Nexam Chemical approved for listing on Nasdaq First North Premier
Nasdaq has approved Nexam Chemicals application for listing on Nasdaq First North Premier. The requirements for listing on Nasdaq First North Premier are more extensive than compared to the current list that Nexam Chemical are listed on today, and in line with the stricter rules applicable on the regulated market, Nasdaq Stockholm.
Nexam Chemical follow, since the beginning of the year, the Swedish Corporate Governance
Code and applies to, as of the publication of 2016 year annual report, the International Financial Reporting Standards, IFRS. The listing on Nasdaq First North Premier is a sign of quality that enables for further institutional owners and a natural step towards Nasdaq Stockholm.
Nasdaq First North Premier is a list for companies that have committed to comply with a stricter regulatory framework regarding information, accounting and corporate governance. In the recently published annual report for 2016, Nexam Chemical has transitioned to and is now applying IFRS. IFRS is the international accounting standard and a requirement for listing on both Nasdaq First North Premier and Nasdaq Stockholm. Nexam Chemical has also chosen to follow the Swedish Corporate Governance Code, which is optional for Nasdaq First North Premier but conditional for listing on Nasdaq Stockholm.
“Nexam Chemicals business is continuously developing positively and in the right direction. The focus of the business is primarily on commercializing the company´s products and the anticipated sales growth. The ambition to be listed on a regulated market remains, but taking into account our large cash and financial strength, the business focus is on marketing, broadening the customer base, delivering on signed agreements and further develop the masterbatch concept.
Moving to Nasdaq First North Premier, with essentially the same rules and requirements as Nasdaq Stockholm, is a natural step towards listing on a regulated market. With applying to the Swedish Corporate Governance Code and financial reporting according to IFRS, Nexam Chemical already meet significant parts of the requirements for companies listed on regulated markets” says Lennart Holm, Chairman of the Board.
Nexam Chemical has been listed on Nasdaq First North since April 2013. Nexam Chemical is included in the index First North 25 since October 2015 when the index was introduced. First North 25 is an index for companies with the highest market cap and the most traded shares on Nasdaq First North. First day for trading on Nasdaq First North Premier will be 10 May, 2017.
Note: This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
For further information please contact:
Lennart Holm, Chairman of the Board, +46-706 30 85 62, lennart.holm@nexamchemical.com
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About Nexam Chemical
Nexam Chemical develops technology and products that make it possible to significantly improve the production process and properties of most types of plastics in a cost-effective manner and with retained production technology. The improved properties include strength, toughness, temperature and chemical resistance as well as service life. The improvements in properties that can be achieved by using Nexam Chemical's technology make it possible to replace metals and other heavier or more expensive materials with plastics in a number of applications. In applications where plastic is already used, Nexam Chemicals products can improve the manufacturing process, reducing material use and enable more environmental friendly alternatives. Example of commercial applications: pipe manufacturing, foam production and high-performance plastics. More information about the business will be found on www.nexamchemical.com. The company´s Certified Adviser is FNCA Sweden AB.
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