ANNUAL REPORT INTRUM JUSTITIA A N N U A L R EP O R T 2 0 ...
ANNUAL REPORT INTRUM JUSTITIA A N N U A L R EP O R T 2 0 ...
ANNUAL REPORT INTRUM JUSTITIA A N N U A L R EP O R T 2 0 ...
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No. of shares traded<br />
Intrum Justitia<br />
OMX Stockholm (OMXS)<br />
OMX Stockholm<br />
Commercial & Professional Services<br />
SHARE CAPITAL<br />
Intrum Justitia AB’s share capital amounted<br />
to SEK 1,599,893 on December 31,<br />
2010 distributed among 79,994,651 shares<br />
with a quota value per share of SEK 0.02.<br />
Each share entitles the holder to one vote<br />
and an equal share in the company’s assets<br />
and earnings.<br />
SHARE-BASED<br />
REMUNERATION fOR EMPLOYEES<br />
Performance-Based Share Program<br />
The Annual General Meeting in 2008 resolved<br />
to adopt a Performance-Based Share<br />
Program for 2008 consisting of a maximum<br />
of 300,000 performance shares allocated to<br />
no more than 70 individuals (the President<br />
& CEO, other senior executives and other<br />
key individuals). A performance share in<br />
this program entitled the holder to acquire<br />
one share in Intrum Justitia for SEK 10 at a<br />
date in the future. The program was divided<br />
into two parts, one of which, corresponding<br />
to 50 percent of the performance shares, had a<br />
performance period extending from January 1,<br />
2008 to December 31, 2009, and expired with<br />
no value. The second part, also corresponding<br />
to 50 percent of the performance shares, had a<br />
performance period extending from January 1,<br />
2008 to December 31, 2010. Like the first part,<br />
the performance criteria with respect to growth<br />
in earnings per share etc. were not met and this<br />
program expired with no value. See also Note<br />
32, page 71. No similar share-based program<br />
was decided upon in 2010.<br />
MARKET CAPITALIZATION,<br />
PRICE TREND AND TURNOVER<br />
In 2010 the price of Intrum Justitia’s share<br />
rose from SEK 89.75 to SEK 103.50, an increase<br />
of 15.3 percent. During the same period<br />
the NASDAQ OMX Stockholm index<br />
increased by 21.2 percent. The lowest price<br />
paid for the share during the year was SEK<br />
74.50 on May 25, and the highest was SEK<br />
103.50 on December 30. The price at the<br />
end of the year gave a market capitalization<br />
for Intrum Justitia of SEK 8,254 M (7,157).<br />
Share trades were concluded on every business<br />
day of the year. An average of 278,314<br />
The share<br />
SEK NO. OF SHARES<br />
160.0<br />
140.0<br />
120.0<br />
100.0<br />
80.0<br />
60.0<br />
40.0<br />
20.0<br />
0.0<br />
JAN-2006<br />
MAR-2006<br />
MAY-2006<br />
JUL-2006<br />
S<strong>EP</strong>-2006<br />
NOV-2006<br />
JAN-2007<br />
MAR-2007<br />
MAY-2007<br />
JUL-2007<br />
S<strong>EP</strong>-2007<br />
NOV-2007<br />
JAN-2008<br />
MAR-2008<br />
MAY-2008<br />
JUL-2008<br />
S<strong>EP</strong>-2008<br />
NOV-2008<br />
JAN-2009<br />
MAR-2009<br />
MAY-2009<br />
JUL-2009<br />
S<strong>EP</strong>-2009<br />
NOV-2009<br />
JAN-2010<br />
MAR-2010<br />
MAY-2010<br />
JUL-2010<br />
S<strong>EP</strong>-2010<br />
NOV-2010<br />
8 000 000<br />
7 000 000<br />
6 000 000<br />
5 000 000<br />
4 000 000<br />
3 000 000<br />
2 000 000<br />
1 000 000<br />
Omsatt antal aktier Intrum Justitia OMX Stockholm (OMXS) OMX Stockholm Commercial & Professional Services<br />
shares were traded per day (402,383). The<br />
turnover rate, i.e. the share’s liquidity, amounted<br />
to 0.85 (0.92), compared to 0.87 (1.07) for<br />
NASDAQ OMX Stockholm as a whole.<br />
SHAREHOLDERS<br />
At the end of 2010 Intrum Justitia had<br />
7,168 shareholders, compared to 7,154<br />
the year before. The seven members of the<br />
Group Management Team held a combined<br />
325,500 shares in Intrum Justitia at<br />
the end of the year. In addition to that the<br />
CEO holds 260,000 call options issued by a<br />
former shareholder. Intrum Justitia’s board<br />
members owned 46,500 shares and Intrum<br />
Justitia AB was holding 250,000 treasury<br />
shares at the end of 2010.<br />
DIVIDEND POLICY<br />
Intrum Justitia’s Board of Directors intends<br />
to annually propose a dividend or equivalent<br />
form of distribution to shareholders that<br />
over time averages at least half of the year’s<br />
net earnings after tax. Decisions relating to<br />
dividend proposals take into account the<br />
company’s future revenues, financial position,<br />
capital requirements and the situation in general.<br />
For the 2010 financial year the Board is<br />
proposing a dividend of SEK 4.10 per share,<br />
corresponding to around 72 percent of the net<br />
earnings after tax. The proposed record date<br />
for the dividend is April 5, 2011.<br />
0<br />
31