Wärtsilä Corporation Annual report 2014

Shareholders

Wärtsilä had approximately 42,280 shareholders at the end of the financial period 2014. Foreign shareholding, including nominee-registered shares, represented 48% (51) at the end of the period, and Finnish retail investors held 20% of the share capital (21). The largest shareholder was Investor AB with 33,366,544 shares, after the dissolution of Fiskars and Investors’ joint venture in October and the related changes in shareholding.

Further information concerning developments in Wärtsilä's shareholder base can be found on the IR pages www.wartsila.com/investors.

Ownership structure on 31 December 2014
Group Number of shareholders % Number of shares %
Private corporations 1 888 4.5 16 170 670 8.2
Banks and insurance companies 85 0.2 6 518 043 3.3
Public sector entities 47 0.1 22 138 256 11.2
Non-profit organisations 916 2.2 17 535 347 8.9
Households 39 015 92.3 40 045 768 20.3
Outside Finland 328 0.8 36 133 669 18.3
Nominee registered 58 699 377 29.8
Total 42 279 100.0 197 241 130 100.0
Division of shares on 31 December 2014
Number of shares Number of shareholders % Number of shares %
1-100 12 039 28.5 667 346 0.3
101-1 000 21 599 51.1 8 707 294 4.4
1 001-10 000 7 810 18.5 21 485 983 10.9
10 001-100 000 752 1.8 18 359 237 9.3
100 001-1 000 000 67 0.2 18 485 962 9.4
1 000 001-10 000 000 10 0.0 27 209 213 13.8
10 000 001- 2 0.0 43 626 718 22.1
Nominee registered 58 699 377 29.8
Total 42 279 100.0 197 241 130 100.0

 

Wärtsilä's 50 major shareholders on 31 December 2014, excl. nominee registered
Owner Shares %
1 Avlis Invest AB 33 366 544 16.92
2 Varma Mutual Pension Insurance Company 10 260 174 5.20
3 Fiskars Corporation 9 881 781 5.01
4 Ilmarinen Mutual Pension Insurance Company 3 978 914 2.02
5 Svenska Litteratursällskapet i Finland 2 743 352 1.39
6 Elo Mutual Pension Insurance Company 2 140 088 1.09
7 The Social Insurance Institution of Finland 1 935 910 0.98
8 State Pension Fund 1 850 000 0.94
9 Kuntien eläkevakuutus 1 211 204 0.61
10 Jenny and Antti Wihuri Foundation 1 200 000 0.61
11 Mandatum Henkivakuutusosakeyhtiö 1 197 064 0.61
12 Sigrid Jusélius Foundation 1 070 900 0.54
13 The Finnish Cultural Foundation 970 000 0.49
14 Schweizerische Nationalbank 870 484 0.44
15 Sijoitusrahasto Nordea Fennia 771 229 0.39
16 Savox Investments S.A. 730 000 0.37
17 The Signe and Ane Gyllenberg Foundation 614 888 0.31
18 Livränteanstalten Hereditas 605 498 0.31
19 Samfundet Folkhälsan i Svenska Finland rf 581 948 0.30
20 Ingman Finance Oy Ab 575 000 0.29
21 OP-Delta Equity Fund 525 798 0.27
22 Rantanen Tuula Anneli 505 066 0.26
23 Folkhälsan i Svenska Finland rf Inez och Julius Polins Fond 503 912 0.26
24 Sijoitusrahasto Nordea Pro Suomi 449 500 0.23
25 Sijoitusrahasto SEB Finlandia 396 732 0.20
26 Svenska Kulturfonden i Björneborg 394 010 0.20
27 Louise och Göran Ehrnrooth Stiftelse 377 630 0.19
28 Brita Maria Renlund Foundation 348 000 0.18
29 Op-Focus Erikoissijoitusrahasto 345 000 0.17
30 Blåberg Olli Edvard 320 000 0.16
31 William Thurings Stiftelse 309 200 0.16
32 Von Fieandt Johan 308 492 0.16
33 Fromond Elsa 300 956 0.15
34 Ella and Georg Ehrnrooth Foundation 300 280 0.15
35 Folkhälsans Forskningssiftelse - Kansanterveyden tutkimussäätiö 299 286 0.15
36 Sijoitusrahasto Aktia Capital 290 000 0.15
37 Stockmann Marita 271 226 0.14
38 Tallberg Carl Johan 260 582 0.13
39 Sijoitusrahasto Seligson & Co 257 848 0.13
40 Åbo Akademi Foundation 252 610 0.13
41 Keskinäinen Vakuutusyhtiö Kaleva 241 751 0.12
42 Odin Finland 232 780 0.12
43 Blomberg Anne-Sofie Marie 221 266 0.11
44 Sr Danske Invest Suomi Yhteisöosake 215 714 0.11
45 Sr Danske Invest Suomi Osake 204 021 0.10
46 Relander Harald 180 000 0.09
47 Markkola Leena 171 000 0.09
48 Barry Staines Linoleum Oy 166 570 0.08
49 Valion Eläkekassa 166 357 0.08
50 Perceval Ann-Marie Caussin De 166 280 0.08
Total 85 536 845 43.37

