Two share classes

Ambu’s share capital is divided into Class A and Class B shares. Holders of Class A shares are descendants of the founder of the company and have ten votes per DKK 0.50 share, while holders of Class B shares have one vote per DKK 0.50 share.

Class A shares are non-negotiable securities and as such are not quoted on the NASDAQ OMX Copenhagen. According to Ambu’s Articles of Association, a transfer of more than 5% of the total number of Class A shares at a price higher than that quoted for the company’s Class B shares by the NASDAQ OMX Copenhagen at the time of transfer can take place only if the buyer offers all holders of Class A and Class B shares in the company to buy their shares at the same price. The holders of Class A shares have informed Ambu that a Shareholders’ Agreement was signed on 26 May 1987. The contents of this agreement are outlined in Ambu’s prospectus from 1992.

The Board of Directors has discussed the existing ownership structure with the holders of Class A shares. Both the holders of Class A shares and the Board of Directors have so far found that the current ownership structure has been and continues to be expedient for all the company’s stakeholders as it helps create a sound framework for the implementation of the company’s strategies and thereby safeguards the interests of all shareholders.