On 1 December 1999, Cybercom’s share was quoted on the Stockholm stock exchange (now NASDAQ OMX Stockholm). During 2008, Cybercom implemented a directed share issue to Plenware shareholders in partial payment. Adjusted for this, the share price of SEK 12.80 represents a 76% decline. The share trades under the CYBE designation. A round lot consists of 200 shares.
Share capital
Due to the share issue, Cybercom’s share capital rose to SEK 24.6 million (22.4) on 31 December 2008 – distributed over 24,584,840 shares (22,384,362). All shareholders have equal right to a share of the company’s assets and profits. The share’s quota value is 1. There were no outstanding warrants in early 2008. During the year, 390,000 warrants were issued, comparable to the same number of shares. Of these, 267,534 were custodial warrants. There were 122,466 outstanding warrants at year-end.
Stock price trend and sales
Cybercom’s share price fell 76% – more than the 51% decline experienced over the same period by the OMX Stockholm IT Services index (which includes Cybercom’s share). OMX Stockholm All-Share (the exchange’s general index) fell 42%. At year-end, Cybercom’s share closed at SEK 12.80. Its highest price during the year was SEK 57.75, and its lowest was SEK 10.90. At year-end 2008, Cybercom’s market value was SEK 314 million (1,298). During the year, 9,620,917 (12,926,852) shares were traded for a value of SEK 334 million (723). On average, 38,178 shares (51,707) were traded each day, which translates to SEK 1.3 million (2.9) per trading day. In 2008, 10,457 Cybercom share transactions (13,304) were completed on the Stockholm exchange, which is an average of 41 transactions per trading day. The average share price was SEK 35.67 (48.95), and the annual turnover rate was 40% (84). The average price spread was 1.68% (1.28), and share transactions were completed on 100% of trading days.
Shareholders
At year-end there were 3,270 (3,191) registered shareholders, of whom 61% (60) owned 500 or fewer shares. Swedish institutional shareholders owned 77.3% (76.8), and Swedish private shareholders owned 11.6% (12.6). Foreign shareholders owned 11.1% (9.6), of whom 7.6% were institutional and 3.5% private shareholders. Executive shareholders owned 4.3% (1.0). Board authorisation for emission and buy back of Cybercom shares AGM participants in 2008 authorised the board – on one or more occasions in the interim before the 2009 AGM – to decide on (i) increases in Cybercom's share capital via new issues that together total no more than 12,500,000 shares and (ii) reductions in Cybercom’s share capital via buy backs of shares that together total no more than 10% of Cybercom’s share capital. The board did not exercise its mandate to buy back shares during 2008.
| JCE Group AB |
9,260,922 |
37.67 |
| Skandia Liv |
3,057,600 |
12.44 |
| Swedbank Robur Fonder |
1,043,600 |
4.24 |
| Didner & Gerge Aktiefond |
972,329 |
3.95 |
| Andra AP-Fonden |
889,411 |
3.62 |
| Okobank OY |
797,558 |
3.24 |
| Sention Kasvurahasto |
636,111 |
2.59 |
| Skarpebo Invest AB |
509,200 |
2.07 |
| JP Morgan Bank |
434,600 |
1.77 |
| Banque Carnegie Luxembourg SA |
328,980 |
1.34 |
| EQ Pikkujättiläiset |
300,000 |
1.22 |
| Handelsbankens Småbolagsfond |
274,620 |
1.12 |
| Länsförsäkringar Småbolagsfond |
250,600 |
1.02 |
| Kungliga Vetenskapsakademien |
210,000 |
0.85 |
| Lannebo Småbolag |
150,000 |
0.61 |
| Others |
5,469,309 |
22.25 |
| Total |
24,584,840 |
100.00 |
| 1 – 500 |
2,007 |
341,173 |
1.39 |
4,367 |
| 501 – 1,000 |
541 |
455,025 |
1.85 |
5,824 |
| 1,001 – 5,000 |
532 |
1,229,161 |
5.00 |
15,733 |
| 5,001 – 10,000 |
88 |
659,080 |
2.68 |
8,436 |
| 10,001 – 15,000 |
26 |
327,851 |
1.33 |
4,196 |
| 15,001 – 20,000 |
22 |
393,363 |
1.60 |
5,035 |
| 20,001 – |
54 |
21,179,187 |
86.15 |
271,094 |
| Total |
3,270 |
24,584,840 |
100.00 |
314,686 |
Dividend policy for fiscal 2008
Cybercom’s board intends to secure Cybercom’s growth. The Group’s investment needs and financial position will always be considered before dividend-related decisions are made. The board proposes to the AGM that no dividend be issued for the 2008 fiscal year (2007 dividend SEK 0). Disclosure requirements for public takeover bids In 2008, Swedish Annual Accounts Act disclosure requirements – relating to public takeover bids – became more stringent. The requirements now also apply to companies that prepare consolidated accounts per IFRS. These requirements are in Chapter 6, section 2a of the Annual Accounts Act, and state that information must be disclosed, where applicable.
If a material change in ownership occurs, then certain customers have the opportunity to terminate their agreements with the company. Certain senior executives may also receive remuneration from the company if employment is terminated due to a change in ownership.
