Explanations to the annual financial statements of Zug Estates Holding AG
1 | Other receivables due from Group companies
Other receivables due from Group companies include the current portion of loans granted to subsidiaries. No short-term loans to subsidiaries were outstanding in the year under review (previous year: TCHF 800).
2 | Accrued income Group companies
Dividends from subsidiaries totaling TCHF 17 000, which were distributed from the ordinary profits of the 2015 financial year, are recorded as dividend income (previous year: TCHF 9 500).
3 | Loans to Group companies
This position comprises long-term loans to finance their operations in the amount of TCHF 20 000 (previous year: TCHF 16 200).
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 37 (previous year: TCHF 134).
5 | Significant shareholders
As at December 31, 2015, Zug Estates Holding AG was aware of the following significant shareholders within the meaning of article 663c of the Code of Obligations (shareholders with holdings greater than 5% of all voting rights):
| number or % | Series A registered shares | Series B registered shares | Votes | Votes previous year |
|---|---|---|---|---|
| Heinz and Elisabeth Buhofer as well as Heinz M. Buhofer ¹ | 1 489 650 | 4 965 | 66.0% | 65.6% |
| Stöckli Group 2 | 340 800 | 17 486 | 15.8% | – |
| Ursula Stöckli-Rubli | – | – | – | 15.2% |
| Werner O. Weber, indirectly held through Wemaco Invest AG | 82 000 | 46 600 | 5.7% | 5.7% |
| 1 The Group also comprises Annelies Häcki Buhofer, Philipp Buhofer, Martin Buhofer and Julia Häcki, if acting in mutual agreement 2 The Group comprises Ursula Stöckli-Rubli, Walter Stöckli-Rubli, Elisabeth Stöckli Enzmann, Johannes Stöckli, Matthias Stöckli, Helen Jauch-Stöckli, Hubert Stöckli and Othmar Stöckli |
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6 | Share ownership by current members of the corporate bodies
| numbers | Series A registered shares as at 31.12.2015 | Series B registered shares as at 31.12.2015 | Series A registered shares as at 31.12.2014 | Series B registered shares as at 31.12.2014 |
| Hannes Wüest, chairman | 0 | 500 | 0 | 500 |
| Heinz M. Buhofer, member | 563 040 1 | 1 | 563 040 1 | 1 |
| Prof. Dr. Annelies Häcki Buhofer, member | 161 206 1 | 10 762 | 154 062 1 | 10 762 |
| Armin Meier, member | 0 | 100 | 0 | 60 |
| Dr. Beat Schwab, member | 0 | 10 | 0 | 10 |
| Heinz Stübi, member | 0 | 110 | 0 | 90 |
| Martin Wipfli, member | 0 | 266 | 0 | 266 |
| Tobias Achermann, CEO | 0 | 0 | 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 members of the board of directors and Group Management or employees.
7 | Treasury shares
In the year under review, Zug Estates Holding AG sold 18 400 series A registered treasury shares at an average price of CHF 138.25.
As at December 31, 2015, Zug Estates Holding AG holds 17 592 series B registered treasury shares stated at historical acquisition costs of TCHF 21 688 (previous year: 18 400 series A registered shares and 17 592 series B registered shares stated at TCHF 24 134).
8 | Financial income
Financial income comprises interest received on loans to Group companies and income from securities. In the previous year, income was also included from the revaluation of treasury shares by TCHF 1 504 to its acquisition cost. This income item arose due to the first-time 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 (unchanged).
10 | Significant events after the balance sheet date
No events that must be disclosed took place after the balance sheet date.