Companies must immediately and clearly communicate any events that could affect the price of a share beyond normal trading fluctuations. This means that all the market participants interested in a particular company have the same level of information.

WHAT NEEDS TO BE PUBLISHED

The ad hoc publicity obligation covers information relevant to prices, such as financial figures, staff changes and planned mergers. There is no exhaustive list of events so the decision as to whether to publish an ad hoc announcement is at the discretion of the listed company.

WHEN IT NEEDS TO BE PUBLISHED

An ad hoc announcement is required as soon as the company becomes aware of the essential elements of the matter at hand. If possible, the announcement must be published outside of trading hours: before 7:30 am or after the close of trading at 5:35 pm. If, in exceptional cases, the announcement is made during trading hours, we must be informed at least 90 minutes before publication so that we can temporarily cease trading the affected securities if the situation requires it.

publication hours

WHERE IT NEEDS TO BE PUBLISHED

To reach the widest audience, ad hoc announcements must be sent not only to us, but also to at least two electronic financial news services and two national Swiss daily newspapers. The announcement must also appear on the listed company’s website and must be sent to interested market participants by email.