Prospectus Directive – Delegated Regulation

On April 15th 2014 Commission Delegated Regulation (EU) No. 382/2014 supplementing Directive 2003/71/EC with regard to regulatory technical standards for publication of supplements to prospectuses (the "Delegated Regulation") was published in the Official Journal of the European Union.

This Delegated Regulation specifies the minimum situations where the publication of a supplement is mandatory.

Some of the specified situations relate only to issuers of equity securities or issuers of underlying shares in case of depositary receipts, in particular:

1. where new annual audited financial statements are published;

2. where an amendment to a profit forecast or a profit estimate already included in the prospectus is published;