditor and other separately specified members of the company’s management.
Individuals who by virtue of their duties regularly receive information regarded as insider information are included in the company’s nonpublic insider register. Elcoteq also maintains project specific insider registers.
The insider registers are maintained by Elcoteq’s legal affairs department, which also updates the information on Elcoteq’s insiders in the register maintained by the Finnish Central Securities Depository. The company’s public insider register can be viewed on the company’s website.
Elcoteq’s shares remain in the book-entry securities system maintained by the Finnish Central Securities Depository even after the transfer of domicile. The insider registers will remain as before. As of January 1, 2008, the legislation of both Finland and Luxembourg will be applied in insider supervision. The Finnish Financial Supervision Authority supervises compliance with legislation and regulations on project-specific insider registers, while supervision of the public insider register is handled by CSSF (Commission de Surveillance du Secteur Financier).