Ordinance of the Swiss Financial Market Supervisory Authority on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading

(Art. 120 paras. 1, 3 and 4, 123 para. 1 FMIA)

¹The no­ti­fic­a­tion duty un­der Art­icle 120 para­graph 1 FMIA arises with the jus­ti­fic­a­tion of the claim to ac­quire or sell equity se­cur­it­ies (bind­ing trans­ac­tion), ir­re­spect­ive of wheth­er this claim is con­di­tion­al. The in­dic­a­tion of an in­ten­ded pur­chase or sale does not en­tail any no­ti­fic­a­tion re­quire­ment, provided there are no leg­al ob­lig­a­tions in­volved.

²The oc­cur­rence of a re­port­ing ob­lig­a­tion at the time of the bind­ing trans­ac­tion un­der para­graph 1 and the as­so­ci­ated loss of be­ne­fi­cial own­er status and vot­ing en­ti­tle­ment, do not en­tail a sep­ar­ate re­port­ing ob­lig­a­tion un­der Art­icle 120 para­graph 3 FMIA either for the buy­er or seller.

³There is a re­port­ing ob­lig­a­tion in­cum­bent on com­pan­ies with a re­gistered of­fice in Switzer­land in­clud­ing a no­tice in the Swiss Of­fi­cial Gaz­ette of Com­merce on reach­ing, ex­ceed­ing or fall­ing short of a threshold fol­low­ing an in­crease, de­crease or re­struc­tur­ing of its share cap­it­al. Com­pan­ies with a re­gistered of­fice out­side Switzer­land whose equity se­cur­it­ies are lis­ted in whole or in part in Switzer­land are sub­ject to the no­ti­fic­a­tion duty at the time of pub­lic­a­tion un­der Art­icle 115 para­graph 3 FMIO.