DOCSLIB.ORG

Investment AB Kinnevik

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Investment AB Kinnevik KinnevikOmsl-06 08-03-11 16.59 Sida 3 Investment AB Kinnevik Head office: Skeppsbron 18 Box 2094 SE-103 13 Stockholm Telephone: + 46 8 562 000 00 Telefax: + 46 8 20 37 74 Registration number: 556047-9742 www.kinnevik.se Annual Report 2007 Elanders Falköping 2008 ”More than seventy years of entrepreneurial tradition under the same group of principal owners” Contents Five-year Summary 4 Chief Executive’s review 5 Board of Directors 6 Senior Executives 8 Historical background 9 The Kinnevik share 10 Book and fair value of assets 12 Proportional part of revenue and result 13 Our Group 14 Major Unlisted Holdings Korsnäs 16 Major Listed Holdings Millicom 20 Tele2 21 Modern Times Group MTG 22 Metro 23 Transcom 23 New Ventures 24 Corporate Governance Report 26 Annual and Consolidated Accounts for 2007 Board of Directors’ Report 29 Financial Statements and Notes for the Group 32 Financial Statements and Notes for the Parent Company 56 Audit Report 63 Definitions of financial key ratios 64 Five-year Summary For definitions of financial key ratios, refer to page 64. (SEK million) 2007 2006 2005 2004 2003 1) Summary of Income Statement 1) Revenue 7 673 6 305 4 618 4 600 5 660 Operating income 885 478 353 1 526 716 Change in fair value of financial assets 15 540 10 974 3 893 -2 544 - Result from participation in associated companies - - - - 2 675 Result after net financial items 16 266 11 608 4 647 -1 198 3 325 Result for the year 16 179 11 549 4 097 -1 417 3 731 Summary of Cash Flow Statement Cash flow from operations 878 1 533 52 1 128 806 Cash flow from investing activities 695 -3 302 266 1 775 -483 Cash flow from financing activities -1 581 1 717 -34 -2 802 -483 Cash flow from discontinued operations - -50 -367 -33 - Cash flow for the year -8 -102 -83 68 -160 Key ratios Operating margin 11.5% 7.6% 7.6% 33.2% 12.7% Capital employed 59 778 44 629 31 022 30 262 19 700 Return on capital employed 32.0% 31.6% 15.9% -3.4% 20.5% Return on shareholders’ equity 38.2% 40.0% 18.9% -7.2% 37.8% Equity/assets ratio 80% 72% 70% 58% 65% 2) Net debt 9 205 9 856 7 249 7 168 6 803 Debt/equity ratio, multiple 0.2 0.3 0.3 0.7 0.7 Risk capital ratio 82.2% 75.3% 72.3% 60.3% 57.7% 1) IFRS have been applied as from 2005. Figures for 2004 have been recalculated in line with IFRS. 2003 are reported in accordance with earlier principles based on recom- mendations from the Swedish Accounting Standards. 2) Adjusted for surplus value in the share portfolio in line with earlier accounting principles. 4 Chief Executive’s review 2007 was a very good year for Kinnevik and our sharehol- ders. Kinnevik’s net profit for the year was the highest ever at SEK 16,179 million, the net asset value increased by SEK 15,832 million and the value of the Kinnevik share increased by 28%, significantly outperforming the Stockholm Stock Exchange which decreased by 7%. 2007 was a year full of activity and I would like to highlight some factors that have contributed to the strong performance during the year. Kinnevik has a strong tradition to build on with more than 70 years of entrepreneurship with the same group of principal owners. The performance in 2007 is a further re- cognition of our long term strategy as Kinnevik’s investments generate value by growth. A good example is Millicom, which in 2007 accelerated its network roll-out and showed tremendous growth with the number of mobile subscribers increasing by 57%, which was reflected in a very strong share price development during the year. In practice, Kinnevik exerts its ownership through the Gateway TV, as well as an African micro finance company, Board of Directors of our portfolio companies. In this work, Bayport, to our portfolio. We have also increased our invest- we strive to strengthen each company’s unique position. In ments in Kontakt East Holding and Black Earth Farming. Our Tele2, the realignment of the company intitated by the Tele2 strategy for the New Ventures is simple and the investment Board in 2006 was successfully executed and Tele2 refocused mandate is wide. Kinnevik is looking to invest in industries its activities towards mobile infrastructure with selective and