The Danske Bank Group has only one share class, and all shares have voting rights. The Bank's shares are traded freely in the market.
Danske Bank's Articles of Association contains a detailed description of shareholder rights.
As stipulated in the Articles, Danske Bank has only one share class. Consequently, all shareholders have the same rights, including
- one voting right per share
- the right to receive dividends per share
In addition, all shareholders are entitled to
- stand for elecetion to the Board of Directors
- submit proposals before the annual general meeting
- attend general meetings or appoint a proxy
- vote at general meetings
In some cases, the exercise of these rights is subject to compliance with form requirements stated in the Articles.
Capital base and shareholder influence on acquisitionsAccording to the general rule in Danske Bank's Articles, shareholders have a pre-emptive right to purchase shares upon a capital increase. The general meeting may decide to deviate from this rule, however, if the decision is approved by two-thirds majority.
The Board of Directors is authorised to increase Danske Bank's share capital by up to DKK 21,662,152,420.
Such a capital increase may take place without pre-emptive rights for existing shareholders if all members of the Board of Directors accept the decision. In that case, the new shares must either be offered at market price against cash payment or debt conversion or be used as consideration in connection with the Bank's acquisition of an existing business.
Under the same authority, the Board of Directors may raise convertible loans without pre-emptive rights for existing shareholders.
Shareholders holding 5% of the votes may convene an extraordinary general meeting to discuss actions taken by the Board of Directors.
A resolution proposing the dissolution of Danske Bank through a merger requires a three-fourths majority of the votes at the general meeting.