Hexagon Annual Report 2018

46 2018 AT A GLANCE FROM THE BOARD ROOM FINANCIAL STATEMENTS Shareholder Information Hexagon Composites ASA is listed on the Oslo Stock Exchange (OSE:HEX). The share capital was NOK 16.7 (16.7) million at the end of 2018, divided into 166.6 (166.6) million shares with a nominal value of NOK 0.10. Hexagon has one class of shares. Please refer to the Corporate Governance section in this report for more information on the Group’s policies and procedures relating to shareholders and shares. As of 31 December 2018, the market value of the Group’s shares was NOK 4,074 (4,458) million, based on a price per share of NOK 24.45 (NOK 27.50). The price per share depreciated by 11.1% during the year. The highest daily closing price during the year was NOK 27.85 and the lowest recorded closing price was NOK 19.84. By comparison, the Oslo Stock Exchange Industrial Index (OSE20GI) decreased by 4.9%, while the OBX Total Return Index (OBX) decreased by 1.8%. The Group remains well positioned for significant growth in both the medium- and long-term as a result of continued increasing demand for sustainable business opportunities, especially within natural gas, biogas and hydrogen. Hexagon is listed on the Match Segment of the Oslo Stock Exchange. All shares are freely transferable. In 2018, 27.0 (15.9) million shares were traded with a turnover rate of 16.2% (9.5%) computed on the average number of shares outstanding. SHARE DISTRIBUTION AND MAJOR SHAREHOLDERS The number of shareholders increased by 10.3% to 2,535 (2,298) in 2018. The number of foreign shareholders was 189 (197) representing 39.4% (40.9%) ownership in the Group. The majority of the foreign shareholders are from Japan, Luxembourg, the United Kingdom, Sweden and the USA. Hexagon’s largest shareholder is Mitsui & Co., Ltd., with an ownership interest of 25.0% (25.0%). The second largest shareholder is Flakk Composites AS, which, including related parties, controls 18.4% (18.4%) of the shares. Flakk Composites AS is a wholly owned subsid- iary of Flakk Gruppen AS. Knut Flakk, who is Chairman of Hexagon, owns 98.7% of Flakk Gruppen AS. The 20 largest shareholders own 81.6% (80.1%) of the Group. Other shareholders are primarily private individu- als, institutions and small- and medium-sized companies. Several employees including key management personnel of Hexagon hold shares and share options in the Group. MAKING SUSTAINABI L ITY OUR BUSINESS OPPORTUNITY During 2018, Hexagon has focused on growing its business areas as well as completing the strategic acquisition of the remaining 50% share of Agility Fuel Solutions. The share price closed the year 11.1% below the closing price for 2017. Going forward, the company sees large growth opportunities materializing from the accelerating transition and focus on cleaner fuels. As such, the company expects to allocate direct resources and investments toward exploiting these prospects.