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The Epiroc Share

Below you find detailed information regarding the Epiroc share. 

Listing and shares

Epiroc’s shares were listed on Nasdaq Stockholm on June 18, 2018 at an opening price of SEK 88.0 and SEK 84.0, respectively (A and B share). Epiroc has dual share classes. A shares entitle the owner to one vote while B shares entitle the owner to one tenth of a vote. A shares and B shares carry equal rights to a part of the company’s assets and profit.

Return and market capitalization

In 2023, the price of the A share increased 6.5% (-17.2) to SEK 202.2 and the price of the B share increased 5.2% (-12.5) to SEK 176.4. The corresponding development for OMXSPI, i.e.,

all shares, and OMX Stockholm Industrials (SX2000PI) was +25.1% % and 15.5%, respectively. The total shareholder return of the A share was +8.4% (-15.8). 

Epiroc’s market capitalization at the end of 2023 was MSEK 235 357 (221 771). The total shareholder return since listing has been 146.7% for the A share and 130.2% for the B share.

Trading

Epiroc was the 26th (29th) most traded name on Nasdaq Stockholm during the year. The total turnover in Epiroc shares was SEK 59.0 (68.4) billion, corresponding to average daily

turnover of MSEK 235 (270).

Nasdaq Stockholm accounted for 19% (24) of the trading in the A-share. Around 30% (38) of the trading was conducted on the open market, while the remainder was outside the public

market, e.g., through over-the-counter trading and dark pools.

Ownership structure

At year end, Epiroc had 69 334 (67 844) shareholders. The ten largest shareholders registered directly or as a group with Euroclear Sweden, the Swedish Central Securities Depository,

by voting rights, accounted for 37.1% (37.3) of the voting rights and 33.1% (33.3) of the number of shares. Swedish investors held 46% (46) of the voting rights and 48% (48) of capital.

Personnel stock option program

The Board of Directors (Board) will propose to the Annual General Meeting 2024 a similar performance based longterm incentive program as in previous years. The intention is

to cover the plan through the repurchase of the company’s own shares.

Dividend, redemption and dividend policy

The Board proposes a dividend of SEK 3.80 (3.40) per share to be paid in two equal installments. Epiroc’s goal is to provide long-term stable and rising

dividends to its shareholders. The dividend should correspond to 50% of net profit over the cycle. The proposed dividend corresponds to 49% (49) of earnings per share.

Dual share classes

Dual share classes are common in Sweden and represent a majority of the aggregate market capitalization of main market listed companies in Sweden.

The dual share classes are a governance mechanism which facilitates a stable, long-term investor base, while at the same time enabling high liquidity in the shares. According

to the Confederation of Swedish Enterprise (Sw. Svenskt Näringsliv) investors holding shares without multiple voting rights have solid protection under Swedish corporate law,

including:

  • a strong principle of equal and fair treatment of shareholders,
  • qualified majority requirements for key material shareholder decisions,
  • high degree of transparency,
  • shareholder pre-emption rights on share issues, and minority powers to take specific action, including to request minimum dividends, minority auditors and special examiners.
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