Final Version 23 April 2007
address: code_of_conduct@elia.be3. All grants or refusals of authorization shall be communicated by e-mail4. The Secretary General shall maintain a written record of (i) any request for authorization received; (ii) any authorization given or refused; and (iii) any notification of a Trade which took place (including his own requests for authorization). Based on information received regarding Trades effectuated, the Secretary General will draw up once a year, around 15 January, a list with regard to the preceding year including the amount of the Company Financial Instruments Traded by each Person having Management Responsibilities and by each Member of Key Personnel. This annual list will be communicated by the Secretary General to the Executive Committee during the month of February of each year. The Executive Committee will, on an annual basis, report to the Company’s compensation committee the amount of the Company Financial Instruments Traded by Persons having Management Responsibilities and by Key Personnel. By way of derogation from the duty to request and obtain authorization prior to any Trade, a Person having Management Responsibilities or a Member of Key Personnel shall not be required to request prior authorization if he/she Trades as a consequence of the exercise, by a third party, of its rights vis-à -vis such Person having Management Responsibilities or Member of Key Personnel to either acquire any Financial Instruments pursuant to a call option previously granted by such Person having Management Responsibilities or Member of Key Personnel to such third party, or to dispose of any Financial Instruments pursuant to a put option previously granted by such Person having Management Responsibilities or Member of Key Personnel of the Elia Group to such third party. On the basis of the notifications of Trades executed, the total amount of Trades for the preceding financial year shall be made public and reported in the annual report of the Company.
Section IV . REFUSAL TO GRANT AUTHORIZATION Authorization to Trade may not be granted during the following periods: (a) during any of the following periods ( "Closed Periods"): (i)
the period of four (4) weeks immediately preceding the preliminary announcement of
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Or, if the applicant does not possess e-mail, by fax with delivery receipt, sent to 02/546.71.60. 4 Or, if the applicant does not possess e-mail, by fax with delivery receipt.
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