Annual Report 2008 - Securitas

104
Annual report
Notes and comments to the consolidated financial statements
Number of shares outstanding December 31, 2008 MSEK
Series A 17,142,600
Series B 347,916,297
each share with a quota
value of SEK 1.00 17.1
each share with a quota
value of SEK 1.00 348.0
Total 365,058,897 365.1
The number of Series A and Series B shares is unchanged in relation to
December 31, 2007. As of December 31, 2008 there where no outstanding
convertible debenture loans that could result in any dilution ot the share
capital.
Each Series A share carried ten votes and each Series B share one vote.
This is the only difference between the two series of shares.
Shareholders with more than 10 percent of the votes
The principal shareholders are Investment AB Latour, which together with
SäkI AB, Förvaltnings AB wasatornet and Karpalunds Ångbryggeri AB holds
11.6 percent of the capital and 30.0 percent of the votes, and Melker Schörling
AB, which holds 5.6 percent of the capital and 11.8 percent of the votes.
Dividend
The Board of Directors and the President propose a dividend to the
shareholders of the Parent company of SEK 2.90 per share, or a total of
MSEK 1,058.7. The dividend to the shareholders for the previous year
2007, which was paid out in 2008, was SEK 3.10 per share, or a total of
MSEK 1,131.7. The dividend to the shareholders for 2006, which was
paid in 2007, was SEK 3.10 per share, or a total of MSEK 1,131.7.
Presentation of Shareholders’ Equity
According to IAS 1 a company should as a minimum present issued capital
and other reserves in balance sheet. Securitas AB has chosen to specify
Shareholders’ equity into further components in accordance with the table
above;
• Share capital
• Other capital contributed
• Other reserves
• retained earnings
The Share capital shows the registered share capital of the Parent company.
There were no changes in the share capital in 2008.
In other capital contributed, the total amount of all transactions Securitas
AB has had with its shareholders is included. Transactions that have taken
place with shareholders are issued capital to premium.
The amount presented in this sub-component corresponds to capital
received (reduced by commission costs) in excess of par value of issued
capital. Other capital contributed amounts to MSEK 7,362.6 as of December
31, 2008 (7,362.6 and 7,362.6).
Other reserves shows certain income and expense items that according
to certain standards should be recognized directly in equity. In the case of
Securitas, the item consists of translation differences attributable to the
translation of foreign subsidiaries according to IAS 21, and of the hedging
reserve of cash flow hedges.
Retained earnings corresponds to the accumulated profits earned and
losses incurred in total for the Group.
The amount in the hedging reserve will be transfered to the statement
of income over the following two year period.
Securitas Annual report 2008
Note 30. Convertible debenture loans
Loan 2002/2007 Series 1–4
The loan was issued within the framework of Securitas’s employee incentive
program on May 2, 2002 to Securitas Employee convertible 2002 Holding
S.A., a special-purpose, Luxembourg-based company in which employees
had subscribed for shares. The loan matured on May 2, 2007 when the loan
was fully paid back and no conversions have taken place.
For further information, refer to Securitas Annual report 2007, Note 30.
Note 31. Long-term liabilities excluding provisions 1
MSEK 2008 2007 2006
EMTN Nom MEUr 45, 2008/2013,
FrN Semi Annual 2 491.5 – –
EMTN Nom MEUr 500, 2001/2008,
6.125 % 3 – – 4,575.6
Finance leases 127.9 218.4 298.0
Other long-term loans 4 6,406.5 7,116.0 33.3
Total other long-term loan
liabilities excluding derivatives 7,025.9 7,334.4 4,906.9
Cash flow hedges
Derivatives with negative fair value,
long-term 122.5 14.6 –
Total derivatives 122.5 14.6 –
Total other long-term loan liabilities 7,148.4 7,349.0 4,906.9
Pensions balances, defined
contribution plans 5 67.7 58.3 54.0
Other long-term liabilities 133.9 87.2 314.9
Total other long-term liabilities 201.6 145.5 368.9
Total long-term liabilities 7,350.0 7,494.5 5,275.8
1 For further information regarding financial instruments, refer to Note 6.
2 Bond loan EMTN Nom MEUr 45 was issued by the Parent company.
3 Bond loan EMTN Nom MEUr 500 was issued by the Parent company. Interest on the bond loan refers
to the coupon rate of interest for the entire loan period. The loan matured on March 14, 2008 and was
included under Short-term loan liabilities as per December 31, 2007.
4 Includes loans under the MEUr 550 syndicated term loan facility. This facility, which is fully drawn, has
been reclassified as long-term in its entirety. Comparatives for 2007 have been restated. It also includes
long-term drawdowns of loans raised within the MUSD 1,100 Multi currency revolving credit Facility.
5 refers to liability for insured pension plan excluding social costs.
LONG-TErM LIABILITIES FALL DUE FOr PAyMENT AS FOLLOwS
MSEK 2008 2007 2006
Maturity < 5 years 7,282.3 7,425.7 5,245.5
Maturity > 5 years 67.7 68.8 30.3
Total long-term liabilities 7,350.0 7,494.5 5,275.8