Follow-up obligations Open Market
Follow-up obligations Open Market
Overview
Corporate Calendar
Briefly, this needs to be done:
- A Corporate Calendar including the most important diary dates needs to be created,
- kept up-to-date continuously and
- at least at the beginning of each financial year
- be transmitted via the Exchange Reporting System-interface (ERS) to Deutsche Börse AG.
Legal basis
This obligation is regulated in the General Terms and Conditions of Deutsche Börse AG for the Regulated Unofficial Market (Freiverkehr) on Frankfurter Wertpapierbörse (GTC DBAG). In detail, the requirements result from
- Sect. 21 Paragraph 1 Let. d) GTC DBAG for issuers of shares and certificates representing shares in scale
- Sect. 22 and Sect. 21 Paragraph 1 Let. d) GTC DBAG for issuers of bonds in scale
Minimum contents of the Corporate Calendar
The Corporate Calendar has to contain any and all significant dates of the issuer in the course of the ongoing financial year. Significant dates of the issuer are, for instance, the shareholders’ meeting or the analyst and investor event according to Sect. 21 Paragraph 1 Let. e) GTC DBAG.
If the actual dates have not been determined at this point in time, as a first step the statement of the month when the event is expected to take place shall be sufficient. As soon as the actual date is determined, it has to be inserted in the Corporate Calendar and the Calendar’s updated version has to be transmitted to Deutsche Börse AG.
Dates which already took place must not be deleted from the Corporate Calendar before the financial year has expired, as a deletion of these dates would deny any interested party the information whether a date in question has or has not taken place already.
The dates of publication of the Annual and Half-yearly Financial Statements do not need to be registered into the Corporate Calendar. Many issuers add such dates into their Corporate Calendar for the purpose of information though, since the date appears on the site www.boerse-frankfurt.de.
Continuous update
After the inclusion the Corporate Calendar has to be kept up-to-date continuously. Thus, if there are any changes regarding significant dates, the Corporate Calendar needs to be adjusted accordingly without delay.
Language requirements
The Reports and the auditor’s certificate have to be transmitted either in German or in English.
Requirements regarding the submission
The reports have to be transmitted via the Exchange Reporting System-interface (ERS).
Time limits provided for follow-up transmissions
The Corporate Calendar has to be transmitted anew to Deutsche Börse AG after any kind of adjustment regarding significant dates. Furthermore, a new version of the Corporate Calendar has to be at least prepared and transmitted to Deutsche Börse AG within a narrow time frame after the beginning of each financial year.
Frequently asked questions
How does Deutsche Börse AG sanction violations of this follow-up obligation?
Deutsche Börse AG can impose a contractual penalty on the negligent issuer. The precise amount of the penalty imposed by Deutsche Börse AG depends in particular on the duration and extent of the violation and the significance of the violation for the capital market.
Deutsche Börse AG may also publish the penalty imposed, naming the issuer and the specific violation, on its internet site.
Contact person
Rule Enforcement
Phone +49 (0) 69 - 211 – 1 38 88
E-Mail: rule-enforcement@deutsche-boerse.com