Share capital and repurchases
As of 31 March 2010, the Company's share capital amounted to MSEK 57. The total number of shares outstanding was 28,436,416. Of the total number of shares outstanding, 1,082,124 were class A shares carrying ten votes each and 27,354,292 were class B shares carrying one vote each. All shares carry equal rights to the Company’s assets and earnings. A conversion provision in the Articles of Association allows for conversion of class A shares into class B shares.
During the 2009/2010 operating year, there were no changes in the total number of shares. A total of 2,688 class A shares were converted to class B shares during the year.
Of the total number of shares as of 31 March 2010, the Company had repurchased 380,500 class B shares, corresponing to 1.3 percent of the total number of shares and 1.0 percent of the total number of votes. All of the repurchased class B shares held in treasury are reserved for securing the Company’s obligations under it's share-based incentive programmes. After a deduction for the repurchased shares held in treasury by the Company, the number of shares outstanding as of 31 March 2010 totalled a net amount of 28,055,916. The Board of Directors of B&B TOOLS AB has resolved to propose that the Annual General Meeting to be held 25 August 2010 renew the authorisation for the repurchase of own shares.
The weighted number of shares, less the repurchased shares held in treasury by the Company, amounted to 27,949,291 for the 2009/2010 operating year.
