This article explains how to create and document a protracted process in Logwise.

When should I use Protracted Process?

Use Protracted Process when the inside information relates to intermediate steps in a protracted process that has not yet concluded. The disclosure obligation is generally triggered by the final event or final circumstance of the process.

Examples may include:

• ongoing negotiations,
  

• mergers and acquisitions,
  

• strategic business discussions,

• preparation or provision of financial information,

• other processes where a final event or final circumstance will determine when disclosure is required.

Create a new protracted process

1. Go to Create project.

2. Select Inside information.

3. Under Disclosure option, select Protracted process.

4. Continue through the guide.

5. Complete the protracted process documentation.

6. Review and save the project.
   

Select the protracted process

Logwise includes predefined protracted processes and final events based on the Listing Act amendments to MAR on protracted processes.

When completing the documentation, select the option that best matches the process.

If none of the predefined options are suitable, use Custom protracted process and describe the process and final event manually.

Protracted Process Documentation

The protracted process documentation is added to the insider list and can easily be accessed in the documents section.

Documenting a Protracted Process for an existing insider list

If you have already created an insider list and later determine that the matter should be documented as a protracted process, you can add protracted process documentation to the existing list.

Open the insider list, go to the documents section or project menu, and choose the option to add protracted process documentation.

Add delayed disclosure documentation later

When a protracted process reaches its final event the inside information becomes subject to immediate disclosure obligations. However there may be situations where disclosing the information would jeopardise the legitimate interests of the Issuer and delay of disclosure is allowed. This option is available through the three-dot menu.

This preserves the existing list of insiders, audit trail, acknowledgements and documentation.

Regulatory Notifications for Protracted processes

For intermediate steps in a protracted process, notification requirements to the competent authority do not apply in the same way as they do for delayed disclosure, there is no general obligation to inform the National Competent Authority. When you close a project or complete the relevant documentation, Logwise helps you distinguish between situations where the competent authority should be notified and situations where notification may not be required. However, the issuer is still responsible for assessing its notification obligations in each specific case.

The system suggests a default notification option based on the documentation connected to the insider list.