Administration Report

Parent company

The operations of the Parent Company AddLife AB comprise Group Management, business area management, consolidated reporting and financial management.

The Parent Company's net sales amounted to SEK 41 million (41) and the loss after financial items was SEK 11 million (-6). Balance sheet appropriations include Group contributions received of SEK 181 million (78) and Group contributions paid of SEK -5 million (-21). Cash flow from investment activities totalled SEK 70 million (-218). The Parent Company's financial net debt at the close of the financial year stood at SEK 407 million (660).

Share capital, share repurchases, incentive programmes and dividends

On 31 December 2020, the Parent Company’s share capital amounted to SEK 58,309,340 divided into the number of shares shown below with a nominal value of SEK 0.51 per share.

The AGM on 7 May 2020 resolved to conduct a 4:1 share split. As a result of the split, the number of shares increased to 114,498,292, including 4,625,216 class A shares and 109,873,076 class B shares. The new shares were registered in the shareholders’ accounts on 29 May 2020. During the year 10,080 class A shares were converted into 10,080 class B shares. After the conversion the total number of shares and votes in AddLife as of 31 December 2020 was 114,498,292 shares and 156,034,516 votes. Of these shares, 4,615,136 are class A shares, representing 46,151,360 votes, and 109,883,156 are class B shares, representing 109,883,156 votes.

On 31 December 2020 the number of stockholders was 7,501 (4,431).

The Company's class B shares are listed on Nasdaq Stockholm. Two owners each control 10 percent or more of the voting rights. They are RoosGruppen AB (Håkan Roos through companies) with an ownership stake corresponding to 18.37 percent of votes, and Tom Hedelius, who owns shares corresponding to 13.26 percent of votes.

According to Chapter 6, Section 2a of the Swedish Annual Accounts Act, listed companies are required to disclose specific circumstances that may affect the possibility of a take-over of the Company through a public offer for shares in the Company. In the event that the Company is delisted from Nasdaq Stockholm, or that shareholders other than the current principal shareholders may acquire more than 50 percent of the capital or voting rights, the granted credit framework for an overdraft facility at Handelsbanken of SEK 700 million may be terminated.

Repurchase of treasury shares and incentive programs

In May 2020 the AGM authorised the Board of Directors during the period up until the 2021 AGM to buy back a maximum of ten percent of all shares in the Company.

The repurchased shares are intended to cover the Company's commitment to outstanding call options programs. During the financial year, 500,000 (640,000) class B treasury shares were repurchased. The average number of class B treasury shares held during the financial year was 2,370,836 (1,913,620). At year-end the number of class B treasury shares was 2,010,845 (565,250) with an average purchase price of SEK 52.12 (49.94). The shares account for 1.8 percent (2.0) of shares issued and 1.3 percent (1.4) of votes.

At year-end AddLife had four outstanding call option programs. Outstanding call options during the financial year resulted in an estimated dilutive effect based on the period's average share price of approximately 0.1 percent (0.2).

The Board intends to propose to the Annual General Meeting in May 2021 an incentive program based on the same, or substantially similar, model as was approved at the AGM in 2020.

Latest updated: 3/31/2021 9:14:47 AM by ellinor.stenhaug@cortinate.se