Elcoteq SE's A shares are quoted on the Helsinki Stock Exchange and they belong to the book-entry securities system maintained by the Finnish Central Securities Depository Ltd. Elcoteq's company code on the Helsinki Stock Exchange is ELQ and the trading code for the A Shares is ELQAV.
Elcoteq SE was redomiciled to the city of Luxembourg in the Grand Duchy of Luxembourg on January 1, 2008. Before the transfer of domicile the company had two classes of shares, Series A and Series K. As stated in the Report by the Board of Directors, K shares were converted into K founders’ shares and their number increased ten-fold while at the same time reducing their par value to one-tenth of the par value of the A shares. This was done because according to the Luxembourg legislation all shares must have equal voting power (one vote per share principle). According to the Articles of Association the economic rights conferred by the Elcoteq shares are determined in proportion to the par value of the shares, and the K founders’ shares may be converted into A shares only in the ratio 10:1. In practice this means that the differences in voting power conferred by the two share series, and their economic rights, have remained unchanged after the domicile transfer.
There are 22,025,919 A shares and 105,770,000 K founders’ shares, making a total of 127 795 919 Elcoteq shares. The nominal value of the series A shares is EUR 0.4 per share and of the K founder’s shares EUR 0.04. Hence the nominal value of A shares and K founders' shares totals EUR 13,041,167.60.
The Articles of Association stipulate that the number of K founder’ shares may not be increased. All K founder’s shares are held by Antti Piippo, Henry Sjöman and Jorma Vanhanen, who owned the whole company before the initial public offering. There have been no changes in the holdings of the K founders’ shares since the initial public offering or the domicile transfer.