markets with very strong growth potential, be it an broadband operations and exiting fixed-line telephony in emerging market or an emerging technology. The business several European markets. In Metro, a strategic review was should be easily scalable and we want to invest at an early initiated in the second half of 2007, aiming to turn around stage, aiming to get a significant influence in the company, the company’s financial performance. preferably through the Board of Directors. So far, Kinnevik In Korsnäs, Kinnevik’s wholly owned pulp and paper has invested around SEK 980 million in New Ventures, and company, the integration work between the mills in Gävle the value of the portfolio at the end of 2007 was some SEK and Frövi was completed, and the benefits of synergies was 1,800 million. increasingly visible in the financial result. Despite chal- A case study of a new venture in the Kinnevik portfo- lenging operational conditions in 2007, mainly caused by lio is Black Earth Farming, where Kinnevik was one of the steeply rising costs for pulpwood, Korsnäs maintained a founding investors in 2006. Black Earth Farming buys and profitability in the top range of Swedish pulp and paper operates farmland in Russia. Agriculture is a sector where companies. Kinnevik has a long tradition and know-how, which has Our strategy has resulted in a strong presence in emer- been instrumental in developing Black Earth Farming. With ging markets where Kinnevik has more than half of the as- its 280,000 hectares of land in the Black Earth region in sets, spread over Central and South America, Africa, Eastern Russia, Black Earth Farming is one of the largest agricultural Europe including Russia and Asia. In the developed markets, companies in the world. Black Earth Farming undertook an the Kinnevik companies have a strong platform in the Nordic initial public offering in 2007 and was listed at First North countries, but also significant presence in the rest of Europe. in Stockholm. The issue met with strong investor interest. On a macro economic level the strong global economic Kinnevik remains one of the largest shareholders in the com- growth continued, particularly in emerging markets. Growing pany. The total investment of SEK 493 million in 2006-2007 private consumption in these markets is one of the main dri- was valued at SEK 1,208 million at the end of 2007. vers behind increasing penetration of mobile telephony – a Looking into 2008, we are likely tol meet challenges as key driver for Millicom and Tele2, the two mobile operators the global economic outlook at the time of writing is uncer- in our portfolio. tain and financial markets are volatile. We cannot expect the The financial markets were buyoant in the first half of Kinnevik portfolio of companies to be protected from slo- 2007. Kinnevik took advantage of this development and wing global economic growth or unstable financial markets. exited its ownership in the financial group Invik, at what However, I remain convinced of the long-term possibilities in we believe was a favourable price for our shareholders. The our portfolio of companies and we are dedicated to continue sale was a reflection of the consolidation taking place in the our strategy of active ownership. Nordic financial market and it gave us increased financial I would like to thank the employees for their excellent ef- flexibility to invest in new growth markets. forts and all our shareholders for your confidence in Kinnevik. During the year, Kinnevik has intensified its activities within New Ventures, adding an African pay-TV company, Mia Brunell Livfors 5 Board of Directors The Board of Directors, Chief Executive Officer and Company Secretary of Investment AB Kinnevik. Left to right: Erik Mitteregger, Henrik Nord, Allen Sangines-Krause, Per Eriksson, Vigo Carlund, Cristina Stenbeck, Stig Nordin, Mia Brunell Livfors, Wilhelm Klingspor, Bo Gidlund, Hans Wahlbom and Mikael Larsson. 6 BOARD OF DIRECTORS Board of Directors Cristina Stenbeck Chairman Stig Nordin Board member B.Sc. Georgetown University, Washington DC, USA, born M.Sc. Engineering, Chalmers University of Technology, born 1977. Chairman of the Board of Investment AB Kinnevik 1943. Member of the Board of Investment AB Kinnevik since 2007. Vice Chairman of Investment AB Kinnevik since 2004 and Industriförvaltnings AB Kinnevik 1992-2004. 