Share redemption programs

Share redemption program 2017

For the 2016/2017 fiscal year, the 2017 Annual General Meeting (AGM) resolved to transfer SEK 4.50 per share to shareholders through a redemption procedure. No ordinary dividend was proposeded.

For more detailed information regarding the redemption program:

För räkenskapsåret 2016/2017 beslutade årsstämman 2017 att överföra 4,50 kronor per aktie till aktieägarna genom ett inlösenprogram. Ingen ordinarie utdelning föreslogs.

Time table

  • September 13: Decision by the Annual General Meeting
  • September 29: Last day of trading in Sectra shares before split, including the right to redemption shares
  • October 2: First day of trading in Sectra shares after the split, excluding the right to redemption shares
  • October 3: Record day for the share split. Every share will be divided into two shares, of which one will be a redemption share
  • October 4–13: Trading in redemption share
  • October 17: Record day for redemption of redemption shares
  • October 20: Preliminary date for payment of redemption settlement via Euroclear Sweden AB

ISIN Codes

  • Redemption shares 2017
    SECT IL A: SE0010133827
    SECT IL B: SE0010133835
  • Ordinary shares before split/incl. right to redemption shares
    SECT AK A: SE0008613962
    SECT AK B: SE0008613970
  • Ordinary shares after split/excl. right to redemption shares
    SECT AK A: SE0010133801
    SECT AK B: SE0010133819

How to handle Sectra’s redemption share program in your Swedish tax return

In the Swedish tax assessment, the redemption of Sectra’s redemption shares (designated SECT IL A and SECT IL B) is to be declared as a sale of shares on Form K4.

For redemption of shares of series B, the aquisition cost for the redemption shares can be calculated based on:

  • General advise from the Swedish Tax Agency
  • The Standard rule

General advise from the Swedish Tax Agency

After the 2017 redemption procedure, an application for general advise from the Swedish Tax Agency regarding the distribution of cost between common shares and redemption shares will be submitted to the Swedish Tax Agency. Once the decision has been announced, Sectra will publish corresponding information on this webpage.

Example based on the standard rule

Alternatively, the so-called standard rule, according to which the acquisition cost is equal to 20% of the net proceeds received when the shares are sold or redeemed, may be applied to calculate the acquisition cost for the series B redemption shares which are listed on the Nasdaq Stockholm exchange. If the series B redemption share was disposed of (through sale or redemption) at a price of SEK 4.50 the aquisition cost is equal to SEK 4.50 x 0.2 = SEK 0.90. The capital gain calculated based on the standard rule is SEK 4.50 – 0.90 = SEK 3.60.

Previous redemption programs

Share redemption program 2016

For the 2015/2016 fiscal year, the 2016 Annual General Meeting (AGM) resolved to transfer SEK 4.50 per share to shareholders through a redemption procedure. No ordinary dividend was proposeded. Sectra carried out the share redemption program during October 2016.

For more detailed information regarding the redemption program:

För räkenskapsåret 2015/2016 beslutade årsstämman 2016 att överföra 4,50 kronor per aktie till aktieägarna genom ett inlösenprogram. Ingen ordinarie utdelning föreslogs. Sectra genomförde inlösenprogrammet under oktober 2016.

För ytterligare information:

Share redemption program 2015

For the 2014/2015 fiscal year, the AGM 2015 has resolved to distribute SEK 4.50 per share to the shareholders through a 2:1 share split in combination with a mandatory redemption process. The redemption program was carried out in September and October 2015.

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How to handle Sectra’s redemption share program in your Swedish tax return

The redemption of shares (designated SECT IL A and SECT IL B) is declared as sale of shares on Form K4. For redemption of shares of series B, the aquisition cost for the redemption shares can be calculated based on:

  • General advise from the Swedish Tax Agency
  • Standard rule

Example based on the general advice

In December 2015, the Swedish Tax Agency has issued general advice regarding calculation of aquisition cost for the redemption shares. According to the general advice 95.8% of the acquisition fees for an original class A or class B share in Sectra AB should be attributed to remaining shares and 4.2% to redemption shares.

