Shares and shareholders

Shares

HKScan Group’s registered and fully paid-up share capital at the beginning and end of 2016 was EUR 66 820 528. The total number of shares issued was 55 026 522, and it was divided into two share series as follows: A Shares, 49 626 522 (90.19% of the total number of shares) and K Shares 5 400 000 (9.81%). The A Shares are quoted on the Nasdaq Helsinki Ltd. The K Shares are held by LSO Osuuskunta (4 735 000 shares) and Lantmännen ek.för. (665 000 shares) and are not listed.

According to the Articles of Association, each A Share conveys one vote, and each K Share 20 votes. Each share gives equal entitlement to a dividend. The shares have no nominal value.

HKScan’s market capitalization at the end of the year stood at EUR 172.3 (205.6) million based on the closing price of the last trading day of the period. The Series A shares had a market value of EUR 155.1 (185.1) million, and the unlisted Series K shares EUR 17.2 (20.6) million correspondingly.

In 2016, a total of 13 313 324 of the company’s shares, with a total value of EUR 42 427 708, were traded. The highest price quoted was EUR 3.89 and the lowest EUR 2.89. The average price was EUR 3.18. At the end of 2016, the closing price was EUR 3.19.

Shareholders

At the end of 2016, the shareholder register maintained by Euroclear Finland Ltd included 13 226 (12 558) shareholders. Nominee-registered and foreign shareholders held 12.6 (24.9) per cent of the company's shares.

Notifications of changes in holdings

On 21 December 2016, Sveriges Djurbönder ek. för notified that the total amount of HKScan Corporation shares owned by them had decreased below the threshold of ten (10) per cent and the share of voting rights had decreased below five (5) per cent. On 21 December 2016, Sveriges Djurbönder owned 3 615 000 HKScan A-shares and 0 K-shares, and 3 615 000 voting rights.

On 21 December 2016, Lantmännen ek. för notified that the total amount of HKScan Corporation shares owned by them had exceeded the threshold of five (5) per cent and the share of voting rights had exceeded the threshold of ten (10) per cent. On 21 December 2016, Lantmännen owned 2 619 750 HKScan A-shares and 665 000 K-shares, and in total 15 919 750 voting rights.

Treasury shares

At the beginning the financial year 2016, HKScan held 1 053 734 treasury A shares. On 8 April 2016, in total 44 885 treasury shares were gratuitous transferred to the participants of the share based incentive plan 2013 according to its terms.

At the end of 2016 the Group had 1 008 849 treasury A shares, and they had a market value of EUR 3.2 million and accounted for 1.83% of all shares and 0.64% of all votes.

Share-based incentive scheme

Incentive plan 2016 for the Group key personnel was published the stock exchange release dated on 18 December 2015. The plan covers one performance period, year 2016. The potential reward from the performance period will be based on the HKScan Group’s Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Earnings per Share (EPS).

Rewards from the performance period will be paid partly in the Company’s A series shares and partly in cash as follows: 50 per cent pay-out in 2017 and 50 per cent pay out in 2018. The cash proportion is intended to cover taxes and tax-related costs arising from the rewards to the key personnel. No reward will be paid, if the key employee’s employment or service ends before reward payment. The plan was preliminary directed to 37 people. The rewards to be paid on basis of the performance period are a maximum approximate total of 366 000 HKScan Corporation series A shares and cash payment corresponding to the value of such shares.

Shareholding of the Board of Directors and the President and CEO

At the end of 2016, members of the Board of Directors and the company’s President and CEO and his deputy, as well as their related parties owned a total of 49 144 A Shares, corresponding to 0.09 per cent of the total number of shares and 0.03 per cent of the votes.

Ownership breakdown by sector on 31 December 2016
Share of owners,
%
Share of shares,
%
Share of votes,
%
Corporates 3.69 44.32 72.55
Finance and insurance companies 0.14 1.41 4.75
Public entities 0.05 6.97 2.44
Households 95.34 23.68 8.27
Non-profit organizations 0.54 3.06 1.07
Domestic sectors, total 99.77 79.44 89.07
Abroad 0.23 6.71 2.41
All sectors, total 100.00 86.16 91.48
General account 0.24 0.08

 

Ownership breakdown by amount of shares on 31 December 2016
Number of shares held Shareholders Shareholders, % Shares Shares, % Votes Votes,%
1–100 3 262 24.66 166 575 0.30 166 575 0.11
101–500 5 054 38.21 1 450 446 2.64 1 450 446 0.92
501–1 000 2 228 16.85 1 740 216 3.16 1 740 216 1.10
1 001–5 000 2 225 16.82 4 970 254 9.03 4 970 254 3.15
5 001–10 000 254 1.92 1 805 497 3.28 1 805 497 1.15
10 001–50 000 154 1.16 3 152 874 5.73 3 152 874 2.00
50 001–100 000 23 0.17 1 606 935 2.92 1 606 935 1.02
100 001–500 000 13 0.10 3 234 071 5.88 3 234 071 2.05
500 001– 13 0.10 36 102 144 65.61 126 067 144 79.98
Total 13 226 100.00 54 229 012 98.55 144 194 012 91.48
of which nominee registered 8 6 819 442 12.39 6 819 442 4.33
Waiting list 1 665 000 1.21 13 300 000 8.44
General account 132 510 0.24 132 510 0.08
Number of shares issued 55 026 522 100.00 157 626 522 100.00

 

20 largest shareholders on 31 December 2016
A shares K shares Of total shares, % Of total votes, %
1 LSO Osuuskunta 14 458 884 4 735 000 34.88 69.25
2 Sveriges Djurbönder Ek. För. 3 615 000 0 6.57 2.29
3 Varma Mutual Pension Insurance Company 1 192 806 0 2.17 0.76
4 Elo Pension Company 1 142 830 0 2.08 0.73
5 HKScan Corporation 1 008 849 0 1.83 0.64
6 Tiiviste-Group OY 1 000 000 0 1.82 0.63
7 The Central Union of Agricultural Producers and Forest Owners (MTK) 836 414 0 1.52 0.53
8 Apteekkien Eläkekassa 752 500 0 1.37 0.48
9 Hisinger-Jägerskiöld Eva 560 000 0 1.02 0.36
10 Petter and Margit Forsström´s Foundation 510 500 0 0.93 0.32
11 The State Pension Fund 500 000 0 0.91 0.32
12 Hallqvist AB 405 000 0 0.74 0.26
13 Nordea Life Assurance Finland Ltd. 400 000 0 0.73 0.25
14 Sijoitusrahasto Taaleritehdas Arvo Markka Osake 350 000 0 0.64 0.22
15 Suhonen Jyrki 220 312 0 0.40 0.14
16 Ilmarinen Mutual Pension Insurance Company 218 298 0 0.40 0.14
17 Gripenberg Jarl Estate 169 000 0 0.31 0.11
18 K. Hartwall Invest Oy Ab 163 300 0 0.30 0.10
19 Ollikainen Pekka 122 000 0 0.22 0.08
20 Ab 2011 Fruitgum Company Oy 120 000 0 0.22 0.08
Other shareholders, total 21 880 829 0 40.94 22.31
All shares, total 49 626 522 5 400 000 100.00 100.00
Source: Euroclear Finland