Each issuer needs a clear regulation governing the responsibilities, including substitute representation, for Ad hoc Publicity. The personnel and IT infrastructure must be designed in such a way that an ad hoc announcement can be written, signed off, and published within a very short period of time, which includes back-up plans in case of an IT malfunction for example.
A profit warning has to be published as soon as a member of the management or a non-executive director becomes aware of a significant deviation from the previously published forecast.
As far as the disclosure of shareholdings is concerned, both the amount of the shareholding and also the identity of the significant shareholders can be relevant for investors. The change in the shareholding can thus be price-sensitive and is therefore subject both to the Ad hoc Publicity requirement and the requirement for the issuer to disclose the shareholding. The publication by third parties of price-sensitive information in connection with an issuer does not release the issuer from its obligation to publish an ad hoc announcement on the same information.
With regard to CONNEXOR Reporting, it is recommended to register several people so that the reports can be transmitted to SIX Exchange Regulation AG on schedule even during absences due to vacation or illness.
