20. Share capital and other equity funds

M €

Number of shares

(1.000)

Share  capital

Share premium

reserve

Fair value

reserve

Invested

non-restricted equity reserve

Total

1 Jan 2015

7,403

58.0

35.8

-35.0

17.9

76.7

Change in other comprehensive income

   

2.4

 

2.4

31 Dec 2015

7,403

58.0

35.8

-32.6

17.9

79.1

       

M €

Number of shares

(1.000)

Share  capital

Share premium

reserve

Fair value

reserve

Invested

non-restricted equity reserve

Total

1 Jan 2014

7,403

58.0

35.8

-19.9

17.9

91.8

Change in other comprehensive income

   

-15.1

 

-15.1

31 Dec 2014

7,403

58.0

35.8

-35.0

17.9

76.7

       

VVO Group plc has one type of share. The share has no nominal value. All issued shares have been paid for in full.

Description of equity funds:

Shares

  • The number of VVO Group plc shares issued as at 31 December 2015 was 7,402,560.

Share premium

  • VVO Group plc has no such instruments in force that would accrue a share premium under the new Limited Liability Companies Act. The share premium was generated under the previous Limited Liability Companies Act.

Fair value reserve

  • The fair value reserve contains the changes in fair values of the derivatives used to hedge cash flow and the current assets held for sale.

Invested non-restricted equity reserve

  • The invested non-restricted equity reserve contains equity investments and that part of the share subscription price that has not specifically been allocated to share capital.

Dividends

  • A dividend of EUR 3.00 per share was paid in 2014. After the balance sheet date, 31 December 2015, the Board of Directors has proposed that a dividend of EUR 5.00.

Non-controlling interest

The non-controlling interest consists mainly of the result of Kiinteistö Oy Kotkankynnys.

Restrictions related to the Group’s equity

  • VVO Group’s retained earnings for 2015, EUR 1,659.4 million (EUR 1,502.3 million in 2014) include a total of EUR 531.2 million (EUR 431.3 million in 2014) of equity subject to profit distri-bution restrictions relating to non-profit operations. Equity subject to profit distribution restrictions includes the measurement of investment property at fair value.
  • Some of the Group companies are subject to revenue recognition restrictions under the non-profit provisions of housing legislation, according to which an entity cannot pay its owner more than the profit regulated by housing legislation.

 

 

 

© VVO Group plc 2015