Explanations to the annual financial statements

1 | Other receivables due from Group companies

Other receivables due from Group companies include the current portion of loans granted to subsidiaries in the amount of TCHF 900 (previous year: TCHF 800).

2 | Intercompany loans

This position comprises long-term loans to subsidiaries to finance their operations in the amount of TCHF 16 200 (previous year: TCHF 30 900).

Accrued income Group companies

Dividends from subsidiaries totaling TCHF 9 500, which were distributed from the ordinary profits of the 2014 financial year, are recorded as dividend income (previous year: TCHF 3 000).

4 | Other current liabilities to related parties.

Other current liabilities to related parties comprise current liabilities to members of the board of directors in the amount of TCHF 134 (previous year: TCHF 95).

5 | Significant shareholders

As at December 31, 2014 Zug Estates Holding AG was aware of the following significant shareholders within the meaning of art. 663c of the Code of Obligations (shareholders with holdings greater than 5% of all voting rights):

numbers or in %Series A registered sharesSeries B registered sharesVotesVotes prev. year
Heinz and Elisabeth Buhofer as well as Heinz M. Buhofer ¹1 480 6504 48165.60%66.25%
Ursula Stöckli-Rubli328 00017 00615.24%15.24%
Werner O. Weber, indirectly held through Wemaco Invest AG82 00046 6005.68%5.68%

6 | Share ownership by current members of the corporate bodies

numbersSeries A
registered shares as
at 31.12.2014
Series B
registered shares as
at 31.12.2014
Series A
registered shares as
at 31.12.2013
Series B
registered shares as
at 31.12.2013
Hannes Wüest, chairman05000250
Heinz M. Buhofer, member563 040 11563 04011
Prof. Dr. Annelies Häcki Buhofer, member154 062 110 762108 15417 727
Armin Meier, member060030
Dr. Beat Schwab, member010
Heinz Stübi, member090090
Martin Wipfli, member02660266
Tobias Achermann, CEO00
Gabriela Theus, CFO0000

No shares or options on such shares were allocated to board of directors and Group Management or employees.

7 | Treasury shares

In the year under review, Zug Estates Holding AG acquired 16 315 series B registered treasury shares at an average price of CHF 1 178 and sold 13 321 series B registered treasury shares at an average price of CHF 1 203.

As at December 31, 2014, Zug Estates Holding AG holds 18 400 series A registered treasury shares and 17 592 series B registered treasury shares stated at historical acquisition costs of TCHF 24 134 (previous year: 18 400 series A registered shares and 14 598 series B registered shares stated at TCHF 19 101).

8 | Financial income

Financial income comprises interest received on loans to Group companies as well as income from securities and also includes income from the revaluation of treasury shares by TCHF 1 504 to its acquisition cost. This latter income item arose in application of the new financial reporting legislation, which stipulates that treasury shares are recognized at acquisition cost as minus items under equity.

9 | Number of full-time equivalents

The number of full-time equivalents averaged fewer than 10 in the year under review.

10 | Significant events after the balance sheet date

No events that must be disclosed took place after the balance sheet date.

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