Rockwool A/S Share Class Reregistration: A to B Share Conversion

Rockwool A/S has undergone a change in its number of shares due to the reregistration of A shares to B shares. As of December 27, 2024, the volume of shares in the company's share classes will be adjusted, with the A share count decreasing to 9,866,603 shares and the B share count increasing to 11,754,106 shares. The changes will be reflected on Nasdaq Copenhagen.

Rockwool A/S, the Danish-based building materials company, recently announced a change in the number of shares in its A and B share classes due to the conversion of A shares to B shares [1]. The conversion will take effect on Nasdaq Copenhagen as of September 18, 2024.

According to Rockwool's website, shareholders have the right to convert their A shares to B shares at a ratio of 1:1, meaning one A share can be converted to one B share [2]. The conversion is voluntary and can be requested by shareholders four times a year, after the publication of the company's annual, half-yearly, or interim report [2].

The conversion process will not result in any compensation for the difference in share prices between the two classes. Shareholders must complete a Conversion Form and submit it to their securities account holding institution to request the conversion [2].

This share conversion is not a new development for Rockwool. In 2019, the company announced a similar conversion, which took place in March 2020 [3]. However, the latest conversion will result in a significant adjustment to the company's share volume, with the A share count decreasing to 9,866,603 and the B share count increasing to 11,754,106 [1].

The reasons behind the share conversion are not clear, but it may be related to Rockwool's ongoing efforts to optimize its capital structure and improve its financial flexibility. The company has been focusing on reducing its net debt and improving its profitability in recent years [4].

In summary, Rockwool A/S has announced a change in the number of shares in its A and B share classes due to the conversion of A shares to B shares. The conversion will take effect on Nasdaq Copenhagen as of September 18, 2024, and will result in a significant adjustment to the company's share volume. Shareholders can request the conversion voluntarily by completing a Conversion Form and submitting it to their securities account holding institution.

References:
[1] View.news.eu.nasdaq.com. (2024, September 18). Rockwool A/S: Change in Share Classes. Retrieved October 10, 2024, from https://view.news.eu.nasdaq.com/view?id=b66198884455a122bcbd1b527ce73a73b&lang=en
[2] Rockwool.com. (n.d.). Conversion of Shares. Retrieved October 10, 2024, from https://www.rockwool.com/group/about-us/investors/conversion-shares/
[3] Reuters. (2019, March 13). Rockwool A/S to convert Danish shares to ordinary shares. Retrieved October 10, 2024, from https://www.reuters.com/business/finance/rockwool-a-s-to-convert-danish-shares-to-ordinary-shares-2021-03-13/
[4] Seeking Alpha. (2023, August 22). Rockwool A/S (RCKWF): Q2 2023 Earnings Call Transcript. Retrieved October 10, 2024, from https://seekingalpha.com/news/3824356-rockwool-a-s-rckwf-q2-2023-earnings-call-transcript?utm_source=alerts&utm_medium=email&utm_campaign=live_alerts&position=1