Changes in ownership – flagging notifications

During 2014, Wärtsilä was informed of the following changes in ownership:

On 19 September 2014, Wärtsilä was informed that Fiskars, Investor and their joint venture Avlis AB had signed an agreement, which would result in the following changes in ownership:

Avlis Invest AB acquires 15,759,566 shares or 7.99% of Wärtsilä’s share capital and total votes from Avlis AB. All Avlis Invest AB’s shares are distributed to Invaw Holding AB, a wholly-owned subsidiary of Investor AB. Fiskars acquires 9,881,781 shares or 5.01% of Wärtsilä’s share capital and total votes from Avlis AB. The shareholder’s agreement between Fiskars and Investor is terminated and their joint venture, which held 42,948,325 shares, representing 21.77% of Wärtsilä’s share capital and total votes, dissolved. Following the transaction Investor AB’s indirect ownership in Wärtsilä is 33,066,544 shares or 16.76% of Wärtsilä’s share capital and total votes, while Fiskars Group’s direct ownership is 9,881,781 shares or 5.01% of Wärtsilä’s share capital and total votes.

On 9 October 2014, Wärtsilä was informed that the agreement had been completed. Consequently, the above changes in holdings have taken place and the shareholder's agreement has been terminated.

Management holdings

The members of the Board of Directors, the CEO, the CEO's deputy, and the corporations under their control, owned altogether 913,853 Wärtsilä Corporation shares at the end of 2014, which represents 0.5% of the stock and voting rights.

The Board of Directors' share ownership in Wärtsilä on 31 December 2014

Authorisations granted to the Board of Directors

The Annual General Meeting, held on 6 March 2014, authorised the Board of Directors to resolve to repurchase a maximum of 19,000,000 of the Company's own shares. The authorisation to repurchase the Company’s own shares shall be valid until the close of the next Annual General Meeting, however no longer than for 18 months from the authorisation.

The Board of Directors was authorised to resolve to distribute a maximum of 19,000,000 of the Company’s own shares. The authorisation for the Board of Directors to distribute the Company’s own shares shall be valid for three years from the authorisation of the shareholders’ meeting and it cancels the authorisation given by the General Meeting on 7 March 2013. The Board of Directors is authorised to resolve to whom and in which order the Company’s own shares will be distributed. The Board of Directors is authorised to decide on the distribution of the Company’s own shares other than in proportion to the existing pre-emptive right of the shareholders to purchase the Company’s own shares.

The Board of Directors' dividend proposal

The Board of Directors proposes that a dividend of 1.15 euro per share is to be distributed for the financial period that ended on 31 December 2014.

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