Alma Media's series II shares granted liquidity guarantee by Conventum
ALMA MEDIA CORP. STOCK EXCHANGE RELEASE 19 JAN 2004, 9.00 AM 1 (5) ALMA MEDIA'S SERIES II SHARES GRANTED LIQUIDITY GUARANTEE BY CONVENTUM Alma Media Corporation and Conventum Securities Limited have signed a liquidity guarantee contract concerning Alma Media Corporation's Series II share. Under the contract, which comes into force on 19 January 2004, Conventum will quote a bid and ask price for Alma Media's Series II share with a spread of at most 3 %. The quotes are for at least five hundred (500) shares that equals five share lots. Alma Media Corporation and Conventum Securities Limited have signed a contract under which Conventum Securities Limited will guarantee the liquidity of Alma Media Corporation's Series II share from 19 January 2004. Conventum Securities Ltd (the liquidity provider) undertakes, in the HETI system of the HEX Integrated Markets Ltd (the Helsinki Stock Exchange) every trading day during continuous trading, which at the time of signing this contract runs from 10.00 am to 6.00 pm, to quote a bid and ask price for Alma Media's Series II share on the Stock Exchange's Main List. The liquidity provider undertakes to quote such a price for at least eighty-five per cent (85 %) of the above-mentioned trading hours of the day. The liquidity provider is required to quote a bid and ask price for at least 500 shares. The liquidity provider will quote bid and ask prices for the Company's share in such a manner that the spread of the bid and ask prices is a maximum of three per cent (3 %) calculated on the bid quotation of the share. The contract will be effective until January 19th, 2005 in such a way that both contracting parties have the right to terminate the contract. The daily turnover of Alma Media's Series II share in 2003 averaged almost 5000 shares. The liquidity provision contract will make trading easier for private retail investors, in addition to increasing the liquidity of the share and reducing the volatility of the share price. Alma Media Corporation is the first company on the Main List of the Helsinki Stock Exchange to make this type of contract, a practice that in Sweden now covers some 50 companies. ENCLOSURE: Liquidity Provider Contract 2 (5) ALMA MEDIA CORPORATION Ahti Martikainen Vice President, Corporate Communications and Investor Relations Further information: Ahti Martikainen, tel. +358 9 507 8514 DISTRIBUTION: Helsinki Exchanges, principal media LIQUIDITY PROVIDER CONTRACT 1. Contracting parties Conventum Securities Limited, (hereinafter öLiquidity Providerö), business ID 0805553-2, Kaivokatu 12 A, FIN-00100 Helsinki and Alma Media Corporation, (hereinafter öCompanyö), business ID 1449580-9, Eteläesplanadi 14, FIN-00130 Helsinki 2. Purpose of the contract By this contract the Liquidity Provider and the Company have agreed on liquidity provider operations related to the stock exchange quotation of the Company's share and aimed at guaranteeing sufficient liquidity in the Company's share on the Helsinki Stock Exchange. 3. Liquidity provider operations By this contract, the Liquidity Provider undertakes, in the HETI system of the HEX Integrated Markets Ltd (hereinafter "the Stock Exchange") every trading day during continuous trading, which at the time of signing this contract runs from 10.00 a.m. to 6.00 p.m., to quote a bid and ask price for the Company's series II share on the Stock Exchange's Main List. The Liquidity Provider undertakes to quote such a price for at least eighty-five per cent (85%) of the above-mentioned trading hours of the day. The Liquidity Provider is liable to quote a bid and ask price for at least five hundred (500) shares. The Liquidity Provider shall quote bid and ask prices for the Company's share in such a manner that the spread of 3 (5) the bid and ask prices is a maximum of three (3) per cent calculated on the bid quotation of the share. In cases where trading in a security subject to liquidity provider operations has been suspended on the Stock Exchange, the Liquidity Provider shall discontinue liquidity provider operations for the time of the suspension. 4. Liquidity Provider's right to deviate from liquidity provider obligation On the same conditions as the President of the Stock Exchange and in accordance with section C 1 of the Stock Exchange rules, the Liquidity Provider has, if the Stock Exchange has not suspended trading in the Company's share, the right to temporarily suspend the quoting of bid and ask prices, subject to the consent of the President of the Stock Exchange. The Liquidity Provider shall immediately inform the Company of this. Should the Company fail to comply with the legislation or official regulations governing its operations or with its obligations under this contract, the Liquidity Provider has the right to discontinue its liquidity provider operations. 