Modern Times Group MTG AB is a Swedish public limited liability company. The Company’s governance is based on the Articles of Association, the Swedish Companies Act, the listing rules of Nasdaq OMX Stockholm, the Swedish Code of Corporate Governance, and other relevant Swedish and international laws and regulations.
The Company follows the Code in most aspects and only deviates from its recommendations in respect of the membership of the Remuneration Committee and the Chairmanship of the Nomination Committee, which are explained below.
Governance structure
Shares and shareholders The number of shareholders according to the share register held by Euroclear Sweden AB (Swedish Securities Centre) was approximately 21,000 at the end of 2008. The shares held by the ten largest shareholders corresponded to approximately 53% of the share capital and 82% of the voting rights. Swedish institutions and mutual funds own approximately 50% of the share capital, international investors own approximately 31% and Swedish private investors own approximately 19%.
The share capital consists of Class A, Class B and Class C shares. The holder of one Class A share is entitled to ten votes. Holders of Class B and Class C shares are entitled to one vote for each share. The Class A and B shares entitle the holder to the same proportion of assets and earnings and carry equal rights in terms of dividends. The holder of a Class C share is not entitled to dividends. For further information about the Company’s shares, see Directors’ Report.
Information regularly provided to shareholders includes interim reports and full year reports, Annual Reports and press releases on significant events occurring during the year. All reports, press releases and other information can be found on MTG’s website www.mtg.se