Vestas takes note of reprimand concerning lack of comments on rumours of new order
On 21 July 2010, Vestas published a company announcement regarding Vestas having received a 570 MW order for 190 V90-3.0 MW turbines for Terra-Gen's Alta Wind Energy Center near Tehachapi, California, USA, ref. company announcement No. 27/2010.
Both prior to and after disclosure of the company announcement, Vestas has been in dialogue with NASDAQ OMX Surveillance Copenhagen, as rumours were already in the market on 15 and 16 July 2010 that Vestas was close to receiving the mentioned order. According to item 3.1.4. in Rules for issuers of shares on NASDAQ OMX Copenhagen A/S, a company must react when discovering that price sensitive information is accessible in the market prior to such disclosure. NASDAQ OMX Surveillance Copenhagen has reprimanded Vestas for not disclosing a company announcement about the ongoing negotiations with the customer as soon as Vestas became aware that the information relating to such was available in the market. Vestas takes note of the reprimand. NASDAQ OMX Surveillance Copenhagen has in its decision emphasised that the stock exchange basically has no remarks to Vestas' policy about only announcing firm and unconditional orders. However, as a consequence of the reprimand, Vestas will in future on a case to case basis evaluate if it is necessary according to the rules in force to disclose a company announcement prior to the normal time for publication, in case of tangible rumours in the market. Contact details: Vestas Wind Systems A/S, Denmark Peter W Kruse, Senior Vice President, Group Communications Telephone +45 9730 0000