Share price trend and return
The Addtech shares are listed on Nasdaq OMX Stockholm. Since their listing in September 2001 until 31 April 2017, the total return on the shares until 31 March 2017 has averaged 18 percent per year. The OMX Stockholm index on the Nasdaq OMX Stockholm Exchange increased by 6 percent in the corresponding period.
The Addtech share increased by 33 percent in value during the financial year. The OMX Stockholm index on the Nasdaq OMX Stockholm Exchange increased by 16 percent in the corresponding period. The highest price paid during the year was SEK 157.00 and was quoted on 2 February 2017. The lowest was SEK 95.25 on 16 June 2016. The final price paid before the end of the financial year was SEK 148.50, corresponding to a market value of SEK 9.6 billion (7.3).
During the period 1 April 2016 - 31 March 2017, 12 million (8) shares were traded with an aggregate value of approximately SEK 2 billion (1 billion). Relative to the average number of Class B shares outstanding, this is equivalent to a turnover rate of 18 percent (13). Broken down by trading day, an average of 45,716 (33,295) Addtech shares were traded at an average value of about SEK 6 million (4).
At 31 March 2017, Parent Company share capital stood at SEK 51,1 million, distributed over the following number of shares with a quotient value of SEK 0.75 per share.
|Class of shares||Number of shares||Number of votes||Percentage of capital||Percentage of votes|
|Class A shares, 10 votes per share||3,237,564||32,375,640||4.7||33.3|
|Class B shares, 1 vote per share||64,960,932||64,960,932||95.3||66.7|
|Total number of shares before repurchases||68,198,496||97,336,572||100.0||100.0|
|Of which repurchased class B shares||1,374,721||2.0||1.4|
|Total number of shares after repurchases||66,823,775|
Chapter 6, Section 2a of the Swedish Annual Accounts Act requires listed companies to disclose specific circumstances that may affect the prospects for acquiring the Company via a public share offer. In the event of the Company being delisted from Nasdaq OMX Stockholm or a party other than the present principal shareholder attaining an ownership holding exceeding 50 percent of the capital or votes, the granted credit line in terms of contractual credit facilities of SEK 400 million and overdraft facilities of SEK 1,100 million can be terminated.
Repurchase of treasury shares and incentive programmes
The Annual General Meeting in August 2016 authorised the Board of Directors to repurchase a maximum of ten percent of all shares in the Company during the period until the Annual General Meeting in 2017. During the financial year Addtech repurchased 300,000 of its own Class B shares. At year-end the number of treasury shares was 1,374,721 (1,240,000), with an average purchase price of SEK 81.17 (68.83). These shares correspond to 2.0 percent (1.8) of the number of shares issued and 1.4 percent (1.3) of the votes.
Addtech has four outstanding call option programmes for a total of 1,374,721 shares. Call options issued on repurchased shares entail a dilution effect of about 0.3 percent during the latest 12-month period. Addtech’s own shareholdings fully meet the needs of the outstanding call option programmes.
The Board intends to propose that the Annual General Meeting in August 2017 approve an incentive programme according to the same, or an essentially similar, model as decided at the 2009-2016 AGMs.
|Outstanding programme||Number of options||Corresponding number of shares||Proportion of total shares||Initial exercise price||Adjusted exercise price||Expiration period|
|2016/2020||300,000||300,000||0.4%||159.00||-||16 Sep 2019 - 5 Jun 2020|
|2015/2019||350,000||430,500||0.6%||154.50||125.10||17 Sep 2018 - 3 Jun 2019|
|2014/2018||350,000||430,500||0.6%||116.70||94.50||17 Sep 2017 - 1 Jun 2018|
|2013/2017||57,762||213,721||0.3%||106.13||85.90||19 Sep 2016 - 2 Jun 2017|