My Transcom Experience

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Author: Stefan Pettersson

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Business as usual as Transcom WorldWide moves from Luxembourg to Sweden

On September 25, we announced that the Swedish Companies Registration Office has granted Transcom permission to execute a re-domiciliation of the parent company of the Transcom Group from Luxembourg to Sweden. The press release is available here. Let me give you a quick summary of what this means.

It all started in 1995

Transcom AB was originally set up in 1995 to provide customer service for Comviq’s mobile telephony customers in Sweden. Subsequently, Transcom Europe was formed to support expansion into new European markets. These two parallel Transcom organizations grew rapidly, and were merged at the end of March 2000 to form Transcom WorldWide S.A., headquartered in Luxembourg.

Moving the company to Sweden

Since 2001, Transcom has had its legal domicile in Luxembourg while being listed on a Swedish stock exchange. As a result of this set-up, the company has been bound to comply with regulations in both Luxembourg and Sweden. In order to align the legal domicile of the company with that of its owners (Transcom’s shareholders are predominantly based in Sweden), Transcom is planning to execute a re-domiciliation from Luxembourg to Sweden at the end of November 2014. If you are interested, you can find detailed information in this prospectus.

Benefits for our shareholders

Following the re-domiciliation to Sweden, general meetings of the shareholders will be held in Sweden rather than in Luxembourg. This will facilitate shareholder participation at general meetings. Furthermore, Transcom will no longer be bound by dual legal systems – Swedish and Luxemburgish – lowering costs and simplifying the execution of corporate actions.

Transcom’s listing set-up will also be simplified. The company today has its shares admitted to trading through Swedish Depository Receipts (SDRs). Following the re-domiciliation, the Transcom Group’s shares will be directly admitted to trading on NASDAQ OMX Stockholm, resulting in a simplified and less costly listing structure. In addition, there will no longer be two different share classes. One single class of shares will be established, offering the potential of increased liquidity.

Business as usual for our clients and their customers

While this re-domiciliation is a major change from the corporate governance and capital markets perspectives, it is business as usual from a business operations viewpoint. The new Swedish parent company of the Transcom Group (Transcom WorldWide AB) will take over all assets and liabilities of Transcom WorldWide S.A.

As always, we remain committed to delivering excellent service to our clients’ customers in a reliable, consistent and cost-effective way. Our mission is unchanged: Transcom enables companies to enhance their business performance by improving the experience of their customers.

Around the globe

Working for an international organization is a great privilege. When I joined Transcom in 2010, I was quickly made aware of the scale and worldwide nature of my new employer. Soon I understood why it’s so important to be comfortable communicating in English, if you want to work here at Transcom. Not only do we have support departments localized all over the globe; sharing knowledge goes beyond national levels. I myself learned a lot when I visited my colleagues in Fredrikstad, Norway, about a year ago. They worked for the same client, with the same contract, had the same focus on customer experience, but our approaches to similar challenges varied. We got back to the Netherlands loaded with ideas. My Norwegian colleague and I have contacted one another on a regular basis ever since and last May she and her colleagues visited us in Groningen, gaining an insight into our methods.

It is a huge benefit to know that, whenever you encounter a situation in which you’re not sure what to do, there are colleagues in other countries ready to help and share best practices. In the last one and a half years I have said ‘Thank you’ to colleagues from many countries and regions, and was thanked myself as well on several occasions. In an organization like Transcom, there is expertise on every subject and it’s more or less in our DNA to go out and get it.

Right now, I am personally benefiting from Transcom’s international nature, as I am in the middle of a transfer from the Netherlands to Sweden. At the beginning of the summer, my wife got a great job offer, so we decided to move to the south of that beautiful country. I was happy to find out that there was actually a job opening at Transcom for my very position near our new home town. I applied and in a few weeks’ time I was hired.

Last week, I met my new colleagues and I am looking forward to joining the team officially. They’re a great bunch, enthusiastic and qualified, they’re fluent in English (I still have some work to do on my Swedish) and they have a great sense of humor. Meanwhile, I am welcoming my successor and making sure he will have no trouble at all taking over my responsibilities. And of course, I will still be at Transcom, so if he needs my advice, I am just one phone call or email away.

This also makes saying goodbye to my Dutch colleagues a bit easier. We’ll talk and, with a bit of luck, meet again.