Investor Relations Policy
1. Objectives
The aim of Festi‘s (the Company) Investor Relations is to provide information to the market so the Company’s share price reflects the fair value of the Company at all times with as. To reach that goal the policy is to disclose timely and accurate financial and corporate information to the investor community and analysts.
The objective is to disclose financial and corporate information and to provide the investor community and analysts with the necessary insight to form a qualified opinion of the Company and its outlook.
The Company complies with relevant legal and regulatory requirements and submits the appropriate information through announcements to NASDAQ OMX Iceland.
The Company encourages analysts to cover the Company.
2. Activities and Services
To meet the Company’s objectives set out in section 1, the Company’s Investor Relations aims to ensure awareness within the investment community of the Company and its business operations and prospects.
The Company presents its quarterly results on a meeting with investors, analysts and other stakeholders one or two banking days after the quarterly accounts are released.
All announcements are published on the Company’s website and via recognized distribution vehicle.
The CFO is the primary point of contact for investors and analysts, however the CEO will participate in dialogue with the investment community as necessary and appropriate.
The CFO is a member of the Company’s Executive Management Board and is responsible for investor relations activities, such as:
- Ensuring compliance with legal and regulatory requirements.
- Policies for meetings with investors and analysts.
- Content of the Investor Relations section of the Company’s website.
3. Investor relation practices
3.1 Guidance
The Company generally provides guidance for the calendar year, development of operations and the Company’s environment. The guidance is updated on quarterly basis when quarterly accounts are submitted to the stock exchange.
The Company does not provide comfort or otherwise comment on the likelihood that it will meet its guidance. Neither will the Company comment on the likelihood that it will meet analyst’s estimates. This applies in all phases of the quarterly reporting cycle.
3.2 Quiet period
The period from the end of a reporting quarter until the day of release of quarterly reporting is considered a quiet period. During the period there are no broad business discussions with investors and analysts.
3.3 Comments on sensitive business activities, share price fluctuations etc.
The Company follows a policy of not disclosing sensitive information regarding sales, employees, business development and other business issues that may affect the Company’s competitive position unless such disclosure is required by law.
The Company does not comment on share price movements or trading volumes and generally refrains from commenting on rumours or speculations.
3.4 Communication with Analysts
If the Company reviews reports to be published by analysts or others the remarks will be limited to the following:
- Adjust historical data if needed.
- General information about the Company's business environment.
- Necessary remarks on already published information.
3.5 Authorised Spokespersons
The President and the CFO are authorised to communicate with the investor community. However, when appropriate, other Company employees may be designated by an authorized spokesperson to respond to specific inquiries. Investors should not rely on statements made by individuals other than authorised spokespersons or individuals designated by the authorised spokespersons. Please send questions or enquiries to fjarfestatengsl@festi.is.