FINANCIAL COMMUNICATION: FRAMEWORK AND PRACTICES - 2019 EDITION

67 PRODUCTION Examples of this type of press release might be the announcement of an industrial investment plan, a reorganisation or restructuring plan, the opening or closing of a production line or a production site. Points worth mentioning in such a press release include: a reminder of the strategic and market environment, the nature of the production, the locations concerned, the forecast calendar for the opening or closing of production facilities, the amount of investment or the cash and non-cash financial impact of the discontinuation of the business as well as any related impact on the issuer’s organisation and the personnel concerned. RESEARCH & DEVELOPMENT Relevant events include the filing, loss, launch, change or discontinued use of a brand name, licence or patent or, the launch or discontinuation of a product or service. In some sectors, such as health and biotechnology, companies should be particularly attentive regarding market disclosures on the progress of various phases of R&D projects and the results of tests and studies likely to be considered insider information. If a press release is disseminated, it shall mention the estimated impact on the business, the R&D or marketing expense, the calendar for the launch or discontinued use and, if relevant, the customers concerned. EMPLOYEE-RELATED EVENTS Restructuring plans or redundancies, strikes Should the issuer decide to disseminate a press release on one of these topics, the strategic, macroeconomic, competitive and social impact on the company can be mentioned as well as the factors having led to this type of decision, the number of employees and locations concerned, and the potential impact on cash or other aspects. It should be noted that, in all cases, any communication to the market of a restructuring plan must be coordinated with the information/consultation of the issuer’s employee representative bodies. Employee savings plans (PEE) Communication regarding an employee savings plan shall not be made unless such an event results in a material change, for example, in the employee shareholding in the issuer’s capital. Production: n VALLOUREC Strikes and social unrests: n AIR FRANCE - KLM n ALBIOMA