Shares.

Key figures for shares

Semcon´s share capital is SEK 18 112 534, divided between 18 112 534 shares, each with a nominal value of SEK 1. All shares confer an equal right to a share of the company´s assets and profits. Each share gives the entitlement to one vote.

* Board of Director’s proposal

2015-2017 refers to continuing operations after the divestment of Business Area Engineering Services Germany.

Share Saving Program

Semcon has three long-term performance-based share savings schemes for senior executives and key employees in the Semcon Group (“Performance-based share savings scheme 2015”, “Performance-based share savings scheme 2017” and “Performance-based share savings scheme 2018”).

Read more about Semcon’s share saving program in the Annual Report 2018, note 9 on page 67.

Acquisition and transfer of own shares

The AGM decided in accordance with the Board’s proposal to authorise the Board up to the time of the next AGM on one or more occasions to decide on the acquisition of ordinary shares in the company on the following conditions:

Background and reasons for the proposal, etc.

The reason for the proposal, and the reason for deviating from preferential rights for existing shareholders, is that the Board wishes to create cost-efficient and flexible opportunities to: (i) improve the company’s capital structure and thereby increase share value and (ii) to make payments for acquisitions of companies or businesses or parts thereof. Against this background, a decision in accordance with the proposal is judged to be beneficial for the shareholders.

Decision to authorise the Board to decide on the acquisition of own shares

Against the background of the statements above, the AGM decided in accordance with the Board’s proposal that the AGM authorize the Board up to the time of the next AGM on one or more occasions to decide on the acquisition of ordinary shares in the company on the following conditions:

• Purchases are only to be made to (i) improve the company’s capital structure and (ii) to enable use of ordinary shares as liquidity in making payments for acquisition of companies or businesses or parts thereof.
• Purchases may only be made on Nasdaq Stockholm or through purchase offers directed to all owners of ordinary shares in the company.
• Purchases of ordinary shares in the company on each occasion are to represent a maximum of 10 per cent of all shares in the company following the purchase.
• Purchases on Nasdaq Stockholm shall be at a price per share within the current share price range for ordinary shares, or in the event that the Board assigns a stock exchange member to accumulate a specific amount of the company’s shares in their own account for a specific period, at a price per share within a specified price range for the period or equivalent volume-weighted average share price, and purchases linked with an acquisition offer are to be made at a maximum price per share equivalent to the market price of the ordinary share in the company at the date of the offer plus an additional amount of not more than 20 per cent.
• Payment for ordinary shares shall be made in cash.
• The appropriate terms in the listing agreement with Nasdaq Stockholm shall be observed for purchases.
• The Board has the right to set other conditions for purchases

In connection with the proposal, the Board has made a statement in accordance with Chapter 19 Section 22 of the Swedish Companies Act. Against the background of the statements above, the AGM decided in accordance with the Board’s proposal that the AGM authorize the Board up to the time of the next AGM, on one or more occasions, with deviation from shareholders’ preferential rights, to decide on the transfer of ordinary shares in the company on the following conditions:

• Transfers may only be made to use ordinary shares as liquidity for acquisition of companies or businesses or parts thereof.
• Transfers on each occasion may be for the total number of ordinary shares owned by the company.
• Transfers are to be made at a price corresponding to the ordinary share’s assessed market value in connection with transfer.
• Payment for ordinary shares is to be in capital contributed in kind.
• The Board has the right to set other conditions for transferring shares.

Dividend

According to Semcon’s financial objectives the share dividend from a long-term perspective should be at least one-third of the profit after tax.

The AGM decided in accordance with the Board’s proposal a share dividend of SEK 3.00 per share (3.50), which makes up for 57 per cent of EPS after dilution for continuing operations. Dividend amounts to SEK 52.3 million (61.9). The record day for the right to share dividend was on 26 April 2019 and payment was made on 2 May 2019.