A shareholder of a listed company has an obligation to inform the Financial Supervisory Authority and the listed company in question of the changes in its holding in the listed company’s shares. A listed company is obliged to publish the flagging notification received from a shareholder.
Under the provisions of the Securities Markets Act, changes in holdings must be disclosed when the holding reaches, exceeds or falls below 5, 10, 15, 20, 25, 30, 50 or 66.7 (2/3) per cent of the voting rights or the numbers of shares of the company.
The objective of the regulation on the notification obligation is to ensure that shareholders have access to information on the ownership and power structures of a listed company and any changes therein. Considering the material impact that flagging information may have on the value of a listed company’s shares, notifications give investors an opportunity to equal access to information.
Finnair has received the following notices pursuant to chapter 9, section 5 of the Securities Market Act:
8 October 2012
Funds managed by SKAGEN AS notified Finnair Plc that their combined holding of Finnair's shares and voting rights has decreased below 5% (1/20) and totals 4.46% of the shares and voting rights.
27 May 2008
Funds managed by SKAGEN AS notified Finnair Plc that their combined holding of Finnair's shares and voting rights has exceeded 5% (1/20) and totals 5.04% of the shares and voting rights.
31 March 2008
FL Group hf. notified Finnair Plc that its direct and indirect holding of Finnair's shares and voting rights has decreased below 5% (1/20) to 0%.
19 December 2007
FL Group hf. notified Finnair Plc that its direct and indirect holding of Finnair's shares and voting rights has decreased below 15% (3/20) to 12.69%.
29 December 2006
FL Group hf. notified Finnair Plc that its direct and indirect holding of Finnair's shares and voting rights has exceeded 20% (1/5) and totals 22.41%. Straumur-Burdaras Investment Bank hf notified Finnair Plc that its holding of Finnair's shares and voting rights has decreased below 10% (1/10) to 0.27%.
28 June 2006
Kaupthing Bank hf's and its subsidiaries combined holding of Finnair's shares and voting rights has decreased below 5% (1/20) to 2.6%.
4 April 2006
FL Group hf. notified Finnair Plc that its holding of Finnair's shares and voting rights has exceeded 10% (1/10) and totals 10.03%.
2 March 2006
Kaupthing Bank hf. notified Finnair Plc of certain amendments to its forward contracts. Following these amendments, the holdings of Kaupthing Bank hf. and its subsidiaries in Finnair Plc did not change as foreseen earlier.
2 March 2006
FL Group hf notified Finnair Plc of certain amendments to its forward contracts. Following these amendments, the holding FL Group hf in Finnair Plc did not change as foreseen earlier.
5 January 2006
Kaupthing Bank hf notified Finnair Plc that the combined holding of Kaupthing Bank hf and its subsidiaries of Finnair's shares and voting rights has exceeded 5% (1/20) and totals 6.28%. Due to forward contracts, the voting rights related to all of the shares concerned to had been assigned to the counterparties of the forward contracts. The combined holding of Kaupthing Bank hf's and its subsidiaries was expected to decrease below 5% (1/20) on 1 March 2006.
5 January 2006
FL Group hf. notified Finnair Plc that its holding of Finnair's shares and voting rights has exceeded 5% (1/20) and totals 6.11%. Of this, a holding corresponding to 2.45% was based on forward contracts maturing on 1 March 2006.
5 December 2005
Straumur-Burdaras Fjarfestingabanki hf notified Finnair Plc that its holding of Finnair's shares and voting rights has exceeded 10% (1/10) and totals 10.74%.
3 October 2005
Straumur-Burdaras Fjarfestingabanki hf notified Finnair Plc that its holding of Finnair's shares and voting rights has exceeded 5% (1/20) and totals 8.7%. Burdaras HF notified Finnair Plc that its holding of Finnair's shares and voting rights has decreased below 5% (1/20) to 0%.
16 February 2005
Burdaras HF notified Finnair Plc that its holding of Finnair's shares and voting rights has exceeded 5% (1/20) and totals 6.19%.