Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Hexagon    HEXA B   SE0000103699

HEXAGON (HEXA B)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Hexagon CEO's share trades were no crime, court hears

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/01/2017 | 12:51pm CET
Lead prosecutor Marianne Bender in Ola Rollen insider trading case trial arrives at the district court in Oslo

Hexagon (>> Hexagon) Chief Executive Ola Rollen did not commit insider share trading when he bought shares in Next Biometrics (>> Next Biometrics Group ASA) in 2015, the Swedish businessman's lawyer told a Norwegian court on Wednesday.

Hexagon (>> Hexagon) Chief Executive Ola Rollen did not commit insider share trading when he bought shares in Next Biometrics (>> Next Biometrics Group ASA) in 2015, the Swedish businessman's lawyer told a Norwegian court on Wednesday.

Rollen, one of Sweden's best known business leaders, went on trial this week in Oslo for alleged insider share trading related to a 2015 investment in Norway's Next Biometrics. The transaction did not involve Hexagon itself.

Rollen, who denies wrongdoing, faces up to six years in prison if found guilty.

The case follows a string of scandals among leading companies in Sweden involving alleged bribery, offshore tax havens and the misuse of corporate money that have tarnished the country's clean image.

On Wednesday, defence lawyer Christian B. Hjort said his client did not possess privileged information about Next Biometrics at the time of the share purchase and that the transactions were motivated by his own independent analysis of the company whose products include fingerprint sensors.

"His plans to buy shares in Next was not insider share trading according to the law," Hjort told the court, in his first remarks to address the prosecution's opening statement.

"It is not an abuse when the investment is made according to his own plans ... What is against the law is when you trade in the market based on other people's plans."

A purchase of some 284,000 shares in Next Biometrics on Oct. 6 and 7, 2015, made by Rollen's partly-owned investment firm Iskossala, amounted to illegal insider trading, police said, as Iskossala was also involved in negotiations with Next to take a larger stake at a higher price.

When a cash infusion was announced a few days later, Next's shares surged 83 percent.

Hjort argued the shares jumped because of Rollen's investments and his strong standing among Swedish retail investors, who started to buy when they saw his move.

"Without Rollen there would be no rise in the share price. It was created by his own investment. That's why there is no abuse of insider information," said Hjort.

On Monday, the prosecution played an audio tape of Rollen discussing with a broker buying Next Biometrics shares via Iskossala and also discussing the potential rights issue.

In charge of Hexagon since 2000, Rollen discarded its old businesses and turned the company into a force in measurement technology and related software, making it one of Sweden's biggest firms worth $17 billion (£12.7 billion).

The trial continues.

(Writing by Gwladys Fouche; Editing by Keith Weir)

By Ole Petter Skonnord

Stocks treated in this article : Hexagon, Melker Schorling AB, Next Biometrics Group ASA
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on HEXAGON
11/15 GEOSPATIAL : Huawei and Hexagon Geospatial Showcase Geospatial Solutions at Smar..
11/14 HUAWEI AND HEXAGON GEOSPATIAL SHOWCA : Smart Water and Smart Infrastructure Solu..
11/14 HEXAGON : Showcases Digital, Safe and Connected Solutions at Smart City Expo Wor..
11/11 HEXAGON : NovAtel partners with Esterline on aviation GNSS receiver
11/01 HEXAGON : PPM releases CADWorx Structure 2018 with new capabilities and enhancem..
11/01 Hexagon CEO's share trades were no crime, court hears
10/30 Hexagon's CEO pleads not guilty at Norway insider trading trial
10/27 HEXAGON : Interim Report 1 January - 30 September 2017
10/27 HEXAGON : Interim Report 1 January - 30 September 2017
10/27 HEXAGON : CFO and EVP to act as CEO during periods of Ola Rollén's unavailabilit..
More news
News from SeekingAlpha
10/27 Hexagon AB reports Q3 results
07/27 Hexagon AB reports Q2 results
06/21 A Refocused FARO Is Looking To Drive Better Results From Its Strong Metrology..
05/30 TRIMBLE : Robotics Play
05/11 Perceptron Still Searching For Stability
Financials (€)
Sales 2017 3 416 M
EBIT 2017 785 M
Net income 2017 586 M
Debt 2017 1 941 M
Yield 2017 1,20%
P/E ratio 2017 25,82
P/E ratio 2018 21,75
EV / Sales 2017 4,84x
EV / Sales 2018 4,43x
Capitalization 14 607 M
Chart HEXAGON
Duration : Period :
Hexagon Technical Analysis Chart | HEXA B | SE0000103699 | 4-Traders
Technical analysis trends HEXAGON
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 45,4 €
Spread / Average Target 6,5%
EPS Revisions
Managers
NameTitle
Ola Rollén President, Chief Executive Officer & Director
Gun Elice Nilsson Chairman
Robert Mirsad Belkic Chief Financial Officer & Executive Vice President
Claudio Simão Chief Technology Officer
Ulrika Margareta Heléne Francke Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
HEXAGON26.97%17 246
MICROSOFT CORPORATION33.54%641 854
RED HAT INC77.65%22 407
MICRO FOCUS INTERNATIONAL PLC24.00%15 486
SYNOPSYS, INC.48.88%13 378
CITRIX SYSTEMS18.29%12 904