Ola Rollén under investigation by Norwegian authorities for insider trading unrelated to Hexagon
Ola Rollén, Hexagon’s President and CEO, is currently under investigation for insider trading stemming from personal investments unrelated to Hexagon. The circumstances have been explained in this morning’s press release from Christian B Hjort and Erik Keiserud, Ola Rollén’s lawyers, arguing “that the charge is based on a misinterpretation of the factual and legal issues in the matter.” (See the full release below.)
Melker Schörling, Hexagon’s Chairman of the Board, said, “I have received the statement from Christian B. Hjort and Erik Keiserud, Ola Rollén’s lawyers, and I have complete confidence in Ola Rollén. During 16 years of close collaboration, I have never had to question his judgement.”
Below is the press release issued by Christian B. Hjort and Erik Keiserud, Ola Rollén’s lawyers:
Oslo, 31 October 2016
As Ola Rollén’s Norwegian lawyers we would like to inform the following:
The Norwegian economic crime authority has accused Ola Rollén for insider trading in connection to an investment in the Norwegian company Next Biometrics ASA in October last year.
Ola Rollén was following the charge, detained on 29 October 2016 for a week following a decision by the district court in Oslo. The decision to detain Ola Rollén is based on the economic crime authority’s need to secure evidence.
Ola Rollén firmly denies the accusations. He does not admit to any guilt.
We argue that the charge is based on a misinterpretation of the factual and legal issues in the matter.
The acquisition of 284,341 shares in Next Biometrics was done by the private equity fund Greenbridge Partners, which at the time was being founded in order to complete a long-term investment in Next. The shares were acquired according to normal procedures in the market place, and were not based on any insider information.
Ola Rollén hopes that the investigation will confirm the actual circumstances as soon as possible. He has been fully cooperative with authorities to ensure that the case has all relevant information. He wishes to provide no further comments before the economic crime authority has completed their investigation.
He deeply regrets the harm that this incident and investigation will cause for Hexagon, Greenbridge Partners and himself.
For further information, please contact attorney Erik Keiserud, mobile +47 95170947, e-mail firstname.lastname@example.org,
or lawyer Christian B. Hjort, mobile +47 91633626, e-mail email@example.com
For further information, please contact:
Johnny Andersson, General Counsel, Hexagon AB, +46 8 601 26 27
Robert Belkic, Chief Financial Officer and Executive Vice President, Hexagon AB, +46 8 601 26 35
Mattias Stenberg, Chief Strategy Officer, Hexagon AB, +44 20 7068 6565
Maria Luthström, Investor Relations Manager, Hexagon AB, +46 8 601 26 27, firstname.lastname@example.org
This information is information that Hexagon AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:15 CET on October 31, 2016.
Hexagon is a leading global provider of information technologies that drive productivity and quality across geospatial and industrial enterprise applications. Hexagon's solutions integrate sensors, software, domain knowledge and customer workflows into intelligent information ecosystems that deliver actionable information. They are used in a broad range of vital industries. Hexagon (Nasdaq Stockholm: HEXA B) has more than 16,000 employees in 46 countries and net sales of approximately 3.0bn EUR. Learn more at hexagon.com and follow us @HexagonAB.