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The mail order business that Clas Ohlson started in 1918 in Insjön is now an established European retail business. There are about three thousand staff working in Sweden, Norway, Finland and the UK who all follow our company motto “Making things easier for people to solve their everyday practical problems”. You are warmly welcome to read about the journey we have made, the future challenges we face and the values, concepts and responsibilities on which our business operations based.
Clas Ohlson is a rapidly expanding retail business with sales of over SEK 5 billion in Sweden, Norway, Finland and the UK. The Head Office lies in the same town where its business operation began in Insjön, Dalarna County. The company has been listed on Stockholm's Stock Exchange (OMX) since 1999.
Our Media Centre contains an overview of our press releases, current store openings, relevant company information and other news of interest. Images, video clips and important contact information are also found here. You are welcome to contact us regarding any of your media related requests. Ring our switchboard at +46 (0)247-444 00 or e-mail us with any queries at press@clasohlson.se
Do you share our view that helping people solve their everyday problems whether big or small is one of the most satisfying things one can do? Then Clas Ohlson may be the company for you with exciting multifaceted roles and job assignments on local, national and international levels. At Clas Ohlson the possibilities for advancement, training and personal development are endless.
There are several ways to contact us. Click on the link that best suites your needs and you will access your information more quickly. Uncertain about who to contact, call our main switchboard at +46 (0)247-444 00 or Customer Services at +46 (0)247-445 00 and you’ll receive the assistance that you need. We look forward to hearing from you!
It should always be easy and convenient to find what you need at Clas Ohlson. In Sweden and Norway, we sell a wide array of home, multimedia, electrical, leisure and hardware products both though our online store and by mail order. In both Finland and the UK, sales are conducted through our expanding retail network. All our purchasing, transport and goods are handled responsibly according to strict environmental and sustainability standards.
Since premiering on the stock exchange Clas Ohlson has arranged one of Sweden’s largest and most frequented AGMs. The AGM for the financial year 2010/2011 was held in Insjön on Saturday, September 10th, 2011.
Annual General Meeting (AGM)
On an annual basis, the Board of Directors of Clas Ohlson AB (publ) (referred to below as “Clas Ohlson”) will evaluate whether a long-term incentive scheme (for example, one based on shares or share price) will be proposed to the Annual General Meeting. The aim of long-term incentive schemes is to create the prerequisites for recruiting senior executives and other key employees judged to have considerable potential to influence Clas Ohlson’s long-term development. Descriptions of the implemented incentive schemes are presented below.
An Extraordinary General Meeting held on 10 April 2008 resolved to adopt a performance-based incentive plan (LTI 2008). The LTI 2008 includes a maximum of 40 individual senior executives and other key employees judged to have considerable potential to influence the long-term development of Clas Ohlson. Under the incentive programme, the Participants acquire Series B shares in Clas Ohlson at market price. The company subsequently matches this private investment free of charge by allotting restricted share awards and performance-based employee stock options in accordance with the principles described below.
Under LTI 2008, Participants acquires Series B shares in Clas Ohlson at market price at a value corresponding to at least 5 and a maximum of 10 per cent of their annual fixed salaries on 1-11 May 2008 (the “Acquisition Period”). However, the Board of Directors has the authority to permit individuals who are recruited as new employees and fall under the definition of Participant to enter the programme up to and including 31 July 2008. Preliminary options and share awards are allotted five days after the end of the Acquisition Period (the “Start Date”).
The private investment is subsequently matched by the company free of charge by allotting restricted share awards and performance-based employee stock options. A condition for the exercise of the share awards and employee stock options is that the employee retains his/her invested shares and, with certain exceptions, remains employed from the Start Date up to and including 30 April 2011 (the “Qualification Period”). For each Series B share acquired by the employee under the LTI 2008 programme, the company will allot a share award and a number of preliminary employee stock options. Matching will be based on the number of shares invested in by the employee at the standard share price on the purchase date. The scope of LTI 2008 can never exceed 540,000 shares (702,000 shares if social security expenses are included). Each share award entitles the holder to receive one Series B share in the company free of charge. The share awards do not provide entitlement to receive dividends on the underlying shares during the Qualification Period. The share awards are non-transferrable and can be issued by the company or other Group companies.
