The Share
The Höganäs share is quoted on NASDAQ OMX Stockholm Exchange’s Mid Cap List. The share is a constituent of the Metals & Mining sector index.

The closing price of Höganäs’ class B share in 2009 was SEK 164 (70), equivalent to market capitalisation of MSEK 5,595 (2,457). The share price rose by 134% in 2009, against the Mid Cap Index which rose by 46%, while the Metals & Mining index rose by 147%. OMX Stockholm index rose by 47% in 2009. The Höganäs class B share set a high in the year of SEK 167 on 29 December and a low of SEK 67 on 14 January.

Share capital
Höganäs’ share capital is SEK 175,494,660, divided between 35,098,932 shares, of which 981,000 are class A shares and 34,117,932 class B shares. Both share classes have a quotient value of SEK 5.00 per share and have equal rights to participation in the Company’s assets and earnings. Each class A share has ten votes and each class B share has one vote. Only the class B share is quoted on the stock market. A trading lot is one share.

Share turnover
With the introduction of the EU MiFiD directive, it is now possible to trade shares on new marketplaces like Burgundy, Chi-X, Turquoise, etc. The Höganäs share is listed on Nasdaq OMX Stockholm, and trading on the Stockholm Stock Exchange represented over 91% of total turnover of the share in 2009. A total of 12.67 million (27.17) shares were traded in 26,731 (54,478) transactions, equivalent to a rate of turnover of 37% (77). The rate of turnover for the Stockholm Stock Exchange fell to 119% (152), and for the Mid Cap list, fell to 65% (66).

Share buy-backs
Höganäs did not re-purchase any shares in 2009. Höganäs’ holdings of treasury shares were unchanged at 293,800 class B shares at year-end 2009, or 0.8% of the total number of class B shares.

Ownership
At year-end 2009, Höganäs had 7,469 (7,360) shareholders, up 1.5% on year-end 2008. The three largest shareholders in terms of capital were Lindéngruppen AB, AB Industrivärden and Didner & Gerge aktiefond (equity mutual fund) with a total of 3.9% of the votes and 41.8% of the capital.

82.4% (81.6) of Höganäs AB’s share capital is held by Swedish investors and 17.6% (18.4) by foreign investors. The largest foreign ownership is in the UK and US with 8.8% and 3.2% of the capital respectively. 30.4% (33.4) of Swedish-held Höganäs shares are held by institutions, 22.4% (18.3) by mutual funds and 29.6% (29.9) by private individuals. Swedish institutions increasing their holdings include Lannebo Fonder, which is now the sixth largest shareholder and SHB Fonder, now the eighth, and new among the ten largest shareholders. The Norwegian Government is a completely new shareholder, new among the ten largest shareholders, and with 1.3% of the capital, is the ninth largest shareholder.

Dividend
The Board of Directors’ intention is to maintain annual dividend levels of some 30-50% of net income. Dividends should reflect Höganäs’ profit levels, outlook for the future, cash flow and investment need and other relevant factors. Höganäs endeavours to maintain fairly even growth of dividends. For the financial year 2009, the Board of Directors proposes a dividend of SEK 3.00, equivalent to a dividend yield of 1.8% per share, calculated on the closing price for the year. Since its initial public offering, Höganäs has had an average annual dividend yield of 2.9%.

History of the share
Höganäs was first listed on the Stockholm Stock Exchange back in 1903, when it was called Höganäs Billesholm. In 1987, Lindéngruppen AB acquired all the shares of the Company, resulting in a de-listing. The Höganäs share was re-listed on the Stockholm Stock Exchange in April 1994 and now trades on the Mid Cap list. Lindéngruppen AB remains the Company’s largest shareholder.

Investor relations
Höganäs held a large number of meetings with representatives of financial institutions in Höganäs, Stockholm and London in 2009. Höganäs arranges regular presentations and investor meetings when publishing its interim and year-end reports.