MTG’s shares are listed on Nasdaq OMX Stockholm’s Large Cap list under the symbols ‘MTGA’ and MTGB’. MTG’s market capitalisation, as at the close of the trading on Nasdaq OMX Stockholm on the last business day of 2008, was SEK 11.6 billion.
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| Name |
Total |
Class A shares |
Class B Shares |
Capital |
Votes |
| Investment AB Kinnevik |
9,935,011 |
9,605,257 |
329,754 |
15.1% |
47.8% |
| Swedbank Robur Funds |
4,319,186 |
0 |
4,319,186 |
6.6% |
2.1% |
| Emesco AB |
3,568,845 |
3,328,845 |
240,000 |
5.4% |
16.6% |
| Handelsbanken |
3,087,109 |
230 |
3,086,879 |
4.7% |
1.5% |
| AMF Pension |
2,944,041 |
0 |
2,944,041 |
4.5% |
1.5% |
| Nordea Funds |
2,916,781 |
0 |
2,916,781 |
4.4% |
1.4% |
| SEB Funds |
2,909,662 |
300 |
2,909,362 |
4.4% |
1.4% |
| State Street Bank |
2,090,993 |
0 |
2,090,993 |
3.2% |
1.0% |
| JP Morgan |
1,541,048 |
0 |
1,541,048 |
2.3% |
0.8% |
| Stenbeck, Jan Hugo (estate) |
1,526,000 |
1,526,000 |
0 |
2.3% |
7.6% |
| Second AP Fund |
1,445,549 |
0 |
1,445,549 |
2.2% |
0.7% |
| DNB Nor |
1,174,729 |
0 |
1,174,729 |
1.8% |
0.6% |
| Credit Suisse |
1,123,502 |
0 |
1,123,502 |
1.7% |
0.6% |
| Skandia Liv AB |
841,316 |
107530 |
733786 |
1.3% |
0.9% |
| Others |
26,466,603 |
523,264 |
25,943,339 |
40.2% |
15.5% |
| Total outstanding shares |
65,890,375 |
15,091,426 |
50,798,949 |
100% |
100% |
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| Shares held by Modern Times Group MTG AB Class C shares |
480,000 |
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| Total shares issued |
66,370,375 |
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| Source: Euroclear Sweden AB |
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| Share distribution |
Number of shareholders |
% |
Number of shares |
% |
| 1 - 1000 |
19,280 |
90.9 |
3,813,310 |
5.8 |
| 1001 - 5000 |
1,398 |
6.6 |
2,982,174 |
4.5 |
| 5001 - 10000 |
155 |
0.7 |
1,116,570 |
1.7 |
| 10001 - 50000 |
226 |
1.1 |
5,016,230 |
7.6 |
| 50001 - 100000 |
43 |
0.2 |
3,135,420 |
4.8 |
| 100001 - 40000000 |
116 |
0.5 |
49,826,671 |
75.6 |
| Total 31 December 2008 |
21,218 |
100.0 |
65,890,375 |
100 |
Share capital As at 31 December 2008, the total number of shares issued was 66,370,375, of which 15,091,426 were Class A shares, 50,798,949 were Class B shares, and 480,000 were Class C shares. The Class C shares are held by the Company. Each Class A share is entitled to ten votes. Each Class B and each C share is entitled to one vote. The Class C shares are not entitled to dividend payments. The Class C shares were issued and repurchased in 2008 as part of the MTG performance based incentive plan approved by the Annual General Meeting in 2008.
The Group’s share capital amounted to SEK 332 million at the end of the year. For changes in the share capital between 2007 and 2008, please see the report on Changes in consolidated equity.
Dividends The parent company paid an ordinary dividend of SEK 5.00 per share and an extraordinary dividend of SEK 10.00 per share to shareholders in 2008, amounting to a total payment of SEK 983 million.
Share buy-back The 2007 Annual General Meeting authorised a share buy-back of Class A and Class B shares up until the 2008 Annual General Meeting and 798,000 Class B shares were repurchased during 2008. Following the decision at the Annual General Meeting in 2008, a total of 1,517,000 Class B shares repurchased since the Annual General Meeting in 2007 were cancelled in July, which represented 2.3% of the Group’s total issued shares at the time of the Annual General Meeting. The Group’s shareholding in its own stock may not exceed 10 per cent of the total number of issued shares. The 2008 Annual General Meeting approved to authorise the Board of Directors to buy back its Class A and Class B shares up until the 2009 Annual General Meeting. No shares were bought back during the period between the resolution and year-end 2008. 480,000 Class C shares were issued and repurchased in 2008. The shares are redeemable and, upon the decision of the Board of Directors, may be reclassified into Class B shares. The Class C shares will be held by the Company as treasury shares during the vesting period for the 2008 share option plan. The intention is to hedge the social security costs related to the scheme by selling the reclassified shares on Nasdaq OMX Stockholm. The proposal to sell shares for this purpose will be put before the Annual General Meeting in 2010.
Reclassifications In accordance with the resolution of the MTG 2007 Annual General Meeting the Board of Directors approved reclassification of a total of 150,242 MTG Class A shares into MTG Class B shares. The 2008 Annual General Meeting also decided upon a reduction of the company’s equity reserves by SEK 523 million from SEK 523 million. The Swedish Company Registration Office registered the decision and granted the leave in August 2008.
Share-based long-term incentive plans If all options granted to senior executives and key employees as at 31 December 2008 were exercised, the issued share capital of the Company would increase by 1,049,807 Class B shares, and be equivalent to a dilution of 1.6% of the issued capital and 0.5% of the related voting rights as at the end of 2008.
The outstanding 44,832 stock options from the 2005 programme have a strike price of SEK 235.80, and are exercisable until 10 October 2009. The remaining 281,769 outstanding options from the 2006 programme have an exercise price of SEK 413.30 for the stock options and SEK 417.70 for the warrants, and are exercisable from 15 May 2009. The remaining 327,355 options granted under the 2007 programme have an exercise price of SEK 432.50 for the stock options and the warrants, and are exercisable from 15 May 2010. The 256,275 performance options granted in the 2008 programme have an exercise price of SEK 498.10 and the 139,577 retention and performance rights entitle holders to one free Class B share per right. Further details about the programmes can be found in note 25.
