Act on Securities Trading (Securities Trading Act)

Part 2. General provisions

Chapter 5. Ongoing and periodic information requirement, publication etc.

III. Disclosure of information etc.

Section 5-12.Disclosure, filing and storage of information
(1) The issuer, or the person who has applied for admission to trading on a regulated market without the issuer’s consent, shall disclose information regulated under this Act in an efficient and non-discriminatory manner. Investors and potential investors in the transferable securities shall not be charged for the disclosure of the information and shall to a reasonable degree be assured access to the information within the EEA area. The information shall at the same time as it is made public be communicated to the regulated market concerned which shall store it in an adequate manner.
(2) Information as mentioned in sections 5-5, 5-5(a) and 5-6 shall be filed with Finanstilsynet by electronic means at the same time as disclosure under subsection (1) takes place. The ministry may make further provision concerning such filing.
(3) Information which is confidential or classified in the interest of national security, relations with foreign states or national defence may not be made public under subsection (1).
(4) Subsection (1) first and second sentences and subsection (2) apply to issuers having Norway as their home and host state. For issuers with Norway as their host state, the provisions mentioned only apply where securities are admitted to trading on a regulated market only in Norway. Such issuers shall in addition to publicly disclosing the information file such information with the official storage mechanism of the country concerned.
(5) The ministry may by regulations make further provision concerning public disclosure and storage of information, including rules requiring that the information be disclosed and stored by means other than that specified in this section. The ministry may make regulations concerning link-up to a European single access point for officially appointed storage mechanisms for regulated information.
Section 5-13.Languages
(1) Issuers having Norway as their home state and whose transferable securities are admitted to quotation on a Norwegian regulated market only, shall disclose information in Norwegian.
(2) Issuers having Norway as their home state and whose transferable securities are admitted to quotation both in Norway and in a host state shall disclose information in Norwegian and, depending on the choice of the issuer, either in a language accepted by the competent authority of the host state or in English.
(3) Finanstilsynet may determine that an issuer as mentioned in subsections (1) and (2) may be exempted from the requirement to disclose information in Norwegian. The requirement to disclose information in Norwegian pursuant to subsections (1) and (2) shall not apply to reports as mentioned in section 5-5 (a) subsection (3) of the Securities Trading Act. Finanstilsynet may delegate authority under the first sentence to a regulated market.
(4) Issuers having Norway as their host state and whose transferable securities are not admitted to quotation on a regulated market in their home state shall disclose information in Norwegian, Swedish, Danish or English.
(5) Where transferable securities are admitted to quotation on a regulated market without the issuer’s consent, the obligations under subsections (1) to (4) shall be incumbent upon the person who has requested such admission without the issuer’s consent.
(6) Where securities with a denomination of at least EUR 100,000 or, in the case of bonds in a currency other than the euro, with a denomination equivalent to at least EUR 100,000 on the date of issue, are admitted to trading on a regulated market in Norway, the issuer shall disclose the information either in Norwegian or English.