2004-2007 and Industriförvaltnings AB Kinnevik 2003-2004. Member of the Board of Korsnäs AB 1992-2000 and since Chairman of Emesco AB. Member of the Board of Metro In- 2004. President and CEO of Industriförvaltnings AB Kinnevik ternational S.A., Millicom International Cellular S.A., Modern 1992-1999, CEO of Korsnäs AB 1993-1998 and CEO of Invik Times Group MTG AB, Tele2 AB, Transcom WorldWide S.A. & Co. AB 1999-2001. and Korsnäs AB since 2003. Shareholding: 43,668 Class B shares, including related physi- Shareholding: 2,200 Class B shares. cal persons. Vigo Carlund Board member Allen Sangines-Krause Board member Born 1946. Member of the Board of Investment AB Kin- Ph.D., Harvard University, born 1959. Member of the Board nevik since August 2006, President and CEO of Kinne- of Investment AB Kinnevik since 2007.
Load more

Recommended publications
  • Complete Proposal
    Documentation to be presented at the Annual General Meeting of TELE2 AB (publ) Wednesday 10 May 2006 Agenda for the Annual General Meeting of Tele2 AB (publ) Wednesday 10 May 2006 at 1.30 p.m. CET at the Skandia cinema, Drottninggatan 82, in Stockholm. Proposed agenda 1. Election of Chairman of the Meeting. 2. Preparation and approval of the voting list. 3. Approval of the agenda. 4. Election of one or two persons to check and verify the minutes. 5. Determination of whether the Meeting has been duly convened. 6. Presentation of the annual report and auditors’ report and of the consolidated financial statements and the auditors’ report on the consolidated financial statements. 7. Resolution on the adoption of the income statement and balance sheet and of the consolidated income statement and the consolidated balance sheet. 8. Resolution on the proposed treatment of the company’s unappropriated earnings or accumulated loss as stated in the adopted balance sheet. 9. Resolution on the discharge of liability of the directors of the Board and the Chief Executive Officer. 10. Determination of the number of directors of the Board. 11. Determination of the remuneration to the Board of Directors and the auditor. 12. Election of the directors of the Board. 13. Approval of the procedure of the Nomination Committee. 14. Resolution on a policy on remuneration and other terms of employment for senior executives. 15. Resolution on an offer on reclassification of Class A shares into Class B shares. 16. Resolution to authorise the Board of Directors to resolve on the purchase and transfer of the company’s own shares.
    [Show full text]
  • The Green Journey Page 7
    Explore the opportunities in project development and construction Worldwide #1.10 Tampa Museum page 12 The Green Journey page 7 Now... The Manhattan Bridge, connecting subway commuters each day. The Bridge’s the “necklace lighting” on the bridge’s western Brooklyn with southeastern necklace lighting is a sparkling holiday two exterior suspender cables will be Manhattan, was opened to traffic on De- attraction in New York. replaced. cember 31, 1909. This year, Skanska will In the past 10 years, practically every The contract is Skanska’s third for the start replacing the bridge’s suspension part of the bridge has been replaced or Bridge since 2000. Valued at USD 150 structures and “necklace lighting.” rehabilitated. Now, Skanska will replace million, the assignment was included in The Bridge is the most heavily traf- the bridge’s suspension structures and order bookings for the fourth quarter. ficked of all East River spans. Comprising more than 600 suspender cables. The four The customer is the New York City two upper roadway decks, four New York main cables will be re-wrapped, and the Department of Transportation, and work City Transit tracks and a three-lane lower bearings for the eight main trusses will will be completed by mid-2013. roadway, the Manhattan Bridge carries be replaced. Also, inspection platforms more than 78,000 vehicles and 266,000 will be installed under the bridge, and 2 Worldwide # 1 20 Contents #1 2010 12 Tampa Museum The new Tampa Museum of Art is the centerpiece in the rejuvenation of the Curtis Hixson Waterfront Park in Tampa, Florida.
