Annual Report 2010 - Falck

96 Falck Annual Report 2010 | Group
Notes to the Group financial statements
Note DKK million 2010 2009
37 Related parties
The Group’s related parties are the members of Falck L.P., LFI A/S, the Board of Directors
and the Executive Management Board as well as their family members. Related parties also
comprise companies in which the individuals mentioned above have material interests.
The company's shareholders who each hold more than 5% of the shares are:
LFI A/S, Hellerup 36.0% -
Falck L.P., Jersey 43.9% 71.9%
ATP PEP 1 K/S, Copenhagen 6.4% 10.5%
Liberatio A/S, Aarhus 5.2% 4.8%
Related parties also comprise Group companies and associates in which the company has
a controlling or significant influence, as well as the members of the Boards of Directors,
Executive Management Boards and senior management of those companies. Related parties
also comprise companies in which the individuals mentioned above have material interests.
The company has only to a limited extent traded with related parties. Transactions with
related parties have taken place on market terms.
Transactions with Group companies have comprised the following:
Purchase of services from associated companies 38 19
Payment received for change of warrant terms, Executive Management Board - 1
Costs invoiced to Falck L.P. 6 -
Buy back of warrants, Executive Management Board 307 -
Capital increase, Board of Directors - 39
Purchase of treasury shares - 5
Sale of treasury shares, Board of Directors 1 -
Sale of treasury shares, Executive Management Board 29 -
Transactions with Group companies have been eliminated in the consolidated financial statements in accordance with the accounting policies.
Buy back of warrants was made at DKK 69.05 per warrant.
No transactions have taken place during the year with members of the Board of Directors, the Executive Management Board, senior
management or significant shareholders, other than those mentioned above and the remuneration disclosed in note 7.
38 New financial reporting regulations
The IASB has issued the following new financial reporting standards (IAS and IFRS) and interpretations (IFRIC), which are not
mandatory for the Group in the preparation of the annual report for 2010:
IFRS 9, amendment to IFRIC 14, IFRIC 19, revised IAS 24, amendments to IFRS 1, amendment to IFRS 7, amendment to IAS 32, improvements
to IFRSs (May 2010) and amendments to IAS 12.
IFRS 9, amendments to IFRS 1, IFRS 7 and IAS 12 have not yet been adopted by the EU.
The standards and intertrepretations adopted with a different effective date in the EU than the corresponding effective dates from the
IASB, will be implemented early so that their implementation follows the IASB's effective dates for financial years beginning on or after
1 January 2011. None of the new standards or interpretations are expected to have a material impact on the financial statements of the
Group and Falck A/S.
39 Events after the balance sheet date
At the extraordinary general meeting held on 25 February 2011, the Board of Directors was authorised to establish a new warrant
programme. At the Board Meeting held on 15 March 2011, the Board of Directors adopted a resolution to establish a new warrant
programme for the Executive Management Board. The new warrant programme comprises 4,443,120 warrants. Each warrant entitles the
holder to subscribe for one share with a nominal value of DKK 0.50 on 30 December 2015 at a price of DKK 125 per share. The warrants issued
were acquired at market value, equivalent to DKK 11 million, and there are no conditions attached to the acquisition of the warrants.
At 1 January 2011, Falck signed an agreement to acquire 100% of LifeStar Response Corporation in the United States for DKK 186 million.
The company operates ambulance services in 6 states and in Washington D.C. in the eastern part of the United States and operates 440
ambulances and similar vehicles.