Example of calculation

A shareholder owns one (1) Sectra share with an acquisition cost of SEK 40 immediately prior to the share split. Accordingly, the acquisition cost allocated to each redemption share should be (SEK 40 x 0.042 =) SEK 1.68. The acquisition cost of the remaining share will then be (SEK 40 - 1.68 =) SEK 38.32.

If the redemption shares were disposed of (through sale or redemption) at a price of SEK 4.50, the capital gain calculated based on the general advice is (SEK 4.50 - 1.68 =) SEK 2.82.

Example based on the standard rule

Alternatively, the so-called standard rule, according to which the acquisition cost is equal to 20% of the net proceeds received when the shares are sold or redeemed, may be applied to calculate the acquisition cost for the series B redemption shares which are listed on the NASDAQ OMX Stockholm exchange.

If the series B redemption share was disposed of (through sale or redemption) at a price of SEK 4.50, the capital gain calculated based on the standard rule (SEK 4.50 x 0.2 = SEK 0.90) is SEK 4.50 – 0.90 = SEK 3.60.

Further details about the redemption program

Timetable

  • 7 September: Decision by the Annual General Meeting
  • 25 September: Last day of trading in Sectra shares before split, including the right to redemption shares
  • 28 September: First day of trading in Sectra shares after the split, excluding the right to redemption shares
  • 29 September: Record day for the share split. Every share will be divided into two shares, of which one will be a redemption share
  • 30 Sep. - 9 Oct.: Trading in redemption share
  • 13 October: Record day for redemption of redemption shares
  • 16 October: Preliminary date for payment of redemption settlement via Euroclear

ISIN Codes

    • Redemption shares of Series B: SECT IL B SE0004296663
    • Ordinary shares of Series B before split/incl. right to redemption shares: SECT B SE0006168530
    • Ordinary shares Series B after split/excl. right to redemption shares: SECT B SE0007306162

Share redemption program 2014

The Annual General Meeting 2014 resolved to carry out a redemption program and SEK 4.50 per share was distributed to Sectra shareholders in October 2014.

How to handle Sectra’s redemption share program 2013 in your Swedish tax return

The redemption of shares (designated SECT IL B) is declared as sale of shares on Form K4.

According to general advice issued by the Swedish Tax Agency regarding the redemption program, 95.3% of the acquisition fees for an original class A or class B share in Sectra AB should be attributed to remaining shares and 4.7% to redemption shares.

Example based on the general advice

A shareholder owns one (1) Sectra share with an acquisition cost of SEK 40 immediately prior to the share split. Accordingly, the acquisition cost allocated to each redemption share should be (SEK 40 x 0.047 =) SEK 1.88. The acquisition cost of the remaining share will then be
(SEK 40 - 1.88 =) SEK 38.12.

If the redemption shares were disposed of (through sale or redemption) at a price of SEK 4.50, the capital gain calculated based on the general advice is (SEK 4.50 - 1.88 =) SEK 2.62.

Example based on the standard rule

Alternatively, the so-called standard rule, according to which the acquisition cost is equal to 20% of the net proceeds received when the shares are sold or redeemed, may be applied to calculate the acquisition cost for the series B redemption shares which are listed on the NASDAQ OMX Stockholm exchange.

If the series B redemption share was disposed of (through sale or redemption) at a price of SEK 4.50, the capital gain calculated based on the standard rule (SEK 4.50 x 0.2 = SEK 0.90) is SEK 4.50 – 0.90 = SEK 3.60.

Further details about the redemption programme

ISIN Codes

  • Redemption shares of Series B:
    SECT IL B: SE0004296663
  • Ordinary shares of Series B:
    SECT B before split/incl. right to redemption shares: SE0005223773
    SECT B after split/excl. right to redemption shares: SE0006168530

Share redemption program 2013

The Annual General Meeting 2013 resolved to transfer SEK 4.50 per share to shareholders through a 2:1 share split combined with a mandatory redemption procedure and bonus issue. Approximately SEK 167 M was distributed to shareholders in August 2013. According to general advice issued by the Swedish Tax Agency regarding this redemption program, 92% of the acquisition fees for an original class A or class B share of Sectra AB should be attributed to remaining shares and 8% to redemption shares.

