Annual Report 2003 - Modern Times Group MTG AB

The MTG share
On New Year’s Eve 1987, Industriförvaltnings AB Kinnevik launched TV3,
which was the first commercial television channel in Scandinavia. This
was the origin of today’s international media group, Modern Times
Group MTG AB. At Kinnevik’s Annual General Meeting on May 23, 1997,
it was decided that MTG would be demerged by means of the distribution
of MTG’s shares as a dividend to Kinnevik shareholders. MTG’s shares
were subsequently listed on the Stockholmsbörsen’s “SBI” list and the
Nasdaq National Market in New York on September 18, 1997. MTG shares
have been quoted on the Stockholmsbörsen O-list since May 3, 1999.
The chart below shows the changes in share price and trading volume
for the MTG B share since it was listed and began trading on
September 18, 1997, on the Stockholm Börsinformation (SBI) list through
April 1999 and on the Stockholmsbörsen O-list from May 3, 1999, and for
the MTG ADR on the Nasdaq National Market. The A and B shares are
500
400
300
200
100
0
1998 1999 2000 2001 2002 2003
50
40
30
20
10
0
1998 1999 2000 2001 2002 2003
the MTG share
traded under the symbols “MTGA” and “MTGB” on the
Stockholmsbörsen. The ADRs were volontarily deregistered from the
Nasdaq National Market on December 31, 2003. The chart has been
adjusted for the distribution of Metro International S.A. shares to MTG
shareholders on August 15, 2000. MTG’s market capitalization, based on
its stock price on the Stockholmsbörsen on December 31, 2003 was SEK
10.0 billion. No dividend is proposed for 2003.
* If all the options offered to senior executives and key employees were exercised,
the number of shares in the Company will increase by 2,052,840 B shares. 1,039,136
options have a strike price of SEK 294.50 and are exercisable at the earliest on May
4, 2004. 54,405 options have a strike-price of SEK 100 and are exercisable from
August 5, 2005. If the EUR 120 million convertible loan is fully exercised, the number
of B shares will increase by 2,790,994 shares in total. The conversion price is SEK
385.97 and the convertible bonds expire in June 2006.
Total A shares B shares Votes Capital
Invik & Co AB 6,181,249 6,181,249 0 30.0% 9.3%
Industriförvaltnings AB Kinnevik 3,753,762 3,529,637 224,125 17.2% 5.7%
Emesco AB 3,328,845 3,328,845 0 16.1% 5.0%
Stenbeck, Jan Hugo (estate) 1 526,000 1 526,000 0 7.4% 2.3%
SEB 4,702,721 0 4,702,721 2.3% 7.1%
AMF Pension 3,290 000 0 3,290 000 1,6% 5.0%
4th AP-fund 2,848,000 0 2,848,000 1,4% 4.3%
Robur 2,166,929 0 2,166,929 1,1% 3.3%
Stenbecks Stiftelse, Hugo 199,530 199,530 0 1,0% 0.3%
State Street bank and Trust Co 1,872,060 0 1,872,060 0.9% 2.8%
2nd AP-fund 1,831,816 0 1,831,816 0.9% 2.8%
Länsförsäkringar AB 572,023 133,496 438,527 0.9% 0.9%
3rd AP-fund 1,672,928 0 1,672,928 0.8% 2.5%
Fidelity 1,655,125 0 1,655,125 0.8% 2.5%
Skandia 1,625,623 0 1,625,623 0.8% 2.4%
Chase Manhattan Bank 1,481,437 4,950 1,476,487 0.7% 2.2%
Goldman Sachs 336,499 110,453 226,046 0.6% 0.5%
Morgan Stanley & Co 1,311 500 0 1,311,500 0.6% 2.0%
Von Horn Family 319,694 90 000 229,694 0.5% 0.5%
Nordea 459,175 47,250 411,925 0.4% 0.7%
Other 25,240,240 394,211 24,846,029 13.9% 38,0%
Total 66,375,156 15,545,621 50,829,535 100.0% 100.0%
MTG B share on Stockholmsbörsen
closing price SEK
MTG B
AFGX
MTG ADR on Nasdaq
closing price USD
MTG NY
S&P Index
35