Hemtex share
Hemtex has been listed on the Mid Cap list of the OMX Nordic Exchange Stockholm since October 6, 2005.
The Hemtex share is traded under the HEMX symbol and is included in the index for durable goods and services, SX25 Consumer Discretionary. A round lot consists of 100 shares.
On April 30, 2008, Hemtex AB’s share capital amounted to SEK 73.3 M distributed among 29,337,400 shares, each with a par value of SEK 2.50. Each share entitles the holder to one vote at the Annual General Meeting and all shares carry equal rights to the company’s assets and profits.
Weak price trend in a weak stock exchange
During the 2007/2008 fiscal year, the world’s leading stock exchanges declined. On the Stockholm Stock Exchange, the OMXS index, which reflects the development on the exchange as a whole, fell 23% from May 1, 2007 to April 30, 2008.
The price of the Hemtex share dropped 53%, from SEK 138.50 on May 1, 2007 to SEK 64.75 on April 30, 2008. The highest price paid was SEK 143.50 on May 3, 2007 and the lowest price was SEK 54 on January 22, 2008. At the end of the fiscal year, the market capitalization of Hemtex was SEK 1,900 M.
During the period, a total of 37.0 million Hemtex shares were traded at a value of SEK 3,231 M. This corresponds to a turnover of 126% of the total number of shares in Hemtex. The turnover rate for the Stockholm Stock Exchange as a whole amounted to 142% during the same period.
Hemtex has 5,197 shareholders
On April 30, 2008, Hemtex had 5,197 shareholders. Most shareholders, 4,608, owned 1,000 shares or less. The proportion of institutional ownership amounted to 84% (79) and the proportion of foreign ownership to 28% (41).
Distribution of owners, %
On April 30, 2008, Hemtex’ Group Management owned a total of 530,500 shares in Hemtex, which corresponds to 1.8% of the capital and voting rights. Hemtex’ Board members owned 25,400 shares, corresponding to 0.1% of the capital and voting rights.
Full subscription in Hemtex’ two warrant programs
In June 2007, all warrants in the two previously outstanding warrant programs, T01 and T02, were subscribed. The warrants were issued to key employees and senior executives during the 2004/2005 fiscal year.
Following this subscription, the number of shares rose from 28,017,400 to 29,337,400 and the share capital increased by SEK 3.3 M to SEK 73.3 M. This corresponds to a 4.5% dilution of the share capital and voting rights. In conjunction with the redemption and the issue of new shares, the company was provided with SEK 23.9 M.
The former Chairman of the Board redeemed 2,000 warrants against 80,000 shares, the President redeemed 9,400 warrants against 376,000 shares, other senior executives redeemed 15,400 warrants against 616,000 shares and others redeemed 6,200 warrants against 248,000 shares.
Incentive program 2007–2010
At the Annual General Meeting on September 5, 2007, a resolution was taken to introduce long-term incentive programs for senior executives within the Hemtex Group through the issue of warrants and employee stock options in Hemtex AB. Within the framework of the two programs, a total of seven senior executives acquired 120,000 warrants at market price and were allotted 120,000 employee stock options without charge. Each warrant entitles the participant to subscribe for one new share. The President holds 30,000 warrants and 30,000 employee stock options.
Other senior executives hold 15,000 warrants and 15,000 employee stock options each.
The subscription period takes place from June 1 to July 31, 2010. If all warrants and employee stock options are exercised, it will correspond to a 0.82% dilution of the share capital and number of votes.
Dividend policy
The Board of Director’s goal is to propose dividends that, over time, correspond to an average of approximately 30 to 50% of consolidated net profit for the year after tax. The date for, as well as the amount of, future dividends will be dependent on the company’s earnings, expansion and acquisition opportunities and financial position in other respects.
Proposed dividend of SEK 2.65
The Board of Directors of Hemtex AB proposes that the Annual General Meeting on September 3, 2008 approve a dividend for the 2007/2008 fiscal year amounting to SEK 2.65 (4.85) per share, corresponding to SEK 77.7 M (142.3). The proposed dividend comprises an ordinary dividend of SEK 1.65 (2.85), corresponding to 50% (50) of the year’s profits, and an extra dividend of SEK 1 (2). Assuming that the Annual General Meeting approves the Board of Directors’ proposal, the dividend is expected to be paid by VPC on September 11, 2008.
The proposed record day for the right to dividends is September 8, 2008.
Persons with insider status
Trading in shares in a company in which a person has insider status is called insider trading. Such trading must be registered according to law and reported to the Swedish Financial Supervisory Authority. Hemtex is obligated to report to the Financial Supervisory Authority which persons are insiders in Hemtex. These persons must register their shareholdings and all changes in their holdings. Certain closely related individuals and legal entities may also be subject to the reporting obligation. Hemtex’ management, Board of Directors, auditors and certain other employees are considered to have insider status in Hemtex. A link to a complete list of the persons with insider status is available here.
Stock market information
Hemtex’ information to the stock market must be characterized by openness, accuracy, relevance and speed. This year, for the first time, Hemtex has prepared a fully web-based annual report and thereby selected a distribution channel that is directly accessible to all. As a result, the format of the printed annual report has been simplified and its contents limited to the formal components.
Hemtex’ press releases, interim reports and annual reports are available under Investor Relations at www.hemtex.com. The website also contains additional information about the company, financial trends and the share. In addition, it is possible to subscribe on the website for press releases, interim reports, annual reports and the share’s closing price.
