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1. Share capital and shares
The company?s share capital, paid and registered in the trade register, amounted to EUR 83,033,008 at the end of the financial year. The minimum capital in accordance with the Articles of Association is EUR 25,000,000, and the maximum capital is EUR 500,000,000. The nominal value of each share is EUR 0.50.
At the end of the financial year, the number of shares in Elisa Corporation was 166,066,016, consisting entirely of the same share class.
2. Treasury shares
Of Elisa Corporation?s subsidiaries, Lounet Oy owns 180,000 Elisa shares. Elisa Corporation shares held by the group have no significant effect on the distribution of holdings and voting rights in the company. Their proportion of all company shares and votes is 0.11%.
The Annual General Meeting authorised the Board of Directors to purchase treasury shares on 14 March 2005. The authorisation applies to a maximum of 6,888,000 treasury shares. The authorisation has not been used.
3. Warrant programme 2000
The Extraordinary General Meeting of Elisa Corporation held on 20 October 2000 decided to offer a loan with warrants to the group?s personnel. The exercise period based on the warrant programme 2000 ended on 31 October 2005 in accordance with the stated conditions. No shares were subscribed for on the basis of the warrants.
4. Board of Directors? Authorisations
On 14 March 2005, the Annual General Meeting authorised the Board of Directors to decide on increasing the company?s share capital through one or more new issues, taking a convertible bond and/or granting warrants, so that in a new issue the subscription of new shares in exchange for the convertible bonds and pursuant to warrants, a maximum aggregate of 28.3 million of the company?s shares can be issued and the company?s share capital can be increased by a maximum of EUR 14,150,000.
Moreover, the Annual General Meeting accepted the proposal of the Board of Directors in which the authorisation entitles the Board to disapply the pre-emption rights of existing shareholders to subscribe for new shares, convertible bonds and/or warrants and to decide on the determination principles and issue prices, the terms and conditions for subscribing for new shares and the terms of the convertible bond and/or warrants. The pre-emption rights of existing shareholders may be waived by means of this authorisation if there exists an important financial reason for doing so, such as financing, implementing or enabling corporate acquisitions, strengthening or developing the company?s financial or capital structure, or carrying out other arrangements related to the development of the company?s activities. The Board of Directors is authorised to decide on who is entitled to subscribe for the aforementioned, but such decision may not be made for the benefit of members of the company?s related parties. The Board of Directors in entitled to decide that the shares to be issued in a new issue, convertible bond or warrants can be subscribed for in kind or otherwise, subject to certain conditions or by using the right of set-off.
5. Tender offer to Saunalahti Group Oyj?s shareholders
On 7 July 2005 Elisa announced it would make a public tender offer for all shares issued by Saunalahti Group Oyj. In the tender Elisa offered one Elisa share for 5.6 Saunalahti Group Oyj shares. The tender commenced on 23 August 2005 and ended on 4 November 2005. As a result of the share subscriptions Elisa?s share capital increased by EUR 12,038,453.50 to EUR 83,033,008 and the number of shares by 24,076,907 shares to 166,066,016 shares. The shares issued in the exchange of shares were entered in the trade register on 15 November 2005.
6. Management?s and CEO?s interests
The members of the Board of Directors and the CEO held a total of 41,782 shares and votes on 31 December 2005, corresponding to 0.03% of the shares and votes.
7. Share performance
Elisa Corporation?s share closed at EUR 15.65 on 31 December 2005. The highest quotation of the year was EUR 16.79 and the lowest EUR 10.56. The average price was EUR 13.95.
At the end of the financial year, Elisa Corporation had a market capitalisation of EUR 2,596 million.
8. Quotation and trading
Elisa Corporation?s share is listed on the Main List of the Helsinki Stock Exchange under the symbol ELI1V. From 1 January 2005 to 31 December 2005, a total of 248,290,437 shares were traded, corresponding to a total value of EUR 3,464 million. The trading volume was 171.5% of the average number of shares outstanding during the financial year.
