Insider issues

CapMan follows EU’s Market Abuse Regulations (MAR) that entered into force on 3 July 2016 and the guidelines for insiders issued by Nasdaq Helsinki. CapMan has supplemented the general guidelines with its own set of internal insider guidelines, which are stricter in some areas. The Group’s General Counsel is responsible for insider issues.

Notification requirements of managers and their closely associated persons

The requirement to maintain public insider registers ceased as MAR entered into force. The information of CapMan’s public insider register until 2 July 2016 is available on CapMan’s website until 3 July 2017. As of 3 July 2016, CapMan discloses the transactions in CapMan’s financial instruments of persons discharging managerial responsibilities and their closely associated persons in line with MAR to the extent the value of the transactions exceed in aggregate EUR 5,000 during a calendar year. The total shareholdings will be published as part of the year end reporting pursuant to the Finnish Corporate Governance Code. The company maintains a list of persons discharging managerial responsibilities at CapMan and their closely associated persons. The list is not public. In accordance with MAR, CapMan has defined this group to include members of its Board of Directors and Management Group (including the CEO).

Trading and closed period

CapMan’s managers (as described above) or employees are not permitted to execute transactions in financial instruments issued by the company for a closed period of at least 30 calendar days prior to the publication of CapMan’s financial statements or interim reports. The publication dates are announced annually over a stock exchange release. CapMan’s managers are further not allowed to execute transactions using the company’s financial instruments without the permission of the person responsible for insider issues. In addition, any persons holding inside information relating to CapMan may not trade in CapMan’s financial instruments. CapMan’s managers and employees have been instructed to inform their closely associated persons regarding trading restrictions applicable to them without disclosing any insider information in the process.

Insider lists

As of 3 July 2016, CapMan no-longer maintains a permanent insider register. All persons holding inside information are included in project-specific insider lists, which are established in accordance with MAR and internal company guidelines following a decision to suspend the disclosure of inside information

Monitoring and training

The Group’s legal team monitors adherence to insider guidelines in line with Nasdaq Helsinki rules and reminds employees of trading restrictions, maintains insider lists and arranges internal training for employees regarding insider issues and disclosure responsibilities of listed companies.

Holdings of persons discharging managerial responsibilities on 2 July 2016

The information set out in the table below represents the shareholdings of the persons listed, i.e. former public insiders, on 2 July 2016. Pursuant to the entry into force of MAR, the way in which the ownership information of the persons discharging managerial responsibilities at CapMan is disclosed has changed as of 3 July 2016. This table will be kept public on CapMan’s website until 3 July 2017 and thereafter stored with the company for the following four years.

Notification forms and process for transactions of managers and their closely associated persons as of 3 July 2016

Notifications of managers and their closely associated persons as of 3 July 2016