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Shareholders

Wärtsilä had approximately 39,200 shareholders at the end of the financial period 2016. Foreign shareholding, including nominee-registered shares, represented 55% (52) at the end of the period, and Finnish retail investors held 18% of the share capital (19). The largest shareholder was Investor AB with 34,866,544 shares or 18% of the share capital.

Further information concerning shareholder base development can be found on the Wärtsilä IR pages at www.wartsila.com/investors.

 

Ownership structure on 31 December 2016
Group Number of shareholders % Number of shares %
Private corporations 1 415 3.6 15 889 818 8.1
Banks and insurance companies 67 0.2 2 916 223 1.5
Public sector entities 40 0.1 19 597 419 9.9
Non-profit organisations 829 2.1 14 162 895 7.2
Households 36 590 93.3 36 284 986 18.4
Outside Finland 296 0.8 37 402 547 19.0
Nominee registered 70 987 242 36.0
Total 39 237 100.0 197 241 130 100.0
eng_Ownership_structure.svg
Division of shares on 31 December 2016
Number of shares Number of shareholders % Number of shares %
1-100 12 075 30.8 629 925 0.3
101-1 000 19 520 49.7 7 830 647 4.0
1 001-10 000 6 949 17.7 19 066 769 9.7
10 001-100 000 621 1.6 14 991 703 7.6
100 001-1 000 000 63 0.2 17 079 570 8.7
1 000 001-10 000 000 6 0.0 10 646 775 5.4
10 000 001- 3 0.0 56 008 499 28.4
Nominee registered 70 987 242 36.0
Total 39 237 100.0 197 241 130 100.0
Wärtsilä's 50 major shareholders on 31 December 2016, excl. nominee registered
Owner Shares %
1 Avlis Invest AB 34 866 544 17.68
2 Fiskars Corporation 10 881 781 5.52
3 Varma Mutual Pension Insurance Company 10 260 174 5.20
4 Ilmarinen Mutual Pension Insurance Company 2 195 104 1.11
5 Svenska Litteratursällskapet i Finland Rf 2 103 434 1.07
6 The Social Insurance Institution of Finland 1 935 910 0.98
7 State Pension Fund 1 800 000 0.91
8 Elo Mutual Pension Insurance Company 1 505 000 0.76
9 Keva 1 107 327 0.56
10 Jenny and Antti Wihuri Foundation 1 000 000 0.51
11 Schweizerische Nationalbank 975 396 0.49
12 The Finnish Cultural Foundation 970 442 0.49
13 Sigrid Jusélius Foundation 964 475 0.49
14 Savox Investments S.a. 694 000 0.35
15 Oy Ingman Finance Ab 600 000 0.30
16 The Signe and Ane Gyllenberg Foundation 544 888 0.28
17 Samfundet Folkhälsan i Svenska Finland rf 533 900 0.27
18 Rantanen Tuula Anneli 505 066 0.26
19 Svenska Kulturfonden i Björneborg 394 010 0.20
20 Louise och Göran Ehrnrooth Stiftelse 377 630 0.19
21 Livränteanstalten Hereditas Ab 359 690 0.18
22 Blåberg Olli Edvard 320 000 0.16
23 Mandatum Henkivakuutusosakeyhtiö 318 064 0.16
24 Folkhälsan i Svenska Finland rf Inez och Julius Polins Fond 316 800 0.16
25 Von Fieandt Berndt Johan 308 492 0.16
26 Folkhälsans Forskningsstiftelse - Kansanterveyden tutkimussäätiö 287 268 0.15
27 Sijoitusrahasto Aktia Capital 280 000 0.14
28 William Thurings Stiftelse 278 050 0.14
29 Fromond Elsa Margaretha Louise 275 500 0.14
30 Stockmann Marita 271 226 0.14
31 Danske Invest Suomi Yhteisöosake 269 274 0.14
32 Tallberg Carl Johan 260 582 0.13
33 Holding Manutas Oy 255 000 0.13
34 Sijoitusrahasto Nordea Suomi 240 812 0.12
35 SEB Finlandia Sijoitusrahasto 238 029 0.12
36 Odin Finland 221 654 0.11
37 Blomberg Anne-Sofie Marie 221 266 0.11
38 Holdix Oy Ab 217 000 0.11
39 Brita Maria Renlund Foundation 213 600 0.11
40 Markkola Leena 171 800 0.09
41 Barry Staines Linoleum Oy 166 570 0.08
42 Perceval Ann-Marie Caussin De 166 280 0.08
43 Relander Harald Bertel 164 566 0.08
44 Sijoitusrahasto Seligson & Co 160 477 0.08
45 Karlsson Anne Christine 160 000 0.08
46 Etera Mutual Pension Insurance Company 154 679 0.08
47 Bergsr. Dr H.C. Marcus Wallenbergs
stiftelse för företagsekonomisk forskning rf
151 700 0.08
48 Brotherus Pia Monica 151 002 0.08
49 Seligson & Co Suomi Indeksirahasto 150 726 0.08
50 Finska Läkaresällskapet rf 143 900 0.07
Total 81 109 088 41.12

Changes in ownership – flagging notifications

Under the provisions of the Finnish Securities Markets Act, shareholders of listed companies have an obligation to notify both the Finnish Financial Supervision Authority and the listed company of changes in their holdings. The below table summarises the flagging notifications received by Wärtsilä during 2016, further information can be found on Wärtsilä’s webpage.

Flagging notifications in 2016
Release date Transaction date Shareholder Threshold Direct holding, % Total holding, %
29.4.2016 27.4.2016 BlackRock Investment Management (UK) Above 5% 4.88 5.01
6.5.2016 3.5.2016 BlackRock Investment Management (UK) Above 5% 5.01 5.13
26.8.2016 25.8.2016 BlackRock Investment Management (UK) Below 5% - -
19.9.2016 16.9.2016 BlackRock Investment Management (UK) Above 5% 5.00 5.01
22.9.2016 21.9.2016 BlackRock Investment Management (UK) Below 5% - -
26.9.2016 23.9.2016 BlackRock Investment Management (UK) Above 5% 5.05 5.06
15.12.2016 14.12.2016 BlackRock Investment Management (UK) Below 5% - -
The total number of shares held by BlackRock, Inc. has remained above 5% of Wärtsilä’s share capital and total votes throughout the year.

Management holdings

The members of the Board of Directors, the CEO, the CEO's deputy, and the corporations under their control, owned altogether 72,776 Wärtsilä Corporation shares at the end of 2016, which represents 0.04% of the stock and voting rights.

Further details on the Board of Directors' and Board of Management’s ownership of shares can be found in the Corporate Governance section.

Authorisations granted to the Board of Directors

The Annual General Meeting, held on 3 March 2016, 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 of the shareholders’ meeting.

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 5 March 2015. The Board of Directors is authorised to resolve to whom and in which order the own shares will be distributed. The Board of Directors is authorised to decide on the distribution of the Company’s own shares otherwise than in proportion to the existing pre-emptive right of the shareholders to purchase the Company’s own shares.

The Board of Directors was authorised to resolve on donations of EUR 1,300,000 at the maximum to be made to universities during 2016 and 2017. The most significant recipient of the donations would be Aalto University.

The Board of Directors' dividend proposal

The Board of Directors proposes that a dividend of 1.30 euro per share shall be distributed for the financial period that ended on 31 December 2016. The dividend shall be paid in two equal instalments.

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