AFM follows CONSOB’s short sell measure concerning Saipem


The AFM announces that it has implemented a measure on the basis of Article 23 of the European Short Selling Regulation in order to temporarily prohibit short selling in shares Saipem. The AFM is implementing this measure because the price of Saipem decreased significantly on a trading platform in a single trading day when compared with the closing price of the previous trading day.

This was done pursuant to the announcement of CONSOB dated 17 June 2013 concerning Saipem.

1. Scope

a) Financial instrument(s) concerned: Saipem shares (ISIN code: IT0000068525)
b) Trading venue concerned: NYSE Arca Europe

2. Nature of the emergency measure

Short sale prohibition
Who is concerned: every natural person and legal entity.

3. Reasons for the measure

Following CONSOB’s short sell measure.

4. Exemptions to the measure

Marketing activities, as determined in Article 2(1)(k) of the Short Selling Regulation.

5. Entering into force of the measure and duration

Date: 17 June 2013
Duration: until the end of 18 June 2013

The AFM is committed to promoting fair and transparent financial markets.

As an independent market conduct authority, we contribute to a sustainable financial system and prosperity in the Netherlands.

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