Stockholmborsen: Stricter Requirements for Listing of Companies


STOCKHOLM, Sweden, June 28, 2002 (PRIMEZONE) -- Stockholmsborsen (Stockholm Exchange) has adopted stricter requirements for companies intending to list shares. The new regulations involve:


-- The same requirements for listing in the O-List as for the A-List
   with regard to senior management, Board of Directors and capacity
   for stock market information

-- Requirements for training in stock market information and insider
   rules prior to listing

-- More extensive requirements for spread of share ownership

-- An application for listing may be denied if the listing is judged to
   seriously damage confidence in Stockholmsborsen and other areas of
   the securities market

The Board of Stockholmsborsen has decided to implement stricter listing requirements for companies seeking to have their shares listed on Stockholmsborsen. This change forms part of the Exchange's ongoing efforts to develop and improve the requirements for listed companies. The purpose is to satisfy investors' needs for information and openness in the best possible manner and to increase requirements for expertise in listed companies in order to maintain a well functioning stock market. To a certain extent, the new requirements represent an adaptation of regulations to the practices that have successively been developed within Stockholmsborsens Listing Committee, the body responsible for making decisions on the listing of companies on Stockholmsborsen. In brief, the new requirements entail the following:


-- A company without a documented ability to earn profits shall
   demonstrate that it has sufficient financial resources to be able to
   conduct operations during at least the next 12-month period.

-- The company shall fulfill stock exchange requirements regarding
   senior management, composition of its Board of Directors, financial
   control and its capacity for providing stock market information. Among
   other aspects, at least two members of the Board must be independent in
   relation to the company's principal owners. At least one of these Board
   members shall have experience of the requirements placed on a listed
   company. From senior management, only the President should be a Board
   member.

-- Board members, senior executives and the company's external
   auditors must undergo training organized by Stockholmsborsen before the
   company can be listed. This training covers such matters as the
   Exchange's listing contract, the extent and formulation of stock market
   information and insider rules.

-- Stricter requirements for the spread of the company's shares have been 
   implemented. At least 25 percent of shares (previously 10 percent) and 
   10 percent of votes shall be owned by the general public.

-- The company shall have at least 500 shareholders (previously 300),
   each owning at least one trading unit. A trading unit is the number of
   shares corresponding to approximately SEK 10,000.

-- Even if a company fulfills the requirements for listing,
   Stockholmsborsen may refuse listing should this be judged to 
   potentially severely damage confidence in Stockholmsborsen and other 
   areas of the securities market.

The new requirements apply to companies initiating listing procedures at Stockholmsborsen as of July 1, 2002.


For further information, contact:               
Anders Ackebo, Listing and Supervision Manager  +46 73 077 52 25
Christina Ploom, Acting Listings Manager        +46 70 579 52 46
Maria Andark, Vice President Corporate          
Communication, Stockholmsborsen                 +46 70 579 52 76

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The following files are available for download:


www.waymaker.net/bitonline/2002/06/28/20020628BIT00330/wkr0001.doc
www.waymaker.net/bitonline/2002/06/28/20020628BIT00330/wkr0002.pdf