SHAREHOLDER

INFORMATION

Odfjell’s aim is to provide a competitive long-term return on the investments for its shareholders. The Company embraces an investor-friendly dividend policy, and targets regular dividend payments at sustainable levels. We comply with the code of practice for reporting and information as advised by Oslo Stock Exchange.

SHARE PERFORMANCE

At year-end 2016, Odfjell A- and B-shares were trading at NOK 29.30 and NOK 28.00 respectively, compared to NOK 28.30 and NOK 26.50 respectively at the close of 2015. In the same period the Oslo Stock Exchange Benchmark Index increased by 12% and the Transportation Index increased by 17%.

At 31 December 2016, Odfjell SE had a market capitalisation of NOK 2,277 million, which was equivalent to around USD 263 million. Including our 8.2 million treasury shares the market capitalisation was USD 291 million.

Based on the Company's 2016 results, including the profit from the sale of the Oman terminal, the Board recommends a dividend of NOK 1.50 per share, totalling NOK 117,832,950.

TRADING VOLUMES

In 2016 about 17.1 million Odfjell shares were traded; 11.5 million A-shares and 5.7 million B-shares. This represents about 20% of the issued shares. At year-end 2016 Odfjell had outstanding 65.7 million A-shares and 21.1 million B-shares.

SHAREHOLDERS

At the end of 2016 there were 1,250 holders of Odfjell A-shares and 523 holders of Odfjell B-shares. The total number of shareholders was 1,471 reflecting that some shareholders own shares in both classes.

Year end 2016 Odfjell SE held 5,891,166 A-shares and 2,322,482 B-shares as treasury shares, representing 9.5% of the issued shares

INVESTOR OWNERSHIP

64% of the Company’s A-shares and 48% of the B-shares were held by international investors at the end of the year, equivalent to 60% of the total share capital.

INVESTOR RELATIONS

Accurate and timely information is of vital importance in order to create credibility and confidence. Our policy is to provide the market with all relevant information in line with statutory regulations and the recommendations of the Oslo Stock Exchange. 

We attach great importance to ensure that shareholders receive swift, relevant and correct information about the Company. Our aim is to provide a good understanding of the Company’s activities and its prospects so that shareholders are in a good position to assess the share’s trading price and underlying value.

share capital history 

YEAR

EVENT

amount in NOK

share capital

AFTER EVENT

1986

Public offering

9 390 000

28 170 000

1986

Capitalisation bonus issue

2 817 000

30 987 000

1988

Capitalisation bonus issue

6 197 400

37 184 400

1989

Capitalisation bonus issue

7 436 880

44 621 280

1989

International private placement

10 000 000

54 621 280

1990

Capitalisation bonus issue

54 621 280

109 242 560

1994

Capitalisation bonus issue

109 242 560

218 485 120

2000

Private placement

49 267 340

267 752 460

2001

Redemption of treasury shares

-13 657 500

254 094 960

2002

Redemption of treasury shares

-25 409 490

228 685 470

2003

Redemption of treasury shares

-11 763 100

216 922 370

2004

Share split 2:1

0

216 922 370

2005

Share split 2:1

0

216 922 370

2006-2016

No events

0

216 922 370

       

20 largest shareholders as per 31 December 2016 (based on shareholders analysis) 

  Name A-shares B-shares Total Percent of votes Percent of shares

1

Laurence Ward Odfjell1)

25 966 492

3 999 393

29 965 885

43.42 %

34.54 %

2

Odfjell SE

5 891 166

2 322 482

8 213 648

2)

9.47 %

3

Pareto Forvaltning

1 953 971

1 641 184

3 595 155

3.27 %

4.14 %

4

BW Euroholdings

3 284 334

230 674

3 515 008

5.49 %

4.05 %

5

Rederiet Odfjell AS

3 497 472

 

3 497 472

5.85 %

4.03 %

6

Odfjell Shipping Bermuda

2 750 000

715 760

3 465 760

4.60 %

3.99 %

7

Tufton Oceanic

3 182 161

 

3 182 161

5.32 %

3.67 %

8

JP Morgan International

1 071 400

1 600 800

2 672 200

1.79 %

3.08 %

9

Nordea Asset Management

922 763

1 668 870

2 591 633

1.54 %

2.99 %

10

Holmen Fund Management

1 700 000

 

1 700 000

2.84 %

1.96 %

11

KLP

1 009 585

223 534

1 233 119

1.69 %

1.42 %

12

B.O. Steen Shipping AS

239 111

870 889

1 110 000

0.40 %

1.28 %

13

Credit Suisse Private Banking

550 800

288 500

839 300

0.92 %

0.97 %

14

AS SS Mathilda

600 000

150 000

750 000

1.00 %

0.86 %

15

Svante Berger

 

750 000

750 000

0.00 %

0.86 %

16

Pactum AS

 

740 000

740 000

0.00 %

0.85 %

17

Kurt Magnus Richard Berger

732 400

 

732 400

1.22 %

0.84 %

18

Wimoh Invest AS

 

700 000

700 000

0.00 %

0.81 %

19

DNB as marketmaker

452 409

 

452 409

0.76 %

0.52 %

20

Bergen Communale Pensjonskasse

200 000

250 000

450 000

0.33 %

0.52 %

 

Total 20 largest shareholders

54 004 064

16 152 086

70 156 150

80.46 %

80.85 %

 

Other shareholders

11 686 180

4 926 618

16 612 798

19.54 %

19.15 %

 

Total

65 690 244

21 078 704

86 768 948

100.00 %

100.00 %

             

1) Shares owned/controlled by Laurence Ward Odfjell

2) No voting rights for own shares ref. Public Limited Companies Act § 5 - 4

Source: Shareholder analysis conducted by RD:IR.

For a list of the 20 largest shareholders of 31 December 2016 from the Norwegian Central Securities Depositary (VPS), see Note 17 in Notes to the financial statements to Odfjell SE.