9. Shareholdings by owner group on 31 December 2005
|
Shares |
% of all
shares |
|
1a. Public companies |
381 391 |
0,23 |
|
1b. Private companies |
29 155 143 |
17,56 |
|
2. Finance and insurance companies |
6 783 575 |
4,08 |
|
3. Public sector entities |
12 061 163 |
7,26 |
|
4. Non-profit making entities |
2 715 385 |
1,64 |
|
5. Private households |
45 029 809 |
27,12 |
|
6. Foreign |
229 322 |
0,14 |
|
7. Joint account and waiting list |
516 177 |
0,31 |
|
Nominee registered |
69 014 051 |
41,56 |
|
Elisa Group |
180 000 |
0,11 |
|
Total |
166 066 016 |
100,00 |
10. Analysis of shareholdings on 31 December 2005
|
Size of
shareholding |
No. of share-
holdings |
% |
No. of
shares |
% |
| 1-100 |
27 851 |
10,75 |
1 364 747 |
0,82 |
| 101-500 |
222 811 |
85,99 |
39 774 551 |
23,95 |
| 501-1 000 |
5 509 |
2,13 |
3 727 588 |
2,24 |
| 1 001-5 000 |
2 469 |
0,95 |
4 633 285 |
2,79 |
| 5 001-10 000 |
214 |
0,08 |
1 476 105 |
0,89 |
| 10 001-50 000 |
180 |
0,07 |
3 847 998 |
2,32 |
| 50 001-100 000 |
32 |
0,01 |
2 289 593 |
1,38 |
| 100 001- |
49 |
0,02 |
108 255 972 |
65,19 |
|
Total |
259 115 |
100,00 |
165 369 839 |
99,58 |
|
|
|
|
|
|
On waiting list, total |
|
|
0 |
0,00 |
|
In joint accounts |
|
|
516 177 |
0,31 |
|
Elisa Group |
|
|
180 000 |
0,11 |
|
Number issued |
|
|
166 066 016 |
100,00 |
11. Largest shareholders on 31 December 2005
|
Name |
Shares |
% |
|
1 |
Novator Finland Oy |
17 105 583 |
10,30 |
|
2 |
Keskinäinen Eläkevakuutusyhtiö Ilmarinen |
2 595 163 |
1,56 |
|
3 |
Keskinäinen Työeläkevakuutusyhtiö Varma |
2 464 163 |
1,48 |
|
4 |
Ajanta Oy |
2 074 176 |
1,25 |
|
5 |
Auria Oy |
1 310 209 |
0,79 |
|
6 |
Vakuutusosakeyhtiö Henki-Sampo |
1 158 435 |
0,70 |
|
7 |
Helsingin kaupunki |
1 124 540 |
0,68 |
|
8 |
Suomen valtio / valtiovarainministeriö |
1 085 792 |
0,65 |
|
9 |
Keskinäinen Eläkevakuutusyhtiö Tapiola |
915 642 |
0,55 |
|
10 |
Valtion Eläkerahasto |
800 000 |
0,48 |
|
11 |
Keskinäinen Vakuutusyhtiö Kaleva |
627 250 |
0,38 |
|
12 |
Vaasan Läänin Puhelin Oy |
572 200 |
0,34 |
|
13 |
Nordea Pankki Suomi Oyj |
542 665 |
0,33 |
|
14 |
Etera Keskinäinen Eläkevakuutusyhtiö |
521 184 |
0,31 |
|
15 |
Erikoissijoitusrahasto OMX Helsinki 25 |
469 512 |
0,28 |
|
16 |
Sijoitusrahasto Nordea Nordic Small Cap |
388 350 |
0,23 |
|
17 |
Neste Oil Eläkesäätiö |
334 158 |
0,20 |
|
18 |
Keskinäinen Vakuutusyhtiö Eläke-Fennia |
317 823 |
0,19 |
|
19 |
PSS-Trade Oy |
313 758 |
0,19 |
|
20 |
OP-Focus Erikoissijoitusrahasto |
300 000 |
0,18 |
|
Total |
35 020 603 |
21,09 |
|
Elisa Group |
180 000 |
0,11 |
|
|
|
|
|
Nominee registered |
69 014 051 |
41,56 |
|
Other than listed |
61 851 362 |
37,25 |
|
Total |
166 066 016 |
100,00 |
|
2005
Suomeksi
