Odfjell SE Annual Report 2012

shareholder information
Odfjell’s aim is to provide a competitive long-term
return on investments to its shareholders. The Company
emphasises an investor-friendly dividend policy based
on financial performance, current capital expenditure
programmes and tax positions. The Company’s goal is
to provide semi-annual dividend payments. We comply
with the Code of Practice for reporting and information
advised by Oslo Børs.
SHARE PERFORMANCE
At the end of 2012 the Company’s A shares were trading at
NOK 24 (USD 4.29), down 33.3% from NOK 36 (USD 5.99)
at year-end 2011. The B shares were trading at NOK 22.7
(USD 4.06) at the end of 2012, down 35% from NOK 35 (USD
5.89) 12 months previously.
By way of comparison, the Oslo Stock Exchange benchmark
index increased by 15%, the marine index by 20% and the
transportation index by 29% during the year. The market
capitalisation of Odfjell was NOK 2,056 million (USD 368
million) as per 31 December 2012.
Given the poor 2012 results and the uncertainties in the
markets going forward, the Board does not recommend
payment of ordinary dividend for 2012.
TRADING VOLUMES
In 2012 about 20.4 million Odfjell shares were traded,
spread over 11.2 million A shares and 9.2 million B shares.
This represents about 24% of the issued and outstanding
shares. At year-end 2012 Odfjell had outstanding 65.7
million A shares and 21.1 million B shares.
SHAREHOLDERS
At the end of 2012 there were 1,295 holders of Odfjell A shares
and 534 holders of Odfjell B shares. Taking into account
shareholders owning both share classes, the total number
of shareholders was 1,534.
INVESTOR OWNERSHIP
57.1% of the Company’s A shares and 44% of the B shares
were held by international investors at the end of the year,
equivalent to 54% of the total share capital.
SHAREHOLDER PROGRAMME
At the end of 2012 the Odfjell Group did not own A shares
or B shares. Per 13 March 2013, Odfjell SE owns 5,891,166
A shares and 2,322,482 B shares as treasury shares.
The Extraordinary General Meeting on 2 October 2012
authorised the Board of Directors to acquire treasury
shares of up to 10% of the Company’s outstanding shares,
at a minimum price of NOK 2.5 (par value) and a maximum
price of NOK 250 per share. This authorization expires on
2 April 2014.
INVESTOR RELATIONS
Provision of accurate and timely information is of vital
importance in order to create credibility and confidence. Our
policy is to provide the market with all relevant information
in line with regulations and the recommendations
from Oslo Børs. We attach great importance to ensuring
that shareholders receive swift, relevant and correct
information about the Company. Our aim is to provide a
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shareprice developement versus transportation index
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Odfjell A share
Oslo Børs Benchmark Index
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Oslo Børs Transportation Index
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odfjell annual report 2012