Share and ownership

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Share information 2021 2020 2019 2018 2017
Highest share price, DKK 394.7 244.4 237.2 318.6 188.9
Lowest share price, DKK 219.6 132.2 160.5 167.4 122.3
Share price, year-end, DKK 335.1 240.6 209.8 184.9 173.5
Market capitalisation, DKK million*) 77,117 57,718 50,470 45,308 43,864
Average trading turnover, DKK million*) 111.0 99.8 112.4 128.6 69.3
Average number of shares, million*) 234.82 239.78 243.55 249.14 256.56
Number of shares at 31.12., million*) 230.13 239.90 240.56 245.22 252.82
Number of treasury shares at 31.12., million 10.0 0.8 4.7 7.1 6.1


*) Excluding treasury shares.

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Share capital
As of 31 December 2021, Demant’s nominal share capital was DKK 48,025,566.60 divided into 240,127,833 shares of DKK 0.20 each. All shares are the same class and carry one vote each.

At the annual general meeting on 10 March 2022, it was decided to reduce the Company’s share capital by nominally DKK 1,949,819.60. After execution of the capital reduction, the Company’s total nominal share capital is DKK 46,075,747.00.

The Board of Directors has been authorised by the annual general meeting to increase the company’s share capital by a total nominal value of up to DKK 6,664,384. This increase may consist of no more than DKK 4,800,000 of the share capital with preemptive rights for existing shareholders and of no more than DKK 4,800,000 of the share capital without pre-emptive rights for existing shareholders. Furthermore, the Board of Directors has been authorised to increase the share capital by an additional nominal value of up to DKK 2,500,000 for shares offered to employees. All authorisations are valid until 1 March 2026.


William Demant Foundation is a majority shareholder in Demant through its investment company William Demant Invest and has previously communicated its intention to maintain an ownership interest of 55-60% of Demant’s share capital. As of 31 December 2021, William Demant Foundation held – either directly or indirectly – approx. 58% of the share capital and no other shareholder has flagged an ownership interest of 5% or more.

The Group’s insider rules and procedures comply with the provisions of the Market Abuse Directive under which members of the Executive Board and the Board of Directors and their closely related parties are obliged to inform the market of their transactions with Demant shares with a view to subsequent reporting to the Danish FSA. Such announcements appear from the Company’s website under Investor Relations, Announcements.

As part of its insider rules, the Company maintains a list of permanent insiders, containing mainly senior executives, who – through their involvement in the Company – have access to price-affecting knowledge of the Group’s internal affairs, also known as inside information. Persons entered in the permanent insider list may not trade in the Company’s shares from the first day of each quarter and until the day of publication of the annual report, interim report or interim management statements.

The Company will primarily use its substantial cash flow from operating activities for investments and acquisitions. Any excess liquidity will, as a rule, be used for the continuous buy-back of shares.

Until the next annual general meeting, the Board of Directors has been authorised to allow the Company to buy back shares at a nominal value of up to 10% of the share capital. The purchase price may, however, not deviate by more than 10% from the price listed on Nasdaq Copenhagen.

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