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 2009, was SEK 23.5 billion.
Shareholder’s as at 31 December 2009
| Name |
Total |
Class A Shares |
Class B Shares |
Capital |
Votes |
| Investment AB Kinnevik |
13,503,856 |
5,820,491 |
7,683,365 |
20.20% |
48.00% |
| Capital Group Funds |
3,361,500 |
0 |
3,361,500 |
5.00% |
2.40% |
| Swedbank Robur Funds |
3,110,790 |
0 |
3,110,790 |
4.70% |
2.30% |
| AMF Pension Funds |
2,610,751 |
0 |
2,610,751 |
3.90% |
1.90% |
| SHB Funds |
1,841,419 |
0 |
1,841,419 |
2.80% |
1.30% |
| Nordea Funds |
1,766,124 |
0 |
1,766,124 |
2.60% |
1.30% |
| SEB Funds |
1,720,229 |
0 |
1,720,229 |
2.60% |
1.30% |
| Lannebo Funds |
1,503,350 |
0 |
1,503,350 |
2.30% |
1.10% |
| Fidelity Funds |
1,043,853 |
0 |
1,043,583 |
1.60% |
0.80% |
| Second AP Fund |
1,022,475 |
0 |
1,022,475 |
1.50% |
0.70% |
| Anima Regni LP |
1,012,882 |
1,012,882 |
0 |
1.50% |
7.40% |
| Government of Norway |
977,685 |
0 |
977,685 |
1.50% |
0.70% |
| Fourth AP Fund |
859,046 |
0 |
859,046 |
1.30% |
0.60% |
| Skandia Liv |
771,754 |
109,471 |
662,283 |
1.20% |
1.30% |
| Länsförsäkringar Funds |
518,570 |
0 |
518,570 |
0.80% |
0.40% |
| Others |
30,272,531 |
987,857 |
29,284,674 |
46.50% |
28.50% |
| Total outstanding shares |
65,896,815 |
7,930,701 |
57,966,114 |
100.00% |
100.00% |
| Class C shares held by MTG |
850,000 |
|
|
|
|
| Total shares issued |
66,746,815 |
|
|
|
|
Source: Euroclear Sweden AB
| Share distribution |
Number of shareholders |
% |
Number of shares |
% |
| 1 – 1,000 |
19,192 |
91.8 |
3,783,458 |
5.7 |
| 1,001 – 5,000 |
1,218 |
5.8 |
2,603,411 |
4.0 |
| 5,001 – 10,000 |
142 |
0.7 |
1,018,507 |
1.6 |
| 10,001 – 50,000 |
198 |
0.9 |
4,623,034 |
7.0 |
| 50,001 – 100,000 |
47 |
0.2 |
3,256,993 |
4.9 |
| 100,001 – 15,000,000 |
121 |
0.6 |
50,611,412 |
76.8 |
| Total 31 December 2009 |
20,918 |
100 |
65,896,815 |
100 |
Share capital
As at 31 December 2009, the total number of issues shares amounted to 66,746,815, of which 7,930,701 were Class A shares, 57,966,114 were Class B shares, and 850,000 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 and 2009 as part of the MTG performance based incentive plan approved by the Annual General Meeting in 2008 and 2009.
The Group’s share capital amounted to SEK 334 million at the end of the year. For changes in the share capital between 2008 and 2009, please see the report Consolidated statement of changes in equity.
Dividends
The parent company paid an ordinary dividend of SEK 5.00 per share to shareholders in 2009, amounting to a total payment of SEK 329 million.
Share buy-back
A total of 1,517,000 Class B shares were repurchased during 2008 and 2007 and cancelled in 2008. The 2009 Annual General Meetings approved a mandate to authorise the Board of Directors to buy back MTG Class A and Class B shares up until the 2010 Annual General Meeting. The Group’s shareholding in its own stock may not exceed 10 per cent of the total number of issued shares. No Class A shares or Class B shares were bought back during 2009. 480,000 Class C shares were issued and repurchased in 2008, and 370,000 Class C shares in 2009. The quota value is SEK 5.00, and the total consideration was SEK 2 million in 2009 and 2008 respectively. The share of total share capital represented 0.6 per cent and 0.7 per cent for the two respective years. The Class C 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 2009 and 2008 long term incentive plans. The purpose of the Class C shares 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 Meetings in 2010 and 2011 respectively.
Reclassifications
In accordance with the Articles of Association, and the Extra General Meeting in 2009, the Board of Directors approved the reclassification of a total of 150,242 MTG Class A shares into MTG Class B shares in 2008 and of 7,160,725 Class A shares into Class B shares in 2009. 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. The holder of a Class A share are entitled to 10 votes, the holder of a Class B share one vote and a Class C share one vote. The Class C shares are not entitled to dividend payments. The total number of voting rights are therefore 138,123,124 as per 31 December 2009.
Share-based long-term incentive plans
If all options granted to senior executives and key employees as at 31 December 2009 were exercised, the issued share capital of the Company would increase by 1,130,159 Class B shares, and be equivalent to a dilution of 1.7% of the issued capital and 0.8% of the related voting rights as at the end of 2009.
The outstanding 38,392 stock options from the 2005 programme have a strike price of SEK 235.80, and are exercisable until 10 October 2010. The remaining 273,969 outstanding options from the 2006 programme have an exercise price of SEK 413.30 for the stock options, and are exercisable from 15 May 2009. The remaining 296,155 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 254,700 performance options granted in the 2008 programme have an exercise price of SEK 498.10 and the 138,700 retention and performance rights entitle holders to one free Class B share per right. The 239,490 retention and performance shares granted in the 2009 programme entitle holders to one Class B share per share, free of charge. Further details about the programmes can be found in Note 25.
Share performance
