Share register and its significance
Every limited liability company must have a share register which contains a list of all shares and shareholders. There are two different types of share register, private and public limited liability companies. In a private limited liability company the share capital must amount to at least SEK 50,000 while a public limited liability company must have a share capital of at least SEK 500,000. If the share capital is divided into a number of shares each share represents an equal portion of the share capital (the share’s ratio value or nominal value). All shares have equal rights in the company, which means that all shareholders, regardless of the number of shares in the company, have the same rights per share.
The Board is responsible for the share register
Each company must keep a share register of all the company’s shares and shareholders. The Board of the company is responsible for keeping a share register. When a share is sold or when the information in the share register otherwise changes the change is immediately recorded in the share register. All changes in a share register must be recorded in the share register but are not registered by the Swedish Companies Registration Office.
Contents of share registers
A share register must contain information about:
- Each share’s number
- The shareholder’s name and ID number, organisation number other identification number and mailing address.
- Whether share certificates have been issued.
- The number of shares each shareholder holds in various classes of shares if there are different classes of shares in the company.
- Where appropriate, if the shares are subject to contractual restrictions..
The share register may consist of a loose-leaf or card system, but it may also be kept on computers or other similar methods. In VPC companies the share register is always kept on computers.
The share register is available to the public
The share register is public and must be made available to everyone at the company. if the register is kept on computers a printout of it that is not older than three months must be provided by the company on request.
Share register and Annual General Meeting
To participate in the Annual General Meeting a shareholder must be registered in the share register on the day of the Annual General Meeting. The articles of association may prescribe that everyone must notify the company that they intend to present at the meeting. The notice from the company shows how such notification occurs.