Investor Relations policy
Introduction
The overarching purpose of the Investor Relations (IR) function is to stimulate capital market interest in Aker BP to support access to capital at competitive terms.
Best practice in Investor Relations requires a clear comprehension of the company’s assets, operations, strategy, and financial framework. Additionally, it entails the ability to communicate effectively with both external and internal stakeholders while adhering to regulatory frameworks.
Objectives and purpose
Aker BP’s primary objective is to provide its shareholders with a competitive return on their investment over time through increased share price and cash dividends.
Furthermore, Aker BP aims to build confidence in its value creation potential in the capital markets, promote fair pricing and stimulate liquidity in the trading of Aker BP-issued securities.
To accomplish these objectives, the company is committed to maintain an open, precise and transparent communication with the capital markets and corporate stakeholders. Hence, the purpose of the company’s investor communication is to ensure that:
- Relevant and accurate information is promptly shared with the capital markets in a non-discriminatory manner
- Aker BP is perceived as an accessible, dependable, and professional company by the capital markets
- Feedback flows from the capital markets to Aker BP’s Executive Management and Board of Directors
Aker BP complies with the Oslo Børs Code of Practice for IR. Any deviations from this code will be described and explained on Aker BP’s website.
Contact with the capital markets
General principles
All shareholders and bondholders must have equal access to simultaneous information about the company. All communication with the capital markets must be factual.
Shareholders and bondholders are encouraged to contact the company. Authorised spokespersons should ensure that everyone has the opportunity to express their views.
Roles and responsibilities
Company spokespersons authorised to communicate with analysts and investors include the Chairman of the Board, CEO, CFO, VP Investor Relations, and Investor Relations Officers.
Quiet periods
Two weeks before issuing an earnings release, Aker BP will generally observe a quiet period. During this time, authorised spokespersons will avoid discussing company financial and operational results and outlook with members of the investment community. This quiet period encompasses activities like investor conferences, group meetings, and one-on-one meetings.
The goal is to prevent selective disclosure or any perception thereof. During quiet periods, executive directors and senior management will not be available for IR-related communication.
Information
Aker BP is committed to publishing accurate and pertinent information about its earnings, operations, strategy, and outlook. This information should support shareholders, potential investors, and market participants when making decisions about trading Aker BP-related shares and securities. The provided information should be consistent over time.
Aker BP will adhere to the framework outlined by the Norwegian Securities Trading Act, EU’s Market Abuse Regulation (MAR), the Norwegian Accounting Act, and Oslo Børs’ rules for ongoing obligations of issuers. Additionally, Aker BP will follow relevant recommendations and market practices for reporting financial and investor information.
All written financial and investor-related information will be published in English.
Guidance
As part of the ongoing market communication, Aker BP may provide relevant forward-looking information related to its business plans, forecasts etc. to help market participants form reasonable expectations. Such information is generally known as guidance and should adhere to the following principles:
- Transparent – information should be sufficiently comprehensive and precise to enable a fair valuation
- Unbiased – information should be based on the company’s best estimates, aiming to establish realistic market expectations
- Consistent – communication regarding guidance parameters should remain consistent over time
Distribution of information
Aker BP’s communication with the capital markets is rooted in transparency and aims to treat all participants equally. The VP Investor Relations is responsible for Aker BP’s engagement with investors and analysts, including roadshows, investor conferences, group and individual meetings, ad hoc calls and emails.
Relevant information about the pricing of Aker BP securities will be published on the company’s website and through Oslo Børs distribution channels.
Aker BP offers a digital subscription service for the company’s stock exchange announcements and press releases. All information sent to Aker BP’s shareholders and bondholders will be promptly available on the company’s website.
In addition to making information accessible to those seeking it, the company’s IR efforts will focus on raising awareness of Aker BP and its securities among various market participants.
Earnings reporting
Aker BP will report its financial performance each quarter.
Interim reports are generally published within 45 days after the end of the relevant quarter in accordance with stock exchange rules and Oslo Børs Code of Practice for IR. Timing details for interim reports will be accessible on the company’s website.
As a general rule, quarterly earnings releases will be distributed at 06:00 am (CET/CEST) on the reporting day.
Management intends to engage with investors and analysts through roadshows following quarterly earnings reports. The specifics of the programme may vary from one period to another.
Investor, analyst and media communication
In addition to the quarterly reporting, Aker BP will regularly meet with investors and analysts, and respond to media inquiries.
The company’s ability to provide individual market participants, including investors and analysts, with company information will be constrained by regulations applying to stock exchange-listed companies. This includes adhering to good stock exchange practices and the general requirement of equal treatment.
Presentations used in investor meetings and conferences should in general be grounded in previously published material. Presentations containing new material information should be publicly disclosed and made available on the company’s website.
Insider register and insider lists
The VP Investor Relations is responsible for handling insider lists and the primary insider register, and to ensure that the company’s procedures for handling of inside information are regularly updated and in compliance with laws and regulations.