It is in the interest of BW Offshore as a public listed company to effectively communicate with the financial community and other stakeholders in order to ensure a fair valuation and increase the shareholder value. The integrity of the capital markets is based on full and fair disclosure of information.
BW Offshore will maintain a reliable and open relationship with investors, and the company’s objective is to provide a higher return than alternative investments with a comparable risk profile. Return is measured on a total shareholder return basis, including both share price performance and dividend payments. Based on these value parameters, the BW Offshore share shall be an attractive investment opportunity.
All shareholders in BW Offshore have equal rights and the company treats all shareholders equally. The company has one share class and each share carries one vote at the company’s general meetings. BW Offshore is a Bermuda limited liability company listed on the Oslo Stock Exchange. The company is therefore obliged to comply with the Bermuda Companies Act, its Memorandum of Association and its Bye-laws, as well as the disclosure requirements of the Oslo Stock Exchange.
Certain aspects of the Company’s activities are governed by Norwegian law pursuant to the Listing Agreement between the Oslo Stock Exchange and the Company. In particular, the Norwegian Securities Trading Act and the Norwegian Stock Exchange Regulations will generally apply.
BW Offshore commits to good corporate governance and generally comply also with the Norwegian Code of Practice for Corporate Governance. Divergence from this code is clearly described in BW Offshore’s Corporate Governance policy, which is included in the Annual Report and available on the company’s website. BW Offshore is committed to providing timely, orderly, consistent and credible information. Information and communication are regulated by the company’s media policy and investor relation policy, and covers disclosures to the investment community, the press, industry consultants and other audiences. All investors have equal access to material information, and all information provided externally by the company shall be consistent with disclosures to the investment community.
During a period of two weeks before the planned release of an interim financial report, BW Offshore will not comment on matters related to the Company’s financial performance or expectations, save for ordinary communication with analysts and investors on general aspects of the business.
BW Offshore maintains a list of primary insiders in the Company, and will also maintain internal lists for insiders in cases sensitive to the stock prices. The investor relations activities aims to ensure that:
- The information it provides to the financial markets gives market players the best possible basis for establishing a precise picture of the company’s financial condition and factors which might affect its future value creation
- The market price of BW Offshore’s shares reflects the fair value of the company
- BW Offshore’s shares remain as liquid as possible, with low volatility
- BW Offshores maintains access to capital markets on the most favourable possible terms
- BW Offshore’s Board of Directors and executive management are adequately informed about developments in financial markets and about stakeholder views on the company’s position and development