Major shareholder notification covers the obligation resting on shareholders in a company whose shares are admitted to trading to disclose to the company and the Danish FSA when their holding of shares and/or voting rights in the company reaches, exceeds or falls below the thresholds 5, 10, 15, 20, 25, 50 or 90 per cent and the thresholds 1/3 and 2/3.
The purpose of the major shareholder notification is to ensure that the investors are able to acquire or sell shares with full knowledge of the ownership structure in a company.
When a company receives a notification to the effect that the holdings of a shareholder reaches, excaeeds or falls below the thresholds mentioned, the company must publish an announcement within three days.
Reporting to the Danish FSA
At the same time as the notification is submitted to the issuing company under section 29(1) and (3-6) of the Danish Securities etc. Act, the shareholder or the natural or legal person must submit the information to the Danish FSA.
Submission of shareholder notifications to the Danish FSA takes place by filling in a standard form and submitting this electronically via the Danish FSA’s reporting system for major shareholders.
Standard form for notification of major shareholders is available here.
The standard form is immediately to be submitted in the reporting system of the Danish FSA. Immediately means on the trading day when the shareholder acquires or sells the shares, cf section 3(1) of the executive order on major shareholders.
It is necessary to log into the system using NemID or digital signature in order to submit major shareholders notifications. If you cannot obtain a NemID or a digital signature, you may apply a user name and access code instead.
User name and access code to the reporting mechanism of the Danish FSA may be created here.