Shares and shareholders

Share capital and shares

Tieto Corporation’s issued and registered share capital on 31 December 2017 totaled EUR 76 555 412.00 and the number of shares was 74 109 252.

Tieto’s shares have no par value and their book counter value is one euro. Tieto’s shares are listed on NASDAQ in Helsinki and Stockholm. The company has one class of shares, with each share conferring equal dividend rights and one vote. The company’s Articles of Association include a restriction on voting at the Annual General Meeting, where no-one is allowed to vote with more than one-fifth of the votes represented at the meeting. The Articles of Association are available at www.tieto.com/investors.

Shareholders and holding of own shares

The company had 26 430 registered shareholders at the end of 2017. Based on the ownership records of the Finnish and Swedish central securities depositories, 38.1% of Tieto’s shares were held by Finnish and 3.7% by Swedish investors. In total, there were 24 816 retail investors in Finland and Sweden and they held 12% of Tieto’s shares.

The members of the Board of Directors, the President and CEO and their close associates together held 0.1% of the shares and votes registered in the book-entry system on 31 December 2017. The President and CEO is also participating in Tieto’s long-term share-based incentive plans. Potential rewards will be paid partly in Tieto shares. As the number of additional shares related to these incentives is dependent on the company’s performance these are not included in this aggregate number.

Tieto has three longer-term shareholders holding 10% or more of the shares: Cevian Capital Partners Ltd, Solidium Oy and Silchester International Investors LLP. Based on the latest information (31 August 2017), Cevian Capital's holding was 11 066 684 shares, representing 14.9% of the shares and voting rights. Solidium Oy held 10.0% of Tieto’s shares on 31 December 2017. Based on its announcement made on 23 June 2015, Silchester International Investors LLP’s aggregate holding in Tieto was 7 401 027 shares, which represents 10.0% of the shares and voting rights.

Tieto is not aware of any shareholder agreements or cross-shareholdings that would limit the amount of shares available for trading. The free float of the shares can be considered to be 100% excluding the treasury shares currently held by the company.

At the end of 2017, the number of shares in the company’s or its subsidiaries’ possession totalled 386 127 representing 0.5% of the total number of shares and voting rights. Related to the company’s share-based reward plan, a total of 25 555 shares held by Tieto were transferred to the participants of the plan. The number of outstanding shares, excluding the treasury shares, was 73 723 125 at the end of the year.

Share-based incentives

Tieto has established share-based incentive plans, a Performance Share Plan 2015, 2016 and 2017 and a Restricted Share Plan 2015, 2016 and 2017. The potential rewards will be paid partly in the company’s shares and partly in cash, respectively in 2018, 2019 and 2020. The share rewards to be delivered to the participants will consist of shares to be acquired from the market. Thus, the incentive plan will have no dilutive effect.

The rewards to be paid on the basis of the plans, correspond to the value of an approximate maximum total of 1 440 000 Tieto shares (including the proportion to be paid in cash).

The company has not issued any bonds with warrants nor has any stock options programmes.

Board authorizations

The 2017 Annual General Meeting authorized the Board of Directors to decide on the repurchase of the company's own shares. The amount of own shares to be repurchased shall not exceed 7 400 000 shares, which currently corresponds to approximately 10% of all the shares in the company. The authorization is intended to be used to develop the company’s capital structure.

Share performance and trading

In 2017, the turnover of Tieto’s shares totalled EUR 963.9 million (35 895 771 shares) in Helsinki and SEK 658.5 million (2 540 715 shares) in Stockholm. The combined trading volume represented 52% of the shares. On NASDAQ Helsinki, the volume-weighted average share price in 2017 was EUR 26.85. At the end of the year, the share price was EUR 25.98. The highest price was EUR 29.98 and the lowest EUR 24.39. At the end of the year, the company’s market capitalization totalled EUR 1 925.4 (1 920.9) million. The share price remained at the year-end 2016 level in Helsinki and rose by 2% in Stockholm during the year. At the same time, the OMX Helsinki Price Index rose by 6%. The OMX Stockholm Price Index was up by 6% in 2017.

In addition to NASDAQ Helsinki and Stockholm, Tieto’s share is traded on multilateral trading facilities (MTF). Shares were traded at least on Chi-X, Turquoise and BATS Europe. The aggregate number of Tieto’s shares traded on these marketplaces was 16 858 929 shares, or approximately 30% of the total trading volume.

For additional information on shares and shareholders, see www.tieto.com/Investors/Shares.

Share price development and turnover, Helsinki
Share price development and turnover, Stockholm
Dividend/share
Market capitalization
Major shareholders on 31 December 2017
 
Shares %
1 Cevian Capital 1) 11 066 684 14.9
2 Solidium Oy 7 415 418 10.0
3 Silchester International Investors LLP 2) 7 401 027 10.0
4 Swedbank Robur fonder 1 883 968 2.5
5 Ilmarinen Mutual Pension Insurance Co. 1 571 423 2.1
6 Elo Pension Co. 838 648 1.1
7 The State Pension fund 773 000 1.0
8 Nordea Funds 758 259 1.0
9 OP-Finland Value Fund 675 050 0.9
10 Svenska litteratursällskapet i Finland r.f. 541 345 0.7
  Top 10 shareholders total 32 924 822 44.4
  - of which nominee registered 20 351 679 27.5
       
  Nominee registered other 24 968 124 33.7
  Others 16 216 306 21.9
  Total 74 109 252 100.0
       
Based on the ownership records of Euroclear Finland Oy and Euroclear Sweden AB.
       
 
Ownership structure
Number of shares Shareholders Shares
  No % No %
1 - 100 6 208 37.6 345 997 0.5
101 - 500 6 530 39.6 1 714 897 2.3
501 - 1 000 1 878 11.4 1 445 035 1.9
1 001 - 5 000 1 551 9.4 3 316 236 4.5
5 001 - 10 000 165 1.0 1 157 943 1.6
10 001 - 50 000 101 0.6 2 247 258 3.0
50 001 - 100 000 23 0.1 1 515 929 2.0
100 001 - 500 000 25 0.2 5 214 046 7.0
500 001 - 10 0.1 57 141 351 77.1
 
Based on the ownership records of Euroclear Finland Oy
Changes in share capital
(1 share = 1 vote)
Shares Share capital, EUR
Total on 31 December 2006 75 841 462 75 841 462
Nullifying of the company’s own shares, registered in 2007 1 883 350 0
Bonds with options subscribed, registered in 2007 61 61
Nullifying of the company’s own shares, registered in 2008 1 935 000 0
Total on 31 December 2011 72 023 173 75 841 523
Subscriptions with stock options, registered in 2012 354 040 110 651
Total on 31 December 2012 72 377 213 75 952 174
Subscriptions with stock options, registered in 2013 755 154 603 238
Total on 31 December 2013 73 132 367 76 555 412
Subscriptions with stock options, registered in 2014 543 536 0
Total on 31 December 2014 73 675 903 76 555 412
Subscriptions with stock options, registered in 2015 334 050 0
Total on 31 December 2015 74 009 953 76 555 412
Subscriptions with stock options, registered in 2016 99 299 0
Total on 31 December 2016 74 109 252 76 555 412
Subscriptions with stock options, registered in 2017 0 0
Total on 31 December 2017 74 109 252 76 555 412
Trading codes
NASDAQ OMX Helsinki TIEV
NASDAQ OMX Stockholm TIEN
Thomson Reuters, Helsinki TIE1V.HE
Thomson Reuters, Stockholm TIEN.ST
Bloomberg, Helsinki TIE1V FH
Bloomberg, Stockholm TIEN SS
ISIN Code FI0009000277