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 shares | Series B registered shares | Votes | Votes prev. year |
|---|---|---|---|---|
| Heinz and Elisabeth Buhofer as well as Heinz M. Buhofer ¹ | 1 480 650 | 4 481 | 65.60% | 66.25% |
| Ursula Stöckli-Rubli | 328 000 | 17 006 | 15.24% | 15.24% |
| Werner O. Weber, indirectly held through Wemaco Invest AG | 82 000 | 46 600 | 5.68% | 5.68% |
| 1 The group also comprises Annelies Häcki Buhofer, Philipp Buhofer, Martin Buhofer and Julia Häcki, if acting in mutual agreement. The shares held indirectly via Metall Zug AG are included in these shareholding figures. | ||||
6 | Share ownership by current members of the corporate bodies
| numbers | Series 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, chairman | 0 | 500 | 0 | 250 |
| Heinz M. Buhofer, member | 563 040 1 | 1 | 563 0401 | 1 |
| Prof. Dr. Annelies Häcki Buhofer, member | 154 062 1 | 10 762 | 108 1541 | 7 727 |
| Armin Meier, member | 0 | 60 | 0 | 30 |
| Dr. Beat Schwab, member | 0 | 10 | – | – |
| Heinz Stübi, member | 0 | 90 | 0 | 90 |
| Martin Wipfli, member | 0 | 266 | 0 | 266 |
| Tobias Achermann, CEO | 0 | 0 | – | – |
| Gabriela Theus, CFO | 0 | 0 | 0 | 0 |
| 1 For the most part held through Buhofer trust II | ||||
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.