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© tom_schmucker dreamstime.com Electronics Production | October 31, 2016

Hexagon CEO investigation by Norwegian authorities for insider trading

Ola Rollén, Hexagon’s president and CEO, is currently under investigation for insider trading. The reason for this is a previous purchase of shares in Next Biometrics.
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, a press released issued by Christian B Hjort and Erik Keiserud, Ola Rollén’s lawyers, states.

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 and his lawyers argues that “the charge is based on a misinterpretation of the factual and legal issues in the matter,” the press release reads.

According to the lawyers the acquisition of the 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.

Hexagon informs that during the time period that Ola Rollén is detained, Hexagon’s CFO and Executive Vice President Robert Belkic will be acting CEO for Hexagon.

Hexagon’s Board of Director’s says that it has full confidence in Ola Rollén and he will resume his position as CEO as soon as the detainment is ended.

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