ZURICH, Sept 21 The Swiss SIX exchange said on
Friday it was investigating executive share transactions at
Weatherford , one of the world's largest oilfield
services companies, for possible breaches of disclosure rules.
SIX said the investigation concerned the late disclosure of
management transactions, and also the company's shareholder
communications regarding the intended creation of authorised
capital, rejected by shareholders in May.
SIX said it was also looking into the company's failure to
file the application for the listing of more than 70 million
registered shares, stemming from authorized capital, in due
A U.S.-based spokeswoman for Weatherford could not be
reached for comment.
James Crandell, analyst at Dahlman Rose and Co, said the
company believed the investigation was for administrative lapses
and that its management felt the issues were not material enough
to notify SIX.
"We believe that there will be a very minimal fine (if any)
imposed on Weatherford as a result of this," Crandell said in a
note to investors.
Shares of Weatherford closed 4.2 percent higher at $13.54 on