Note 29 – Equity

Share capital. The Articles of Association of Hoist Finance AB (publ) specify that the company’s share capital shall total a minimum of SEK 15m and a maximum of SEK 60m.

Number of shares20212020
Opening balance89,303,00089,303,000 
Closing balance89,303,00089,303,000 

The quota value is SEK 0.33 per share.

The total number of shares at 31 December 2021 and 2020 was 89,303,000.

Reserves comprise the translation reserve and hedge reserve. The translation reserve comprises all exchange differences arising through translation of foreign operations less hedging effects.  

Other contributed equity refers to equity, other than share capital and AT1 capital contributions, contributed by shareholders. 

AT1 capital contributions are subordinated loans, which have priority only over share capital. Subordinated loans that meet the requirements specified in Regulation (EU) No 575/203 may be rated as AT1 capital. The instruments are perpetual and are redeemable only upon approval of the Swedish Financial Supervisory Authority and no earlier than five years after issue date.

Retained earnings comprise accrued earnings in the Parent Company, subsidiaries and joint ventures. For the 2021 financial year, the Board has decided to propose to the AGM not to pay a dividend for 2021.

The revaluation reserve in the Parent Company comprises SEK 64m taken over from Hoist Kredit AB (publ) in the merger and which arose from revaluation of the share value in Hoist Finance UK Ltd in 2013. The revaluation reserve also comprises portfolio revaluations pertaining to positive revaluations of portfolios reported in restricted equity.

The development expenditure fund in the Parent Company pertains to expenditures for the Company’s own development work and has been transferred from retained earnings.

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- Annual Report 2021 -
- Årsredovisning 2021 -