    [Show full text]
  • Purchase and Sales by Report Date Composite
    Purchase and Sales by Report Date Composite July 1, 2013 to July 31, 2013 View Date: August 8, 2013 Funds Included in Composite NJBD COMMON D EMERGING NJBU COMMON D DEVELOPED NJDE COMMON D DEVELOPED PASSIVE NJDO COMMON D DEVELOPED ETFS NJDU COMMON D HEALTHCARE NJDV COMMON D TECHNOLOGY NJDZ COMMON D OAC NJEA COMMON D EMERGING MORGAN STNLY NJEB COMMON D EMERGING LAZARD NJED COMMON D EMERGING PICTET NJEM COMMON D EMERGING WELLINGTON Page 1 Prepared by State Street Purchase Report by Report Date Composite July 1, 2013 to July 31, 2013 View Date: August 8, 2013 Base Currency: USD - US DOLLAR Asset ID Security Name/Description Trd Date Stl Date Fail Days Broker Name Stl Cur/Loc Comm Per Shr Shares/Par/Contracts Exchange Rate Fund Price Interest Commissions Taxes/Fees/Other Net Cost Units/Original Face CASH EQUIVALENTS US DOLLAR 85749P9B9 STATE STR INSTL LIQUID RESVS 0.093% 31 Dec 2099 01 Jul 2013 01 Jul 2013 STATE STREET BANK AND TRUST USD/CSW 744,135.040 1.000000 NJEM Local 100.000000 0.00 0.00 0.00 744,135.04 Base 100.000000 0.00 0.00 0.00 744,135.04 85749P9B9 STATE STR INSTL LIQUID RESVS 0.093% 31 Dec 2099 01 Jul 2013 01 Jul 2013 STATE STREET BANK AND TRUST USD/CSW 592,948.130 1.000000 NJEA Local 100.000000 0.00 0.00 0.00 592,948.13 Base 100.000000 0.00 0.00 0.00 592,948.13 85749P9B9 STATE STR INSTL LIQUID RESVS 0.093% 31 Dec 2099 01 Jul 2013 01 Jul 2013 STATE STREET BANK AND TRUST USD/CSW 478,031.100 1.000000 NJEB Local 100.000000 0.00 0.00 0.00 478,031.10 Base 100.000000 0.00 0.00 0.00 478,031.10 85749P9B9 STATE STR INSTL LIQUID RESVS
    [Show full text]
  • Nørrelund to Be Responsible for NENT Group's Sports Rights Portfolio and Expansion of Viaplay to Specific Markets Where S
    • Nørrelund to be responsible for NENT Group’s sports rights portfolio and expansion of Viaplay to specific markets where sports will play a key role • Appointment effective 1 August • NENT Group has rights to show more than 50,000 hours of the world’s best live sporting action every year on its streaming services and TV channels Nordic Entertainment Group (NENT Group), the Nordic region’s leading streaming company, has appointed Peter Nørrelund as EVP and Head of Expansion & Sport with effect from 1 August. Peter will be responsible for the company’s sports rights portfolio and for the expansion of NENT Group’s Viaplay streaming service to specific markets where sports will play a key role. He will report to Anders Jensen, NENT Group President and CEO. Peter was previously an advisor to NENT Group’s President and CEO on sports rights, as well as EVP and Head of Product Development & Incubation at Modern Times Group (MTG) and CEO of DreamHack Sports Games. Peter joined MTG in 2003 and was appointed Head of Sport in 2013, having been responsible for the company’s sports rights acquisitions since 2006. Whilst at MTG, Peter has also been COO of Turtle Entertainment. Peter graduated from the Danish School of Media & Journalism, and then worked as a reporter, commentator, host and Editor in Chief at Danmarks Radio. In his new position at NENT Group, Peter will join the Group Executive Management team and will be based in Copenhagen. Kim Mikkelsen, NENT Group SVP and Head of Sport, will continue in his current role and report to Peter.
