Share capital and number of shares
There were no changes in Lassila & Tikanoja’s share capital and number of shares in 2015 and 2016. The registered share capital of the company is EUR 19,399,437. The number of shares is 38,798,874. In 2016, the average number of shares excluding the shares held by the company totalled 38,375,007. Each share carries one vote. The Articles of Association do not set an upper limit on the share capital and number of shares. A share has neither a nominal value nor a book equivalent value.
The company’s shares are included in the book-entry system of securities maintained by Euroclear Finland Ltd. Euroclear Finland maintains the company’s official list of shareholders.
Lassila & Tikanoja plc had 10,812 registered shareholders at the end of 2016 (9,790; 10,152). Nominee-registered shares and shares in direct foreign ownership accounted for 17.6% of the stock (21.6; 17.9).
Holdings of the Board of Directors and President and CEO
The members of the Board, the President and CEO, and organisations under their control held a total of 999,491 shares in the company on 31 December 2016. They represent 2.6% of the number of shares and votes.
Trading in shares in 2016
The company’s shares are quoted on the mid-cap list of Nasdaq Helsinki Oy in the Industrials sector. The trading code is LAT1V and the ISIN code is FI0009010854.
The volume of trading in Lassila & Tikanoja plc shares excluding the shares held by the company on Nasdaq Helsinki during 2016 was 6,475,324, which is 16.9% (26.0%; 26.3%) of the average number of outstanding shares. The value of trading was EUR 110.1 million (172.4; 145.2). The highest share price was EUR 19.59 and the lowest EUR 14.37. The closing price was EUR 19.20. At the end of the review period, the market capitalisation excluding the shares held by the company was EUR 736.9 million (695.1; 584.7).
At the end of the period, the company held 420,868 of its own shares, representing 1.1% of all shares and votes.
Authorisation for the Board of Directors
The Annual General Meeting held on 17 March 2016 authorised Lassila & Tikanoja plc’s Board of Directors to make decisions on the repurchase of the company’s own shares using the company’s unrestricted equity. In addition, the Annual General Meeting authorised the Board of Directors to decide on the share issue and the issuance of special rights entitling their holders to shares.
The Board of Directors is authorised to purchase a maximum of 2,000,000 company shares (5.2% of the total number of shares). The repurchase authorisation is effective for 18 months. The repurchase authorisation was unused at the end of the financial year.
The Board of Directors is authorised to decide on the issuance of new shares or shares which may be held by the company through a share issue and/or issuance of option rights or other special rights conferring entitlement to shares, referred to in Chapter 10, Section 1 of the Finnish Companies Act, so that under the authorisation, a maximum of 2,000,000 shares (5.2% of the total number of shares) may be issued and/or conveyed. The share issue authorisation is effective for 18 months.
Restrictions in voting power
According to the Articles of Association, at a General Meeting of Shareholders no shareholder may cast more than one fifth of the total number of votes represented at the meeting.
In 2016, the Group’s earnings per share were EUR 1.13 (0.98; 0.47) and cash flow from operating activities per share amounted to EUR 1.99 (2.33; 2.05). The Board of Directors proposed a dividend of EUR 0.92 per share to the Annual General Meeting held on 16 March 2017.
A dividend of EUR 0.85 per share was paid for the financial year 2015, and a dividend of EUR 0.75 per share was paid for the financial year 2014.