BKW FMB Energy Ltd Annual Report 2003

52
25 Related parties
The following transactions were conducted with E.ON Group companies at the same
conditions as with third parties:
CHF (million) 2003 2002
Electricity sales 100.9 112.0
Electricity procurement 156.0 107.3
Compensation paid to the BKW Board of Directors in 2003 amounted to CHF 0.8
million (2002: CHF 0.6 million). No payment was made in the form of stock (in 2002,
27 bearer shares were assigned at a par value of CHF 500). Compensation paid to
the Executive Board (including the Extended Executive Board) amounted to CHF 2.9
million (2002: CHF 2.7 million), and 272 registered shares were assigned at a par value
of CHF 25 (2002: 27 bearer shares at a par value of CHF 500).
Individual members of the Board of Directors perform additional services on behalf of
BKW outside their Board mandate. These services are insignifi cant in fi nancial terms
and are remunerated at market-standard fees.
BKW Energy Ltd acquired 174,240 of its own shares from the canton of Berne at the
price of CHF 320 per share.
26 Events after the balance sheet date
On 1 January 2004 BKW acquired from the municipality of Grindelwald 118 shares in
Elektrizitätswerk Grindelwald AG at the price of CHF 1.85 million.
No further events requiring specifi c disclosure have occurred since the balance
sheet date.