Each exercisable employee stock option entitles the holder to acquire one Series B share in the company. The acquisition price for the shares when the options are exercised shall correspond to 110 per cent of the volume-weighted average of the most recent price paid for series B Clas Ohlson shares on the NASDAQ OMX Nordic Exchange during a period of 10 trading days prior to 1 May 2008. The employee stock options may be exercised not before 20 June 2011 and not later than 30 April 2015. The employee stock options do not provide entitlement to receive dividends on the underlying shares during the Qualification Period. The employee stock options are non-transferrable and can be issued by the company or other Group companies. The number of employee stock options that may be exercised for acquiring shares depends on the number of Series B shares acquired by the employee and the fulfilment of certain target levels established by the Board regarding the company’s performance, growth and results during the Qualification Period. The levels established are: entry, target and stretch. The levels correspond to the following: 5 employee stock options/acquired Series B shares for the entry level, 10 employee stock options/ acquired Series B shares for target level and 15 employee stock options/acquired Series B shares for the stretch level. Vesting of employee stock options between the entry and stretch levels is straight-line. No employee stock options are allotted if the entry level is not achieved. If the share price varies on the acquisition date, the LTI 2008 may theoretically encompass more shares than the proposed scope of the programme. In such a case, allotment will be proportionally reduced in accordance with the principles decided by the Board.
The LTI 2008 will be recognised in accordance with IFRS 2 Share-based Payment. Based on an unchanged dividend and maximum outcome of the LTI 2008 criteria, the initial costs for LTI 2008 in accordance with IFRS 2 will not exceed SEK 18 M. The Meeting resolved to implement a buyback programme to provide the company with the opportunity to transfer treasury shares to the Participants, as described above, and to also use repurchased shares to ensure sufficient liquidity for the payment of future social security expenses associated with LTI 2008. It is not intended that any new shares will be issued as a result of the programme.
The Annual General Meeting held on 13 September 2008 resolved to adopt the performance-based incentive plan (LTI 2009) proposed by the Board. The LTI 2009 includes a maximum of 40 individual senior executives and other key employees judged to have considerable potential to influence the long-term development of Clas Ohlson. Under the incentive programme, the Participants acquire Series B shares in Clas Ohlson at market price. The company subsequently matches this private investment free of charge by allotting restricted share awards and performance-based employee stock options in accordance with the principles described below.
Under LTI 2009, the Participants acquire Series B shares in Clas Ohlson at market price at a value corresponding to at least 5 and a maximum of 10 per cent of their annual fixed salaries on 1-11 May 2008 (the “Acquisition Period”). Preliminary options and share awards are allotted five days after the end of the Acquisition Period (the “Start Date”).
The private investment is subsequently matched by the company free of charge by allotting restricted share awards and performance-based employee stock options. A condition for the exercise of the share awards and employee stock options is that the employee retains his/her invested shares and, with certain exceptions, remains employed from the Start Date up to and including 30 April 2012 (the “Qualification Period”). For each Series B share acquired by the employee under the LTI 2009 programme, the company will allot a share award and a number of preliminary employee stock options. Matching will be based on the number of shares invested in by the employee at the standard share price on the purchase date. The scope of LTI 2009 can never exceed 715,000 shares (930,000 shares if social security expenses are included). Each share award entitles the holder to receive one Series B share in the company free of charge. The share awards do not provide entitlement to receive dividends on the underlying shares during the Qualification Period. The share awards are non-transferrable and can be issued by the company or other Group companies.
Each exercisable employee stock option entitles the holder to acquire one Series B share in the company. The acquisition price for the shares when the options are exercised shall correspond to 110 per cent of the volume-weighted average of the most recent price paid for series B Clas Ohlson shares on the NASDAQ OMX Nordic Exchange during a period of 10 trading days prior to the first day of the Acquisition Period. The employee stock options may be exercised not before 20 June 2012 and not later than 30 April 2016. The employee stock options do not provide entitlement to receive dividends on the underlying shares during the Qualification Period. The employee stock options are non-transferrable and can be issued by the company or other Group companies. The number of employee stock options that may be exercised for acquiring shares depends on the number of Series B shares acquired by the employee and the fulfilment of certain target levels established by the Board regarding the company’s performance, growth and results during the Qualification Period. The levels established are: entry, target and stretch. The levels correspond to the following: 5 employee stock options/acquired Series B shares for the entry level, 10 employee stock options/acquired Series B shares for target level and 15 employee stock options/acquired Series B shares for the stretch level. Vesting of employee stock options between the entry and stretch levels is straight-line. No employee stock options are allotted if the entry level is not achieved. If the share price varies on the acquisition date, the LTI 2009 may theoretically encompass more shares than the proposed scope of the programme. In such a case, allotment will be proportionally reduced in accordance with the principles decided by the Board.
