Financials

Shares and shareholders

1. Share capital and shares

The company’s paid-up share capital registered in the Trade Register stood at EUR 83,033,008 at the end of the financial year.

According to the Articles of Association, the minimum number of shares is 50,000,000 and the maximum is 1,000,000,000. At the end of the financial year, the number of Elisa Corporation shares was 167,335,073, all within one share series.

2. Authorisations of the Board of Directors

On 31 March 2016, the Annual General Meeting authorised the Board of Directors to decide on a new share issue, transfer of treasury shares owned by the company and/or granting of special rights referred to in Chapter 10, Section 1 of the Finnish Companies Act subject to the following: The authorisation allows the Board of Directors to issue a maximum of 15,000,000 shares in one or several issues. The share issue and shares granted by virtue of special rights are included in the aforementioned maximum number. The maximum number is approximately 9 per cent of the entire stock. The share issue can be free or for consideration and can also be directed to the Company itself. The authorisation entitles the Board to make a directed issue. The authorisation may be used for making acquisitions or implementing other arrangements related to the Company’s business, to finance investments, to improve the Company’s financial structure, or for other purposes decided by the Board of Directors. The Board of Directors shall have the right to decide on all other matters related to the share issue. The authorisation shall be in force until 30 June 2018 and it annuls the authorisation given by the Annual General Meeting to the Board of Directors on 2 April 2014.

In addition, the Annual General Meeting authorised the Board of Directors to decide on the acquisition of treasury shares subject to the following: The Board of Directors may decide to acquire or pledge on non-restricted equity a maximum of 5,000,000 treasury shares. The acquisition may take place as one or several blocks of shares. The consideration payable for the shares shall not be more than the ultimate market price. In purchasing the Company’s own shares derivative, share lending and other contracts customary in the capital market may be concluded pursuant to law and the applicable legal provisions. The authorisation entitles the Board of Directors to pass a resolution to purchase the shares by making an exception to the purchase of shares relative to the current holdings of the shareholders. The treasury shares may be used for making acquisitions or implementing other arrangements related to the Company’s business, to finance investments, to improve the Company’s financial structure, to be used as part of the incentive compensation plan, or for the purpose of otherwise assigning or cancelling the shares. The Board of Directors shall have the right to decide on all other matters related to the purchase of the Company’s own shares. The authorisation is in force until 30 June 2017, and it annuls the authorisation given by the Annual General Meeting to the Board of Directors on 26 March 2015.

3. Treasury shares, share issues and cancellations

At the beginning of the financial period, Elisa held 7,851,006 treasury shares.

The Annual General Meeting held on 31 March 2016 authorised the Board of Directors to acquire and assign treasury shares. The authorisation applies to a maximum of 5,000,000 treasury shares. On the basis of the authorisation, Elisa has not acquired any treasury shares.

A total of 135,877 treasury shares were disposed of during the financial year.

At the end of the financial period, Elisa held 7,715,129 treasury shares.

The Elisa shares held by Elisa do not have any substantial impact on the distribution of holdings and votes in the Company. They represent 4.61 per cent of all shares and votes.

4. Management interests

The aggregate number of shares held by Elisa’s Board of Directors and the CEO on 31 December 2016 was 97,254 shares and votes, which represented 0.06 per cent of all shares and votes.

5. Share performance

The Elisa share closed at EUR 30,93 on 31 December 2016. The highest quotation of the year was EUR 35,80 and the lowest EUR 29,05. The average price was EUR 32,27.

At the end of the financial year, the market capitalisation of Elisa’s outstanding shares was EUR 5,175.7 million.

6. Quotation and trading

The Elisa share is quoted on the Main List of the Nasdaq Helsinki with the ticker ELISA. The aggregate volume of trading on the Nasdaq Helsinki between 1 January and 31 December 2016 was 105,662,729 shares for an aggregate price of EUR 3,409 million. The trading volume represented 63.1 per cent of the outstanding number of shares at the end of the financial year.

7. Distribution of holding by shareholder groups at 31 December 2016
    Number of shares Proportion of all shares, %
1 Private companies 22,467,956 13.43
2 Financial and insurance institutions 2,353,872 1.41
3 Public corporations 12,959,610 7.74
4 Non-profit organisations 5,206,141 3.11
5 Households 44,397,102 26.53
6 Foreign 2,497,518 1.49
7 Nominee registered 69,737,747 41.68
  Elisa Group 7,715,129 4.61
       
    167,335,073 100.00
8. Distribution of holding by amount at 31 December 2016
Size of holding Number of shareholders % Number of shares %
1–100 36,436 18.33 1,868,808 1.12
101–1 000 157,047 79.01 34,017,336 20.33
1 001–10 000 4,995 2.51 11,855,203 7.08
10 001–100 000 261 0.13 6,647,836 3.97
100 001–1 000 000 26 0.01 5,445,567 3.25
1 000 001– 6 0.00 29,539,240 17.65
Nominee registered     69,737,747 41.68
  198,773 100.00    
Elisa Common Clearing account (1     508,207 0.30
Elisa Group     7,715,129 4.61
Issued amount     167,335,073 100.00
1) Shares in the Common Clearing account include shares that had not been transferred to the share owners' book-entry accounts at the time of, or subsequent to, entering the shares into the Finnish book-entry system.
9. Largest shareholders at 31 December 2016
  Name Number of shares %
1. Solidium Oy 16 801 000 10.04
2. Varma Mutual Pension Insurance Company 6 711 976 4.01
3. Ilmarinen Mutual Pension Insurance Company 2 014 304 1.20
4. Swiss National Bank 1 641 988 0.98
5. State Pension Fund 1 330 000 0.79
6. City of Helsinki 1 124 690 0.67
7. Elo Mutual Pension Insurance Company 493 000 0.29
8. KPY Sijoitus LLC 457 163 0.27
9. Sigrid Juselius Säätiö 352 000 0.21
10. Åbo Akademi University Foundation sr 342 900 0.20
11. OP Life Assurance Company Ltd 318 902 0.19
12. Samfundet Folkhälsan i Svenska Finland rf 315 263 0.19
13. Danske Invest Suomi Yhteisöosake 298 607 0.18
14. City of Vantaa 258 738 0.15
15. Seligson & Co Equity Fund 254 000 0.15
16. Verdipapirfondet Odin Finland 232 788 0.14
17. Andra AP-fonden 202 672 0.12
18. Föreningen Konstsamfundet R.F. 190 000 0.11
19. Orionin Eläkesäätiö 173 300 0.10
20. Stiftelsen Brita Maria Renlunds Minne 153 300 0.09
    33 666 591 20.12
       
  Elisa Group 7 715 129 4.61
  Elisa Personnel Fund 85 489 0.05
  Kotkan Puhelinyhdistys Pension Fund 6 336 0.00
  Elisa Common Clearing account 1) 508 207 0.30
  Nominee registered 69 737 747 41.68
  Shareholders not specified here 55 615 574 33.24
       
    167,335,073 100.00
1) Shares in Common Clearing account include shares which have not been transferred to the share owners' book-entry accounts at the time of, or subsequent to, entering the shares into the Finnish book-entry system.
 
BlackRock Inc gave notice in accordance with Chapter 9, Section 5 of the Finnish Securities Market Act that the direct share ownership of Elisa Corporation shares owned by BlackRock, Inc. was 8,934,243 and by its funds was 392,352, totaling 8,479,441 shares which was 5,57 per cent of Elisa Corporation’s entire stock.

10. Daily price development

10. Daily price development, closing price

11. Trading volume

11. Trading volume

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