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Disclosure Policy

(Updated on 1 July 2016) In its communications, Orion Corporation (“Orion”) complies with valid legislation, the rules and insider guidelines of Nasdaq Helsinki Ltd, the regulations and guidelines of the Financial Supervisory Authority and the instructions and principles defined internally in the company. This disclosure policy has been approved by Orion’s Board of Directors.

Key principles and goals of communications

The key principles in Orion’s communications are openness, impartiality, reliability, simultaneousness and consistency.

The goal is to provide reliable, comprehensive, timely and comparable information about the company to stakeholders and present an image of Orion as a responsible and ethical company. Orion provides consistent communications both on positive and negative issues.

The goal of Orion’s communications to investors is to enable the correct valuation of the company’s share by providing the capital markets with accurate, sufficient and current information on Orion’s targets, operations, operating environment, strategy and financial situation.

Stock exchange releases

Disclosure of periodic information

Orion regularly publishes information on its financial position and results, i.e. it prepares and publishes financial reports pursuant to legislation and other regulations applicable to the company. Orion publishes information on its financial position according to a pre-announced schedule. The coming financial year’s publication dates are published in a stock exchange release before the end of the previous financial year. All reports are available on Orion’s website immediately after publication.

Disclosure of inside information

Orion shall, as soon as possible, publish all its decisions and all information on its activities which could have material influence on the value of the company’s shares or other financial instruments. The disclosure of inside information to the public can be delayed provided that certain conditions set by Market Abuse Regulation are met.

The purpose of the disclosure of inside information is to ensure equal, equitable and simultaneous access to information by investors.

Press releases

Press releases provide information about events related to Orion’s business operations, which are expected to have news value or otherwise be of general interest from the perspective of the media or the general public, but which do not meet the criteria of stock exchange release.

Information on research and development projects

Orion publishes information on its R&D projects mainly in its interim reports and/or press releases, but, as a main rule, provides information on the results of clinical Phase III trials in separate stock exchange releases. A press release on the results of Orion’s R&D projects can be published before the results of clinical Phase III. Such press releases can often be published in connection with medical conferences.

Investor meetings

Those responsible for investor relations regularly meet media representatives, investors and analysts in Finland and abroad. No new information about the company as an investment target is given at these meetings. Instead, discussions are based on information previously published by the company or that is otherwise generally available.

Silent period

Orion observes a silent period of three weeks prior to publishing its financial results. During this period, representatives of the company do not meet analysts, investors or the financial media and do not attend any events relating to the capital markets. During the silent period the company does not comment on the future outlook of the company or financial performance in the current or non-disclosed period.

Outlook estimate

Orion provides an outlook estimate for the current financial year.

Rumours and market estimates

As a rule, Orion does not comment on rumours, market estimates or analyst and media forecasts regarding the company and its development. However, if necessary, the company may consider publishing a release in order to provide the market with the correct information. If inside information is leaked to the public, Orion shall disclose the information as soon as possible.

Communications channels, and distribution and availability of releases

Language of reporting

Orion’s official language of reporting is Finnish. Orion also publishes all official releases in English.

Main channels of communications

Orion uses stock exchange releases and press releases as its main external channels of communications, and the company’s up-to-date website ( and

All of Orion’s published stock exchange releases and press releases can be found on the website. The website also has an archive of the stock exchange releases and press releases, interim reports and annual reports published over a minimum period of five years. All materials presented at the most important investor meetings are also available on the company's website.