    [Show full text]
  • Information to Kinnevik's Shareholders Prior to the Resolution on the Distribution of Kinnevik's Shares in MTG at the Extrao
    Information to Kinnevik’s shareholders prior to the resolution on the distribution of Kinnevik’s shares in MTG at the Extraordinary General Meeting on 16 July 2018 This information brochure is not a prospectus and does not constitute an offer to acquire or sell shares. This information brochure is intended to provide information to the shareholders of Kinnevik AB (publ) prior to the resolution on the distribution of Kinnevik’s shares in MTG at the Extraordinary General Meeting on 16 July 2018. The Board‘s complete proposal on the distribution of Kinnevik’s shares in MTG is included in the notice to the Extraordinary General Meeting which was disclosed by a press release on 20 June 2018 and is available on www.kinnevik.com under the heading “General Meetings” (which can be found under the section “Governance”) and will be sent to shareholders upon request. The same address and telephone number can be used for ordering the notice as for the notice to attend the Extraordinary General Meeting, please refer to the notice to the Extraordinary General Meeting under the heading “Notice etc.”. For information about MTG, Nordic Entertainment Group and the MTG class B share, please refer to MTG’s website at www.mtg.com. Provided that the Extraordinary General Meeting resolves in accordance with the Board’s proposal, no further actions are required by a shareholder in Kinnevik in order to receive MTG class B shares, except for being registered as a shareholder (directly registered or nominee registered) on the record date for the distribution of the MTG class B shares.
    [Show full text]
  • TV OCH TELEFONI Flexibelt! Välj Bland Ett Stort Utbud Av Tv-Kanaler Med Underhållning, Film, Dokumentärer, Nyheter, Sport Och Musik
    Enkelt! Billigt! TV OCH TELEFONI Flexibelt! Välj bland ett stort utbud av tv-kanaler med underhållning, film, dokumentärer, nyheter, sport och musik. Det breda utbudet ger dig möjligheter att skapa egna kombinationer, allt efter dina intressen och behov. För boende i Chalmers Studentbostäder ingår ett intresse- paket i hyran! GRUNDUTBUD SOM ALLTID INGÅR : SVT1, SVT2, TV4, SVT 24, BARNKANALEN/KUNSKAPSKANALEN TV6 OCH AFTONBLADET/TV7 VISAR VI FRITT FÖR ALLA TELE2VISION-KUNDER MED DIGITAL-TV-BOX BÖRJA MED ATT VÄLJA BLAND DE GULA KANALPAKETEN NEDAN… INTRESSEPAKET MIXPAKET TV1000 CANAL+ TOTAL NÖJE SPORT DOKUMENTÄR FAKTA Sätt ihop ditt eget TV 1000 Canal+ Film 1 1. TV 3 1. Sport Expressen 1. Viasat History 1. Travel Channel Mixpaket genom TV 1000 Action Canal+ Film 2 att välja fem TV 1000 Nordic Canal+ Film 3 2. Kanal 5 2. Eurosport 2. Viasat Explorer 2. CNN valfria kanaler ur TV 1000 Family Canal+ Sport 1 3. TV 8 3. Eurosport 2 3. Discovery Channel 3. BBC World de fyra intresse- TV 1000 Classic Canal+ Sport 2 4. MTV 4. ESPN Classic 4. Discovery Travel 4. DI-TV paketen. TV 1000 Plus 1 Canal+ Mix 5. TV4 Plus Sports & Living 5. TV4 Fakta PRIS 199:- 6. Viasat Nature/ 5. Extreme Sports 5. Animal Planet PRIS 239:- Crime 6. Viasat Sport 3 VIASAT SPORT CANAL + SPORT Komplettera TV 1000 Canal+ Sport 1 PRIS 59:- PRIS 59:- PRIS 59:- PRIS 59 :- PRIS 89:- med Viasat Sportpaketet Canal+ Sport 2 (1,2,3) för 20 kr (199 kr + 20 kr) PRIS 199:- CANAL + FILM Canal+ Film 1 Canal+ Film 2 Canal+ Film 3 …DÄREFTER KAN DU VÄLJA TILL BARNPAKETET, A LA CARTE-KANALERNA OCH VIASAT SPORTPAKETET.