The LTI 2008 will be recognised in accordance with IFRS 2 Share-based Payment. Based on an unchanged dividend and maximum outcome of the LTI 2009 criteria, the initial costs for LTI 2009 in accordance with IFRS 2 will not exceed SEK 11.6 M. In addition, social security expenses will be incurred, calculated in greater detail in the Board’s full proposal for the LTI 2009. The Meeting resolved to implement a buyback programme to provide the company with the opportunity to transfer treasury shares to the Participants, as described above, and to also use repurchased shares to ensure sufficient liquidity for the payment of future social security expenses associated with LTI 2009. It is not intended that any new shares will be issued as a result of the programme.
The Annual General Meeting held on 12 September 2009 resolved to adopt the performance-based incentive plan (LTI 2010) proposed by the Board. The LTI 2010 includes a maximum of 45 individual senior executives and other key employees judged to have considerable potential to influence the long-term development of Clas Ohlson. Under the incentive programme, the Participants acquire Series B shares in Clas Ohlson at market price. The company subsequently matches this private investment free of charge by allotting restricted share awards and performance-based employee stock options in accordance with the principles described below.
Under LTI 2010, Participants acquires Series B shares in Clas Ohlson at market price at a value corresponding to at least 5 and a maximum of 10 per cent of their annual fixed salaries on 1-11 May 2010 (the “Acquisition Period”). Preliminary options and share awards are allotted five days after the end of the Acquisition Period (the “Start Date”).
The company subsequently matches the private investment free of charge by allotting restricted share awards and performance-based employee stock options. A condition for the exercise of the share awards and employee stock options is that the employee retains his/her invested shares and, with certain exceptions, remains employed from the Start Date up to and including 30 April 2013 (the “Qualification Period”). For each Series B share acquired by the employee under the LTI 2009 programme, the company will allot a share award and a number of preliminary employee stock options. Matching will be based on the number of shares invested in by the employee at the standard share price on the purchase date. The scope of LTI 2010 can never exceed 640,000 shares (832,000 shares if social security expenses are included). Each share award entitles the holder to receive one Series B share in the company free of charge. The share awards do not provide entitlement to receive dividends on the underlying shares during the Qualification Period. The share awards are non-transferrable and can be issued by the company or other Group companies.
Each exercisable employee stock option entitles the holder to acquire one Series B share in the company. The acquisition price for the shares when the options are exercised shall correspond to 110 per cent of the volume-weighted average of the most recent price paid for series B Clas Ohlson shares on the NASDAQ OMX Nordic Exchange during a period of 10 trading days prior to the first day of the Acquisition Period. The employee stock options may be exercised not before 17 June 2013 and not later than 28 April 2017. The employee stock options do not provide entitlement to receive dividends on the underlying shares during the Qualification Period. The employee stock options are non-transferrable and can be issued by the company or other Group companies. The number of employee stock options that may be exercised for acquiring shares depends on the number of Series B shares acquired by the employee and the fulfilment of certain target levels established by the Board regarding the company’s performance, growth and results during the Qualification Period. The levels established are: entry, target and stretch. The levels correspond to the following: 5 employee stock options/acquired Series B shares for the entry level, 10 employee stock options/ acquired Series B shares for target level and 15 employee stock options/acquired Series B shares for the stretch level. Vesting of employee stock options between the entry and stretch levels is straight-line. No employee stock options are allotted if the entry level is not achieved. If the share price varies on the acquisition date, the LTI 2010 may theoretically encompass more shares than the proposed scope of the programme. In such a case, allotment will be proportionally reduced in accordance with the principles decided by the Board.
The LTI 2010 will be recognised in accordance with IFRS 2 Share-based Payment. Based on an unchanged dividend and maximum outcome of the LTI 2010 criteria, the initial costs for LTI 2010 in accordance with IFRS 2 will not exceed SEK 19.3 M. In addition, social security expenses will be incurred, which will be calculated in greater detail in the Board’s full proposal for the LTI 2010. The Meeting resolved to implement a buyback programme to provide the company with the opportunity to transfer treasury shares to the Participants, as described above, and to also use repurchased shares to ensure sufficient liquidity for the payment of future social security expenses associated with LTI 2010. It is not intended that any new shares will be issued as a result of the programme.
