SCA (NASDAQ:SVCBY) has announced that owners of the company’s Class A share now have to right to convert their shares into Class B shares. The conversion will reduce the total number of votes company. Following the conversion, SCA will be obligated to disclose any changes by law. Per the request of shareholders during the month of March, 877,954 Class A shares were converted to Class B shares. This resulted in the total number of votes in the company being 1,624,478,985. The total number of registered shares in SCA is 705,110,094. 102,152,099 of the shares are Class A shares. 602,957,995 of the shares are Class B shares.
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SCA is a global hygiene and paper company that develops and produces personal care products, tissue, packaging solutions, publication papers and solid-wood products. Sales are conducted in some 100 countries. SCA has many well-known brands, including the global brands Tena and Tork. Sales in 2009 amounted to SEK 111 billion (EUR 10.5 billion). SCA has approximately 50,000 employees.
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