Ardente becomes a Certified Adviser of the Alternative Market First North

23.08.2010 RIG

Riga, August 23, 2010 – NASDAQ OMX Riga informs that as of today, consultancy firm Ardente has been approved a Certified Adviser of the alternative market First North in Latvia.

First North gives growth companies ease of access to equity capital and greater visibility in the Baltic financial markets. The companies admitted to trading on First North are given the same possibilities as companies listed on a regulated market, but the rules are more simple and the regulations are lighter.

A company is required to have Certified Adviser in order to get their shares admitted to trading on the alternative market. Certified Advisers have a role of supporting the company in complying with the disclosure requirements or other market rules, so that investors have sufficient amount of information in order to take high quality investment decisions. Also, an Adviser has an obligation to inform the stock exchange, without delay, in case the company has failed to comply with the market rules.

As of today, four Certified Advisers are offering their services in Latvia: Ardente, Eventus Corporate Finance, SEB Enskilda, Advante Corporate Finance. Altogether 16 Certified Advisers are operating in First North in the Baltic countries.

Liene Dubava, NASDAQ OMX Riga Management Board Member, points out: „Given the current business environment when companies find it hard to raise growth capital via the banking sector, public securities market is a worthy alternative. I am convinced that the growing community of professional advisers will enable Latvian companies to make use of the stock exchange potential for developing their particular company and economy in general. I hope that a new Certified Adviser to First North is a signal that new companies might seek for admittance to the marketplace”.

?irts Aps?tis, Chairman of Management Board, Ardente, says: „I believe that right now, when our economy is bottoming out, it is excellent timing for companies to start using the public market for capital-raising. The alternative market operated by the exchange is a non-sophisticated yet efficient instrument that gives Latvian medium-size growth companies access to funds via stock market. I am positive that our years-long experience and competency, combined with the opportunities offered by the stock exchange, will help the companies to attain their goals.

About Ardente

Ardente is a consultancy firm providing advice about exercising shareholder rights and organizing general meetings of shareholders, with the largest joint stock companies in Latvia and their shareholders among the customers. Making use of the expertise accumulated during a number of years, Ardente also provides efficient solutions for company management restructuring.

About First North

First North is an alternative marketplace operated by NASDAQ OMX Nordic and Baltic stock exchanges. Alternative market does no have the same legal status as a regulated market in the EU. Companies traded on First North have to follow the rules of First North instead of the requirements for a regulated market. In the Nordic countries, as many as 123 companies are already traded on First North.

About NASDAQ OMX

The NASDAQ OMX Group, Inc. is the world’s largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries.  NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com. Please follow NASDAQ OMX on Facebook (http://www.facebook.com/pages/NASDAQ-OMX/108167527653) and Twitter (http://www.twitter.com/nasdaqomx).

Media Contacts:

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