Notification of major holdings

The flagging obligation refers to the obligation under Chapter 9 of the Securities Markets Act to disclose major holdings and voting rights. It applies to shareholders of a listed company, persons comparable to shareholders, and the listed company itself.

The flagging obligation aims to ensure that investors have equal access to information on the ownership and voting structure of a listed company and on any changes to it.

A flagging notification must be made when a holding or share of voting rights in a listed company reaches, exceeds or falls below a flagging threshold. The thresholds are 5%, 10%, 15%, 20%, 25%, 30%, 50%, 2/3 and 90% of the company’s votes or shares.

Making a flagging notification

A flagging notification must be made without undue delay, and no later than the trading day after the shareholder learned, or should have learned, of the transaction that crossed a flagging threshold. The notification is made in writing on the flagging form.

Send the completed form to Springvest at juuso.viitanen@springvest.fi and to the Finnish Financial Supervisory Authority (FIN-FSA) at liputukset@finanssivalvonta.fi.

More information on the flagging obligation, as well as the flagging form, is available on the FIN-FSA website.