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In accordance with NCC’s Articles of Association, owners of Series A shares are entitled to request that their shares be converted to Series B shares. As a result of such conversion, the total number of voting rights in the company is reduced. In connection with conversion, the company is obligated, pursuant to the Swedish Financial Instruments Trading Act (1991:980), to disclose details of the change in this manner.
“Santa Claus should be able to land on house roofs”
NCC has been commissioned to construct the new Kinnari school in Järvenpää, Finland. The project will be carried out with the customer, the city of Järvenpää, in the form of a partnering arrangement. The project is valued at approximately SEK 255 million.
Instead of distributing Christmas gifts to customers and personnel, NCC is donating SEK 1 million to relief organizations focused on children’s well-being. Employees and customers have been able to play a part in deciding which organization will be allocated the bulk of the donation. Doctors Without Borders will receive the largest share of SEK 500,000, while UNICEF and Plan International will each receive SEK 250,000.
NCC has launched a partnering arrangement with Global Business Gate for an entirely new office project in the Masthuggskajen district in Gothenburg. The assignment has been divided into two phases, and the total order value is expected to amount to approximately SEK 900 million.
NCC’s earnings for the fourth quarter will be charged with SEK 315 million for increased provisions in construction and civil engineering projects. This adjustment entails that the project portfolios in the construction and civil engineering operations will have a lower and more balanced risk. Earnings will also be charged with SEK 75 million regarding restructuring costs for reducing overhead costs and severance pay for the former CEO. Operating profit for the fourth quarter is expected to be close to zero.
NCC has signed a contract to build a factory expansion in Vantaa, Finland for Murata Electronics Oy. The project is a design and build contract and the value is approximately SEK 365 million.