Share capital
Kitron ASA is a publicly listed company on the Oslo Stock Exchange (ticker code: KIT) in the OB Standard segment. The company is governed by Norwegian law.
Kitron ASA has one single class of shares.
Each share carries one vote at the company’s general meeting.
The shares are freely negotiable. No restrictions on negotiability are included in the Articles of Association.
Registered share capital as at 31 December 2010: NOK 172,961,625
Number of shares: 172,961,625
Nominal value: NOK 1.00 each.
Time-weighted average number of shares used as a basis for calculating key figures: 172,961,625.
There were no outstanding options or subscription rights in 2010.
Mandatory notifications of trade and flagging announcements
No mandatory notifications of trade or flagging announcements have been issued during the last 12 months.
Legal information for shareholders
Key legal information for shareholders in Norwegian public limited companies listed on Oslo Stock Exchange
Information and investor relations
Kitron wishes to maintain open communications with its shareholders and other stakeholders. Stakeholders are kept informed by announcements to the Oslo Børs and press releases. Kitron’s website www.kitron.com provides information on Kitron’s business and financial situation. Interim financial statements are presented at meetings open to the general public and are available as webcasts under
Reports and presentatiaons.
Kitron reports all manufacturing orders exceeding NOK 20 million. The group also reports smaller orders if these are of strategic importance or significant in any other way.
The corporate management is responsible for communication activities and investor relations, and also facilitates direct contact with the chairman of the board or other board members.
Shareholder structure
At the end of 2010, Kitron had 2,957 shareholders, with foreign shareholdings amounting to 54.4 per cent. The 20 largest shareholders held a total of 85.8 per cent of the company’s shares at year-end.
General meetings
Mandates
Increasing the share capital
The ordinary general meeting of 28 April 2011 authorised the board to execute one or more share capital increases by issuing a number of shares maximised to 10 per cent of Kitron’s registered share capital as at 28 April 2011. The total amount by which the share capital may be increased is NOK 17,296,162.50. The authority applies until the ordinary general meeting in 2012, but no longer than 30 June 2012. The authority may be utilised for mergers and acquisitions or to raise funds for investments.
Own sharesThe ordinary general meeting of 28 April 2011authorised the board to acquire own shares, for a total nominal value of NOK 17,296,162.50, which is equal to 10 per cent of Kitron’s registered share capital at 28 April 2011. Under the authorisation the board shall pay a minimum of NOK 1.00 per share and a maximum of the prevailing market price per share on the day the offer is made, provided, however, that the amount does not exceed NOK 25.00 per share. The authority is valid until the ordinary general meeting in 2012, but no longer than 30 June 2012.
Articles of association
Annual general meeting 2011: Protocol
Annual general meeting 2011: Notice
Extraordinary general meeting 2010-2: Protocol
Extraordinary general meeting 2010-2: Notice
Annual general meeting 2010: Protocol
Annual general meeting 2010: Notice
Extraordinary general meeting 2010: Protocol
Extraordinary general meeting 2010: Notice
Annual general meeting 2009: Protocol
Annual general meeting 2009: Notice
Nomination committee
Kustaa Aima - until the annual general meeting in 2012
Tuomo Lähdesmäki- until the annual general meeting in 2012
Arne Solberg - until the annual general meeting in 2013
Dividend policy
Kitron ASA has as a policy to pay dividend corresponding to between 30 and 50 per cent of net profit for the year, provided the company’s share capital and liquidity situation are acceptable after the dividend has been paid out.
Dividend last three years
| |
Amount |
Proposal |
Resolution |
Payment |
| 2008 |
NOK 0,0578 per share
|
24 March |
7 May |
19 May |
| 2009 |
0 |
|
|
|
| 2010 |
0 |
|
|
|
Prospectuses
No prospectuses or information documents have been prepared in the last three years.
Account manager
DNB Bank ASA, Verdipapirservice, NO-0021, Oslo, Norway
Phone: +47 22 48 35 80
Fax: +47 22 48 11 71
E-mail:
