Annual Report 2012/13 - Clas Ohlson

One of Sweden's largest
Annual General Meetings
Clas Ohlson B shares are listed on the Nasdaq OMX Nordic Exchange Stockholm
and have been listed on the Stockholm Stock Exchange since 1999. The issue price
was SEK 106 which, following the split (4:1) in October 2001 and an additional split
(2:1) in October 2004, now corresponds to SEK 13.25.
During the financial year, extending from 12 May 2012 to 30 April 2013, the share
price declined from SEK 99 to SEK 87 kronor, down 12 per cent. The Affärsvärlden
General Index rose 13 per cent during the same period. During the period, the
lowest price paid was SEK 81.25, quoted in November 2012, while the highest price
paid was SEK 106.00, recorded in August 2012.
Share turnover
During the period, 16,304,343 Clas Ohlson shares were
traded on the Stockholm Stock Exchange, representing a
turnover rate of 26 per cent. The total turnover rate on the
Nasdaq OMX Stockholm during the same period was 70
per cent.
On 30 April 2013, Clas Ohlson’s total market capitalisation
was SEK 5.7 billion.
Share capital
The share capital of Clas Ohlson totals SEK 82 M, comprising
5,760,000 A shares and 59,840,000 B shares, each
with a quotient value of 1.25. Each A share carries ten
votes, while each B share carries one vote. All shares carry
equal rights to payment of dividends. Holders of A shares
can request that their A shares be converted to B shares.
Treasury shares
The number of registered shares amounts to 65,600,000,
which remains unchanged compared with the preceding
year. On 30 April 2013, the company held 2,312,192
shares (1,985,000), corresponding to 4 per cent of the
total number of registered shares (3 per cent). At the end
of the period, the number of shares outstanding, net after
repurchase, was 63,287,808.
To safeguard the company’s commitment regarding
conditional matching shares and employee stock options
in connection with LTI 2012 (see more on page 69), Clas
Ohlson repurchased 366,000 shares during the first quarter
of the 2012/13 financial year for a total of SEK 36 M at an
average price of approximately SEK 99 per share.
Shareholders
On 30 April 2013, the company had a total of 26,449
shareholders, according to the register of shareholders
maintained by Euroclear Sweden, compared with 27,462
on 30 April 2012. The ten largest shareholders at that time
held 59 per cent of the capital and 77 per cent of the votes.
Non-Swedish shareholders accounted for 30 per cent of
the capital and 31 per cent of the votes. Swedish institutions
accounted for 34 per cent of the capital and 19 per
cent of the votes. Swedish private individuals accounted for
36 per cent of the capital and 50 per cent of the votes.
Dividend policy and dividend
Clas Ohlson’s dividend policy is justified as follows:
The dividend is to comprise at least 50 per cent of earnings
per share after tax, with consideration for the financial
position.The previous dividend policy required that the dividend
ratio correspond to approximately 50 per cent of the
profit after tax, and that surplus liquidity, if any, be distributed.
The Board of Directors proposes that a dividend of SEK
4.25 per share (4.25) be paid for 2012/13. The proposed
dividend amounts to a total of SEK 279 M (279), corresponding
to 84 per cent (70) of the financial year’s net profit.
Shareholder information
Since Clas Ohlson is intent on keeping the market continuously
informed of its sales figures, these figures are reported
as often as once a month. The information is issued in
a press release mid-way through the following month. Clas
Ohlson’s financial results are presented four times a year, at
the end of each quarter. The company distributes a printed
annual report by post to all shareholders who so request
and also regularly sends interim reports to those who express
an interest in receiving them. The interim reports can
be delivered by e-mail or in a printed version by post, as
requested. The company’s Annual General Meeting is also
one of Sweden’s most popular AGMs.
All financial information regarding Clas Ohlson is available
on the company’s website: http://about.clasohlson.com.
Press releases and reports are presented there as soon as
they are published. The website contains all of the press
releases, interim reports and annual reports published by
the company since its initial listing on the stock exchange in
October 1999.
Analysts’ presentations held by the company around the
time of the publication of its interim report are also available
on the website.
Included in Sustainability Index
On 3 December 2012, Clas Ohlson was included in the
NASDAQ OMX Sustainability Index, which serves as a
guide for sustainable investments. The index is calculated
and compiled by NASDAQ OMX in collaboration with GES
Investment Services and includes listed companies that are
leaders in terms of sustainability.
Shares and shareholders 45