5. The Company's obligation to disclose information Any such resolutions passed by the Company and any issues regarding the Company's operations that are liable to have a material impact on the value of the Company's share, shall without undue delay be disclosed by the Company in the manner provided in the Finnish Securities Markets Act, in the official regulations and guidelines issued by virtue of this Act and in the Stock Exchange rules, and the Liquidity Provider shall, for the purpose of liquidity provider operations, be notified by the Company of such resolutions and issues. 6. Fee The Company shall, for the liquidity provider operations, pay the Liquidity Provider a fee to be agreed separately later. 7. Liability to pay damages The Liquidity Provider shall not be responsible for any loss arising from: - Actions of public authorities, - War or threat of war, rebellion or civil commotion or, 4 (5) - Failures in electronic data processing, in postal, telephone, telegram or telefax communications or in electricity supply which are beyond the control of the Liquidity Provider and which materially affect the Liquidity Provider's operations, - Suspension of or delay in liquidity provider operations or actions because of a fire or another comparable incident, - Measures related to industrial disputes such as strikes, lockouts, boycotts or blockades, materially affecting liquidity provider operations, even in cases where such measures concern only part of the Liquidity Provider's employees and irrespective of whether the Liquidity Provider is party to such measures or not, or - Any other comparable force majeur or unreasonable hampering of liquidity provider operations for a reason similar to those specified above. The contracting parties undertake to compensate one another for any immediate loss that may be caused to the other party by the guilty party who has failed to comply with the Securities Markets Act, with the official regulations and guidelines issued by virtue of this Act or with the Stock Exchange rules, or who has acted in breach of this contract. 8. Validity of contract The contract will enter into force on January 19th, 2004 and will be effective until January 19th, 2005 in such a way that each contracting party has the right to give written notice of termination of the contract with two week's notice. In the event that notice of termination of the contract is given, the party giving notice shall immediately inform the Stock Exchange of the notice of termination and disclose the notice of termination in the manner provided in the Securities Markets Act and the Stock Exchange rules. 9. Confidentiality The contracting parties shall not disclose or otherwise reveal or take advantage of any information related to one another's business or professional secrets or financial or private circumstances in cases where such information has not been made public or has not otherwise been ordered to be made public. 10. Stock Exchange's right of supervision 5 (5) The Stock Exchange shall have the right to supervise compliance with this contract and to obtain from the parties any information necessary for such supervision. 11. Arbitration and governing law Any disputes arising from this contract shall, in the first place, be solved by negotiations between the parties. In the event that no settlement is reached in such negotiations, disputes arising from this contract shall be settled by a court of arbitration applying the Finnish Arbitration Proceedings Act. The arbitration court shall be composed of one arbitrator appointed by the Arbitration Board of the Finnish Central Chamber of Commerce at the request of any of the parties. The arbitration procedure shall be subject to the Arbitration Rules of the Central Chamber of Commerce and the legal venue of arbitration shall be Helsinki. If the amount of dispute does not exceed EUR 20,000, the dispute shall be settled by the Helsinki district court. This contract and its provisions shall be governed by Finnish law. 12. Contract copies This contract has been drawn up in three identical copies both in Finnish and in English, of which one Finnish- language copy and one English-language copy for each contracting party and one for the Helsinki Stock Exchange. In case of any discrepancy between the Finnish and English- language versions of the contract, the Finnish-language version shall be decisive. Helsinki, January 16th, 2004. Conventum Securities Limited Alma Media Corporation
- Date: 19.1.2004, 09:00
- News type: Stock exchange release
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