Follow-up obligations Open Market

Follow-up obligations Regulated Market

Financial Calendar

As a Prime Standard issuer you must send the continuously updated Financial Calendar, compiled in German and English, to the Stock Exchange via a data interface. By publishing the Calendar on the Stock Exchange website you draw the capital market’s attention to your most important diary dates.

Briefly, you have to do the following:

  • Prepare the Financial Calendar in both German and English
  • at the start of each business year to cover at least that respective business year,
  • keep such Calendar continuously updated,
  • publish it on the company website and
  • transmit it through the Exchange Reporting System-interface to the Stock Exchange Management Board.

Legal basis

Sect. 54 of the Exchange Rules of the Frankfurter Wertpapierbörse (BörsO FWB) provides for the obligation to prepare, update, publish and transmit the Financial Calendar.

Minimum contents of the Financial Calendar

The Financial Calendar has to include the issuer’s significant target dates for the current business year.
Significant target dates are specifically

  • the date of the general shareholders meeting,
  • the dates of Analysts Meetings and
  • the dates of press conferences.

The dates for publication of the Annual- and Half-yearly Financial Reports as well as Quarterly Statements or Quarterly Financial Reports, however, do not need to be entered into the Financial Calendar. Still many issuers will include these dates for information purposes into their Financial Calendars and, of course, you are free to do so.

The individual obligations - preparation, publication, transmission and update

  • Issuers in Prime Standard have to prepare a Financial Calendar including, at least, the significant target dates of the current business year. This Financial Calendar has to be prepared in both German and English. The BörsO FWB does not provide for any exemptions from this requirement.
  • The Financial Calendar has to be published on the company website of the issuer.
  • Additionally, the Financial Calendar has to be transmitted electronically to the Stock Exchange Management Board. For the electronic transmission the Exchange Reporting System-interface (ERS) has to be applied. The issuers may either get themselves connected to this interface or may employ a service provider with connection to the ERS in order to transmit their Financial Calendar. All data transmitted via the interface will be published subsequently on the company website of Deutsche Börse AG, (under the respective issuer’s name / Company Details / Company Events), and thus provided to the interested investing public in a timely and easily accessible manner. The electronic transmission via the ERS has to include the complete Financial Calendar for one business year; different business years have to be registered separately. In case of a modification or new entry of a date, all Calendar dates entered so far for the respective business year also have to be registered anew. This results from the fact that amendments or alterations of one date in an existing Calendar will cause the loss all other dates entered so far into that Calendar.
  • The Financial Calendar has to be updated continuously which means that it needs to be kept up-to-date at any time. This is the only way to guarantee that interested investors, analysts and press representatives are able to take notice of the issuer's significant target dates.

Time limits

The obligations set forth in the BörsO FWB relating to the Financial Calendar begin at start of trading.

In the years following the start of trading, issuers in Prime Standard have to prepare, publish and transmit a new Financial Calendar at the beginning of each new business year.

Obligated party according to Sect. 54 BörsO FWB

If certificates representing shares are admitted, the issuer of the represented stock has to display their target dates in the Financial Calendar. Target dates of the issuer of the certificates representing shares, however, are of no relevance in these cases.

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Rule Enforcement

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