    [Show full text]
  • Nye Udfordringer for Gamle Medier
    N E UDFO Y B egrebet public service blev lanceret som fællesbetegnelse for organisering af almene goder, f.eks. vandforsyning, kloakvæsen og andre tjenester, der stilles til rådighed for Anker Brink Lund alle borgere. For radiofoniens vedkommende legitimerede knaphed på sendefrekvenser N YE UDFORDRINGER i sin tid virksomheden som et licensfinansieret monopol. R Lars Nord D FOR GAMLE MEDIER Siden er der sket en massiv udvidelse af de offentlige tjenester, der nu formidles på R Johann Roppen flere platforme. De grundlæggende spilleregler er i mellemtiden blevet ændret radikalt. I N Det er ikke længere mangel på sendefrekvenser, men tværtimod det fragmenterede SKANDINAVISK PUBLIC SERVICE G udbud af multimedialt indhold, der skaber nye muligheder og problemer. Ikke kun E I DET 21. ÅRHUNDREDE NORDICOM teknologisk, men også ledelsesmæssigt. R Bogen anskuer disse udfordringer fra et inter-skandinavisk udgangspunkt. Metodisk FO er det afgørende nye, at der anlægges et medieøkologisk niche-perspektiv. Derved R forsøger forskerne at undgå en normativ for eller imod diskussion. I stedet sættes fokus på den innovative og markedskorrigerende betydning af public service på relativt små G A mediemarkeder som det danske, norske og svenske. M L E MEDIE R A nker nker B rink L un d, d, L ars N o rd & Johann & Johann rd R NORDICOM o Nordiskt Informationscenter för Medie- och Kommunikationsforskning ppen Göteborgs universitet Box 713, SE 405 30 Göteborg Telefon +46 31 786 00 00 | Fax +46 31 786 46 55 www.nordicom.gu.se | E-post: [email protected] NORDICOM Nye udfordringer for gamle medier Nye udfordringer for gamle medier Skandinavisk public service i det 21.
    [Show full text]
  • MONDAY 18 MAY 2015 CONTENTS 1. Qliro Group
    QLIRO GROUP AB (PUBL) DOCUMENTS FOR THE ANNUAL GENERAL MEETING OF SHAREHOLDERS – MONDAY 18 MAY 2015 CONTENTS 1. Qliro Group AB Nomination Committee's explanatory statement regarding the proposal for election of the Board at the 2015 Annual General Meeting. 2. Press release on 5 May 2015 – The Nomination Committee amends its proposal regarding election of Board of Directors. 3. Information on the proposed members of the Board – updated on 5 May 2015 due to the Nomination Committee's amended proposal regarding election of Board of Directors. 4. The Board's statement pursuant to Ch 19 Sec 22 of the Swedish Companies Act. 5. Auditors' report in accordance with Ch 8, Sec 54 of the Swedish Companies Act whether the guidelines for remuneration to Executive Management as approved by the Annual General Meeting have been complied with. 6. Evaluation of Qliro Group's remuneration to the CEO and other Members of the Management Group (Report according to the Swedish Corporate Governance Code, 9.1 and 10.3). 1. Qliro Group AB Nomination Committee's explanatory statement regarding the proposal for election of the Board at the 2015 Annual General Meeting Qliro Group's Nomination Committee In accordance with the procedure for the Nomination Committee adopted at the 2014 Annual General Meeting, Cristina Stenbeck, being a representative of the Company’s largest shareholder Investment AB Kinnevik, convened a Nomination Committee to prepare the proposals for the Company’s 2015 Annual General Meeting. The Nomination Committee consists of Cristina Stenbeck appointed by Investment AB Kinnevik; Annika Andersson appointed by Swedbank Robur Funds; and Rezo Kanovich appointed by Oppenheimer Funds.
