NOTE fined by Stockholm Stock Exchange

In its report on the first six months of 2005, NOTE stated that the company's long-term profit-margin objective was 6%, without specifying when the objective was to be achieved. At an analysts meeting on September 7, 2005, the then president of the company stated, in response to a question, that it would be considered a failure if the margin objective was not achieved within six months. As a result of this information, the company's share price rose sharply during a period of substantial share turnover, which means that the information was of significance to the share's performance. The Disciplinary Committee found that NOTE had breached the regulations by not disclosing the statement of September 7 in the stipulated manner and fined the company two annual fees, corresponding to a total of SEK 384,000. It is stipulated in the listing agreement that any information that could significantly affect the valuation of a company's shares must be disclosed. Such disclosure is effected by presenting the information to a number of newspapers and news agencies.