Swiss stock exchange reprimands Affichage
The Geneva-based billboard advertising company Affichage has been reprimanded by the Swiss Stock Exchange (SWX) for violating corporate governance guidelines.
The Geneva-based poster advertising company Affichage has been reprimanded by the SWX Swiss Exchange for violating corporate governance guidelines. These guidelines require companies to provide the required information. If the information is not disclosed, this must be justified in the annual report.
The Affichage annual report 2004 lacked clear information on the change of control clauses. It was not clearly formulated whether Affichage had change of control clauses or not, according to the explanatory statement. One example of such clauses are severance payments for top management, also known as "golden parachutes".
According to the SDA news agency, Affichage has also violated the Listing Rules, as the duty of disclosure and notification was only partially complied with.
The Affichage annual report 2004 lacked clear information on the change of control clauses. It was not clearly formulated whether Affichage had change of control clauses or not, according to the explanatory statement. One example of such clauses are severance payments for top management, also known as "golden parachutes".
According to the SDA news agency, Affichage has also violated the Listing Rules, as the duty of disclosure and notification was only partially complied with.