    [Show full text]
  • Biography of Jan Stenbeck - Google Search
    biography of jan stenbeck - Google Search Sign in All Images News Videos Maps More Settings Tools About 24 700 results (0,52 seconds) Career. Stenbeck was born in Stockholm, Sweden, the youngest son of business lawyer Hugo Stenbeck (1890–1977) and his wife Märtha (née Odelfelt; 1906–1992). ... Control of the group was passed to his daughter Cristina Stenbeck after his death of a heart attack. Jan Stenbeck - Wikipedia https://en.wikipedia.org/wiki/Jan_Stenbeck Biography About Featured Snippets Feedback Jan Hugo Robert Arne Stenbeck was a Swedish business leader, media Jan Stenbeck - Wikipedia pioneer, sailor and financier. He was https://en.wikipedia.org/wiki/Jan_Stenbeck head of Kinnevik Group from 1976 and Career. Stenbeck was born in Stockholm, Sweden, the youngest son of business lawyer Hugo founded among other things the Stenbeck (1890–1977) and his wife Märtha (née Odelfelt; 1906–1992). ... Control of the group companies Comviq, Invik & Co AB, was passed to his daughter Cristina Stenbeck after his death of a heart attack. Tele2, Banque Invik, Millicom, Modern Born: Jan Hugo Robert Arne Stenbeck; 14 Died: 19 August 2002 (aged 59); Paris, Times Group and NetCom Systems. Nov... France Wikipedia Born: November 14, 1942, Stockholm Jan Stenbeck – Wikipedia Died: August 19, 2002, American https://sv.wikipedia.org/wiki/Jan_Stenbeck Translate this page Hospital of Paris, Neuilly-sur-Seine, Jan Stenbeck var yngste son till affärsadvokaten Hugo Stenbeck (1890–1977) och dennes France hustru Märta, född Odelfelt (1906–1992). Efter studentexamen vid ... Spouse: Merrill McLeod (m. Föräldrar: Hugo Stenbeck; Märta Odelfelt Styrelse- ledamot i: Investment AB Kinnevik, In..
    [Show full text]
  • 2009 Corporate Governance Report
    2009 Corporate Governance Report Tele2 AB (“the Company”) offers mobile services, fixed broadband and telephony, data network services, cable TV and content services. In 2009, we had net sales of SEK 39,265 million and reported an operating profit (EBITDA) of SEK 9,185 million. Tele2 is a Swedish joint- stock Company with shares listed on the OMX Nordic Exchange and thus applies the Swedish Code of Corporate Governance (“the Code”) as amended on July 1, 2008. This Corporate Governance Report is prepared in accordance with the provisions of the Code, and it contains information regarding the following deviations: Reference from the Code Deviation and Explanation 2.4 A member of the Board shall not chair the Cristina Stenbeck, who is the Chairman of the nomination committee, is considered to be dependent nomination committee in respect of being a member of the Company’s Board. However, the other members of the nomination committee have declared their decision regarding the election as being in the Company’s and the share holders´ best interest and a natural consequence of Cristina Stenbeck representing the Company’s largest shareholders. 9.1 The members of the remuneration committee, Mia Brunell Livfors and Vigo Carlund, members of the remuneration committee, are not considered apart from the Chairman, must be independent of independent in respect of the Company and its executive management. The Board however considers the Company and the corporate executives. that their experience will benefit the Company and make them suitable committee members. The code notwithstanding, the Board believes that they will be as free of conflict as if they were independent.
