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Notes to the Accounts

34 Equity and Reserves
             
Equity        
             
There was no change in the company's share capital of EURm 98 during the financial year. The 90,000 treasury shares acquired during 2009 were cancelled on 8 June, 2010 after which the number of shares is 561,282,390.
 
At the end of the financial year 2010, the mother company or other Group companies held no shares in the parent company.
 
Reserves and retained earnings
 
Share premium reserve
The reserve included investments of equity nature and the issue price of shares to an extent it was not recorded in share capital by an express decision. During the financial year 2009, EURm 1,161 was transferred to the reserve for invested unrestricted equity from the share premium reserve.
 
Legal reserve
The legal reserve comprises the amounts to be transferred from the distributable equity according to the articles of association or on the basis of the decision of the AGM. During the financial year 2009, EURm 366 was transferred to the reserve for invested unrestricted equity from the legal reserve.
 
Invested unrestricted equity
The reserve includes other investments of equity nature, as well as issue price of shares to an extent it is not recorded in share capital by an express decision. During the financial year 2009, EURm 1,161 was transferred to this reserve from the share premium reserve and EURm 366 from the legal reserve.
 
Other components of equity
Other components of equity include fair value changes of financial assets available for sale and derivatives used in cash flow hedges, and exchange differences.
 
Changes in the reserves and retained earnings are presented in the Group's statement of changes in equity.
 
Shares and votes
 
The number of Sampo plc’s shares at 31 Dec. 2010 was 561,282,390, of which 560,082,390 were A-shares and 1,200,000 B-shares. Each A share has 1 vote and each B-share has 5 votes at General Meetings. All the B-shares are owned by the Kaleva Mutual Insurance Company. B-shares can be converted into A-shares at the request of the holder of B-shares. Sampo's A-shares are quoted on the Helsinki Stock Exchange (currently NASDAQ OMX Helsinki).
 
On 13 April, 2010, the Annual General Meeting granted the Board of Directors authorisation to buy back Sampo's shares, valid until the close of the next AGM, nevertheless not more than 18 months after the AGM's decision. The maximum amount of A-shares that 50,000,000 can be bought back is shares in either one or various set. Shares may be acquired otherwise than inproportion to the shareholders' holdings through public trading at a market price prevailing at the time of purchase.
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