in terms of population by 2030
To our shareholders
The number of Marel's shareholders was recorded in the shareholders' register to be 1,846 at year-end 2013, compared to 2,144 shareholders at year-end 2012. As of 31 December 2013, Marel held 117,300 treasury shares.
Eyrir Invest hf. is Marel's largest shareholder, with 29.3% of shares, followed by Grundtvig Invest A/S (8.4%) and Lífeyrissjóður verzlunarmanna – the Pension Fund of Commerce (8.1%).
The ten largest shareholders held 70.3% of the total shares. In total, Icelandic pension funds held 31.1% of Marel's share capital. International shareholding was 17.0% at year-end 2013. The free float of Marel shares was 71% and free float adjusted market value of the company was EUR 433 million.
|Shareholders||No of shares||%|
|1. Eyrir Invest ehf||Investment company||215,366,838||29.3%|
|2. Grundtvig Invest A/S||Investment company||61,560,494||8.4%|
|3. Lífeyrissjóður verzlunarmanna||Pension fund||59,275,042||8.1%|
|4. Gildi - lífeyrissjóður||Pension fund||36,139,331||4.9%|
|5. Columbia Acorn International||Asset management||35,982,499||4.9%|
|6. Lífeyrissjóður starfsmanna ríkisins (A & B division)||Pension fund||31,350,000||4.3%|
|7. Stefnir – ÍS 15||Asset management||26,785,199||3.6%|
|8. Stafir lífeyrissjóður||Pension fund||17,322,964||2.5%|
|9. Sameinaði lífeyrissjóðurinn||Pension fund||16,564,347||2.3%|
|10. Stapi lífeyrissjóður||Pension fund||15,233,239||2.1%|
|Top 10 total||517,012,078||70.3%|
|Total issued shares||735,568,997||100.0%|
At year-end, Marel's shares totaled 735.6 million, all in one class; thereof Marel holds 0.1 million treasury shares.
In 2013, Marel purchased 4.7 million shares for EUR 4.2 million to fulfil stock option obligations, and sold 8.7 million treasury shares for a total amount of EUR 4.7 million to fulfil the employees' stock option program.
Stock options are granted to management and selected key employees. Total granted and unexercised stock options at end of the year 2013 were 18.1 million shares, of which 5.0 million were exercisable at the end of 2013 and the remainder will become exercisable in the years 2014 to 2018.
At the company's 2010 Annual General Meeting, the shareholders authorized the Board of Directors to increase the company's share capital by 45 million shares to fulfil stock option agreements. Thereof, 8.4 million shares have been issued at end of 2013.
Marel has made agreements with Landsbankinn hf. and MP Bank hf. regarding market making for the issued shares of Marel. The purpose of the agreements is to improve liquidity and to enhance transparent price formation in the company's shares on NASDAQ OMX Iceland. The duration of these agreements is unspecified but they can be terminated with one month's notice.
Shares in Marel were traded 1,831 times in 2013 for a total market value of ISK 28.8 billion (up from ISK 27.4 billion in 2012), which corresponds to a turnover rate of 28.0%.
This places Marel with the third highest turnover on the NASDAQ OMX Nordic Exchange Iceland in 2013. The average end-of-day spread of Marel was 0.93%. The market value of the company at year-end 2013 was ISK 97.8 billion (EUR 612.8 million) compared to ISK 103.3 billion (EUR 607.6 million) at year-end 2012, a decrease of ISK 5.5 billion (an increase of EUR 5.3 million). As the company's shares are traded in ISK, the fluctuations of the Icelandic krona during the year 2013 affects the market value, when converted into EUR.
The Board of Directors will propose to the 2014 Annual General Meeting that no dividend will be paid for the operational year 2013.
|Program initiated||Number of shares in thousands||Exercise price per share||Exercisable in|
|May 2010||8,910||EUR 0.549 - 0.572||2014 - 2015|
|June 2012||9,198||EUR 1.056 - 1.143||2015 - 2018|
|Number of Shares||Shareholders||%||Shares||%|