How to handle Sectra’s redemption share program 2013 in your Swedish tax return

The redemption of shares (designated SECT IL B) is declared as sales of shares on Form K4. In October 2013, the Swedish Tax Agency issued general advice on how the acquisition fees for your shares should be distributed between remaining shares and redemption shares. According to the Swedish Tax Agency information 92% of the acquisition fees for an original class A or class B share of Sectra AB should be attributed to remaining shares and 8% to redemption shares.

Example:       
A shareholder owns one (1) Sectra share with an acquisition cost of SEK 40 immediately prior to the share split. Accordingly, the acquisition cost allocated to each redemption share should be (SEK 40 * 0.08 =) SEK 3.20 and the acquisition cost allocated to each remaining share should be (SEK 40 * 0,92=) SEK 36.80.

If the redemption shares was disposed of (through sale or redemption) at a price of SEK 4.50, the capital gain calculated based on the general advise is SEK 4.50 - 3.20 = SEK 1.30.

Alternatively, the so-called standard rule, according to which the acquisition cost is equal to 20% of the net proceeds received when the shares are sold or redeemed, may be applied to calculate the acquisition cost for the series B redemption shares which was listed on NASDAQ OMX Stockholm exchange.

Example:

If the series B redemption share was disposed of (through sale or redemption) at a price of SEK 4.50, the capital gain calculated based on the standard rule is SEK 4.50 - 0.90 = SEK 3.60.

Link to general advise from the Swedish Tax Agency (language Swedish):

Timetable for the redemption program 2013

July 10:
Last date of trading in Sectra shares including redemption shares
July 11:
First date of trading in Sectra shares excluding redemption shares
July 15:
Record date for the share split. Each share will be divided into two shares, of which one will be a redemption share
July 16-26:
Trading in redemption shares
July 31:
Record date for suspension of redemption shares
August 5:
Preliminary date for payment of redemption settlement via Euroclear Sweden

Brochure for further information on the redemption process

ISIN-CODE for redemption shares of series B

SECT IL B: SE0004296663

Share redemption program 2012

The Annual General Meeting (AGM) held on June 28, 2012, resolved to transfer SEK 5 per share to shareholders through a 2:1 share split combined with a mandatory redemption procedure and bonus issue. The resolution entails that approximately SEK 185 M will be distributed to shareholders.

The redemption process was automatic, entailing that no action is required from shareholders. It will also be possible to trade redemption stock of Series B shares on NASDAQ OMX Stockholm AB.

How to handle Sectra’s redemption share program 2012 in your Swedish tax return

The redemption of shares (designated SECT IL B) is declared as sales of shares on Form K4. In September 2012, the Swedish Tax Agency issued general advice on how the acquisition fees for your shares should be distributed between remaining shares and redemption shares. According to the Swedish Tax Agency (refer to SKV A 2012:22) 90% of the acquisition fees for an original class A or class B share of Sectra AB should be attributed to remaining shares and 10% to redemption shares.

ISIN-CODE for redemption shares of series B

SECT IL B: SE0004296663

Timetable

July 11:
Last date of trading in Sectra shares including redemption shares
July 12:
First date of trading in Sectra shares excluding redemption shares
July 16:
Record date for the share split. Each share will be divided into two shares, of which one will be a redemption share
July 17-27:
Trading in redemption shares
August 1:
Record date for suspension of redemption shares
August 6:
Preliminary date for payment of redemption settlement via Euroclear Sweden

Brochure for further information on the redemption process

Share redemption program 2011

Brochure for further information on the redemption process

In February 2012, the Swedish Tax Agency issued general advice on how the acquisition fees for your shares should be distributed between remaining shares and redemption shares. According to the Swedish Tax Agency (refer to SKV A 2012:2) 90% of the acquisition fees for an original class A or class B share of Sectra AB should be attributed to remaining shares and 10% to redemption shares. The redemption of shares (designated SECT IL B) is declared as sales of shares on Form K4.

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