Shareholders of listed companies have an obligation to notify both the listed company and the Finnish Financial Supervisory Authority (FIN-FSA) of changes in their holdings. Listed companies have an obligation to publicly disclose the shareholder’s notification.
Under the provisions of the Securities Markets Act, changes in holdings must be disclosed when the holding reaches, exceeds or falls below 5, 10, 15, 20, 25, 30, 50, 66.7 (2/3) or 90 per cent of the numbers of shares or the voting rights of the company.
A notification of major holdings must be made without undue delay, but no later than the next trading day after the shareholder has learned or should have learned of a transaction leading to the breach of a notification threshold.
Flagging notifications must be sent to Orthex without unnecessary delay using the email address firstname.lastname@example.org.
Additional information can be found on the website of the FIN-FSA.