    [Show full text]
  • Empowering Societies Innovation Moments Millicom Annual Report 2014 1 1 Millicom Annual Report 2014 Millicom Annual Report 2014 1 Overview
    Millicom International Cellular S.A. Annual Report 2014 Annual Report 2014 Empowering Societies Innovation Moments Millicom Annual Report 2014 1 1 Millicom Annual Report 2014 Millicom Annual Report 2014 1 Overview About us Overview About us MillicomMillicom is is a a leading leading international international telecommunicationstelecommunications and and media media companycompany dedicated dedicated to to emerging emerging marketsmarkets in in Latin Latin America America and and Africa.Africa. We We empower empower a a digital digital lifestylelifestyle by by offering offering communication, communication, information and entertainment Strategy information and entertainment Strategy whichwhich connect connect people people to to their their world. world. Operating under the Tigo brand in 14 countries,Operating Millicom under the offers Tigo innovative brand in 14and customer-centriccountries, Millicom products. offers innovativeMillicom employs and 23,297customer-centric people and products.provides mobile, Millicom cable, employs satellite,23,297 peoplebroadband and providesand mobile mobile, financial cable, servicessatellite, to broadband over 56 million and customersmobile financial in mobileservices and to five over million 56 million revenue-generating customers in mobile and five million revenue-generating Performance units in cable, with 5.6 million HFC Performance homesunits inpassed. cable, with 5.6 million HFC homes passed. Financial highlights Revenue (US$m) EBITDA (US$m) (reported figures) 6,386 5,159 4,814 2,092 2,065 2,093
    [Show full text]
  • College Retirement Equities Fund
    SECURITIES AND EXCHANGE COMMISSION FORM N-Q Quarterly schedule of portfolio holdings of registered management investment company filed on Form N-Q Filing Date: 2010-05-27 | Period of Report: 2010-03-31 SEC Accession No. 0000930413-10-003160 (HTML Version on secdatabase.com) FILER COLLEGE RETIREMENT EQUITIES FUND Mailing Address Business Address 730 THIRD AVE 730 THIRD AVE CIK:777535| IRS No.: 136022042 | State of Incorp.:NY | Fiscal Year End: 1231 NEW YORK NY 10017 NEW YORK NY 10017 Type: N-Q | Act: 40 | File No.: 811-04415 | Film No.: 10861628 2129164905 Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number File No. 811-4415 COLLEGE RETIREMENT EQUITIES FUND (Exact name of Registrant as specified in charter) 730 Third Avenue, New York, New York 10017-3206 (Address of principal executive offices) (Zip code) Stewart P. Greene, Esq. c/o TIAA-CREF 730 Third Avenue New York, New York 10017-3206 (Name and address of agent for service) Registrants telephone number, including area code: 212-490-9000 Date of fiscal year end: December 31 Date of reporting period: March 31, 2010 Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Item 1. Schedule of Investments. COLLEGE RETIREMENT EQUITIES FUND - Stock Account COLLEGE RETIREMENT EQUITIES FUND STOCK ACCOUNT SCHEDULE OF INVESTMENTS (unaudited) March 31, 2010 MATURITY VALUE PRINCIPAL ISSUER RATE RATING DATE (000) BONDS - 0.0% CORPORATE BONDS - 0.0% HOLDING AND OTHER INVESTMENT OFFICES - 0.0% $ 100,000,000 j Japan Asia Investment Co Ltd 0.000% 09/26/11 NR $ 535 22,970 Kiwi Income Property Trust 8.950 12/20/14 NR 17 TOTAL HOLDING AND OTHER INVESTMENT OFFICES 552 Copyright © 2012 www.secdatabase.com.
    [Show full text]