Each exercisable employee stock option entitles the holder to acquire one Series B share in the company. The acquisition price for the shares when the options are exercised shall correspond to 110 per cent of the volume-weighted average of the most recent price paid for series B Clas Ohlson shares on the NASDAQ OMX Nordic Exchange during a period of 10 trading days prior to the first day of the Acquisition Period. The employee stock options may be exercised not before 16 June 2014 and not later than 27 April 2018. The employee stock options do not provide entitlement to receive dividends on the underlying shares during the Qualification Period. The employee stock options are non-transferrable and can be issued by the company or other Group companies. The number of employee stock options that may be exercised for acquiring shares depends on the number of Series B shares acquired by the employee and the fulfilment of certain target levels established by the Board regarding the company’s performance, growth and results during the Qualification Period. The levels established are: entry, target and stretch. The levels correspond to the following: 5 employee stock options/acquired Series B shares for the entry level, 10 employee stock options/ acquired Series B shares for target level and 15 employee stock options/acquired Series B shares for the stretch level. Vesting of employee stock options between the entry and stretch levels is straight-line. No employee stock options are allotted if the entry level is not achieved. If the share price varies on the acquisition date, the LTI 2011 may theoretically encompass more shares than the proposed scope of the programme. In such a case, allotment will be proportionally reduced in accordance with the principles decided by the Board.
The LTI 2011 will be recognised in accordance with IFRS 2 Share-based Payment. Based on an unchanged dividend and maximum outcome of the LTI 2011 criteria, the initial costs for LTI 2011 in accordance with IFRS 2 will not exceed SEK 18.6 M. In addition, social security expenses will be incurred, which will be calculated in greater detail in the Board’s full proposal for the LTI 2011. The Meeting resolved to implement a buyback programme to provide the company with the opportunity to transfer treasury shares to the Participants, as described above, and to also use repurchased shares to ensure sufficient liquidity for the payment of future social security expenses associated with LTI 2011. It is not intended that any new shares will be issued as a result of the programme.
Each exercisable employee stock option entitles the holder to acquire one Series B share in the company. The acquisition price for the shares when the options are exercised shall correspond to 110 per cent of the volume-weighted average of the most recent price paid for series B Clas Ohlson shares on the NASDAQ OMX Nordic Exchange during a period of 10 trading days prior to the first day of the Acquisition Period. The employee stock options may be exercised not before 15 June 2015 and not later than 26 April 2019. The employee stock options do not provide entitlement to receive dividends on the underlying shares during the Qualification Period. The employee stock options are non-transferrable and can be issued by the company or other Group companies. The number of employee stock options that may be exercised for acquiring shares depends on the number of Series B shares acquired by the employee and the fulfilment of certain target levels established by the Board regarding the company’s performance, growth and results during the Qualification Period. The levels established are: entry, target and stretch. The levels correspond to the following: 5 employee stock options/acquired Series B shares for the entry level, 10 employee stock options/ acquired Series B shares for target level and 15 employee stock options/acquired Series B shares for the stretch level. Vesting of employee stock options between the entry and stretch levels is straight-line. No employee stock options are allotted if the entry level is not achieved. If the share price varies on the acquisition date, the LTI 2012 may theoretically encompass more shares than the proposed scope of the programme. In such a case, allotment will be proportionally reduced in accordance with the principles decided by the Board.
The LTI 2012 will be recognised in accordance with IFRS 2 Share-based Payment. Based on an unchanged dividend and maximum outcome of the LTI 2012 criteria, the initial costs for LTI 2012 in accordance with IFRS 2 will not exceed SEK 17.0 M. In addition, social security expenses will be incurred, which will be calculated in greater detail in the Board’s full proposal for the LTI 2012. The Meeting resolved to implement a buyback programme to provide the company with the opportunity to transfer treasury shares to the Participants, as described above, and to also use repurchased shares to ensure sufficient liquidity for the payment of future social security expenses associated with LTI 2012. It is not intended that any new shares will be issued as a result of the programme.
