–
This summer, Arne Fredly completed a major sale of shares in Axxis Geo Solutions, now Carbon Transition. With the sales, Fredly ended up with less than five percent ownership, which triggers a flagging obligation. But Fredly did not flag the sale in time.
Finanstilsynet now gives him a fee of one million kroner, writes Finansavisen. Fredly himself believes that this is ten times greater than what is usual to give in the event of a breach of the flag duty, he tells the newspaper.
Finanstilsynet will have access to a number of tape recordings between Fredly and the ABG Sundal Collier broker who carried out the transaction. There, Fredly is said to have asked the broker to keep a close eye on the sale of shares to other, named investors. To Finansavisen, Fredly says that he does not see anything wrong with it.
Fredly first sold 100 million Axxis shares on Thursday 17 June, thus falling below the five percent limit. He sold more both on Friday 18 June and Monday 21 June. Only on Monday should Fredly have realized that the first sale had triggered a flag obligation. By then, the deadline for reporting the sale had already expired.
“We have to flag vettu, we have to flag for ***”, Fredly is said to have told the broker after realizing this, according to Finansavisen.
Fredly is unhappy with Finanstilsynet’s assessment.
–
– This is ridiculous, and a desire to bother me. They insinuate that I had planned not to flag while the opposite is stated in the losses. I had no reason not to flag when two thirds of the position had already been sold. It also had no consequences for anyone, he says to Finansavisen.
DN has tried to contact both Fredly and the audit late Wednesday night, but has not received a response yet. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
–
