The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years and have carried out the major part of its business for at least three years, cf. Section 2-1 of the Stock Exchange Regulations.
This exemption was granted because analysis of the company is very largely dependent on factors that are available to the market in other ways, and the market therefore has access to sufficient information to reach an informed opinion on the company. Based on an overall evaluation, Oslo Bors has concluded that an exemption from the requirement for the company to have been in existence and carried out the major part of its business for at least three years is in the interests of investors and the public.
The Board authorized the President of Oslo Bors to fix the date of the first day of listing, which is to be no later than December 8, 2006. Listing is expected November 10, 2006.
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