Enquiries to: Anne Marie Romsaas
Dir.line: +47 22 93 98 87
Our reference: 12/3092
Filing code: 727
With effect from the financial year 2008, foreign issuers with Norway as their home state pursuant to section 5-4 of the Norwegian Securities Trading Act (no. 75 of 29 June 2007) must comply with the majority of the rules regarding financial reporting in chapter 5 of the Securities Trading Act and secondary regulations. Finanstilsynet (Financial Supervisory Authority of Norway) oversees the financial reporting of issuers of listed securities pursuant to section 15-1 subsection (3) of the above Act.
Each year Finanstilsynet will review a selection of annual financial statements. One of the
models used for selecting financial statements for oversight is a risk based approach. Related to this, Finanstilsynet requires a yearly report (KRT 1003) from all issuers of listed securities with Norway as their home state; see the Norwegian Securities Trading Regulations section 13-5 (2). This report gathers information about the issuer and the board of directors’ draft of the annual report as the basis for selecting financial statements for review.
Issuers incorporated in Norway are required to file the report electronically via the Altinn
internet portal; this portal is unavailable to issuers that are not incorporated in Norway. The issuer is requested to complete the report, KRT 1003, electronically via Questback (an online survey provider). The issuer is also requested to provide Finanstilsynet with an e-mail address as soon as possible and by 22 March 2012 at the latest. This will enable Finanstilsynet to e-mail to the issuer the electronic report form KRT 1003 in mid-April. The identification number needed by Questback will also be sent by e-mail.
For issuers with financial year ending 31 December, the deadline for filing KRT 1003 is 15 May. Issuers whose securities were delisted between 01.01.2012 and 15.05.2012 can
apply for exemption from the reporting obligation. Issuers with a different financial year should contact Finanstilsynet for clarification of the time schedule for filing KRT 1003.
Queries may be addressed to the persons listed at the end of this letter.
Siw-Mette Thomassen (sign.)
Head of Section
Anne Marie Romsaas (sign.)