Two share series
Series A shares carry one vote per share and series C shares carry 100 votes per share. There is no limit on how many votes each shareholder can submit at a general meeting. The series A shares were listed on what was then the Stockholm Fondbörs (Stock Exchange) in 1938 and are now quoted on the large cap list of Nasdaq Stockholm. The series C shares were listed in 1998 and delisted in late January 2020 at the request of Nasdaq Stockholm.
The number of outstanding shares amounts to 206,265,933, of which 197,990,869 constitute A shares and 8,275,064 are C shares. In addition, Hufvudstaden holds 5,006,000 A shares. There has been no change since 2003 when the buy-back was completed.
Swedish shares are being traded to an increasing extent in marketplaces other than Nasdaq Stockholm. In 2019, 58 per cent (51) of trading in Hufvudstaden’s shares took place in marketplaces other than Nasdaq Stockholm, such as Cboe (44 per cent), LSE (5 per cent) and Turquoise (2 per cent).
According to a decision taken at the Annual General Meeting in 2001, what is known as a conversion provision has been included in the Articles of Association. This means that the holders of series C shares are entitled, if they wish, to request conversion of their series C shares into series A shares. No such conversion took place during 2019.