Annual Report 2010 - Falck

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Cash flow statement for the year ended 31 December Parent Company | Falck Annual Report 2010 103 Note DKK million 2010 2009 Total revenue 7 7 Total costs (31) (16) Profit/(loss) before financials (24) (9) Changes in outstanding balances with Group companies 42 42 14 Net financials (82) (92) 8 Income taxes paid 30 31 CASH FLOW FROm OPERATING ACTIVITIES (34) (28) Dividends received from Group companies 557 250 15 Other movements relating to shareholders 24 35 Changes in interest-bearing outstanding balances with Group companies (776) (6) Interest-bearing debt raised 522 - Repayment of and change in interest-bearing debt (286) (250) CASH FLOW FROm FINANCING ACTIVITIES 41 29 Change in cash 7 1 Cash at beginning of year 1 - CASH AT YEAR-END 8 1
104 Falck Annual Report 2010 | Parent Company Notes to the parent company financial statements Note DKK million 2010 2009 1 Accounting policies See note 1 to the Group financial statements for a description. 2 Other operating income Management fees from Group companies 7 7 Total other operating income 7 7 3 Fees to auditors appointed at the annual general meeting KPmG Audit (1) (1) Preparation of a potential IPO (8) - Total fees (9) (1) 4 Staff costs Ordinary remuneration to the Executive Management Board (7) (8) Remuneration to the Executive Management Board relating to preparation of a potential IPO (7) - Remuneration to the Board of Directors (2) (1) Total (16) (9) Of which reinvoiced 3 - Total staff costs (13) (9) Number of full-time employees 2 2 The rate of increase in remuneration to the Executive Management Board excluding bonus was 2% in 2010 (2009: 0%). Remuneration to the Executive Management Board includes pension contributions of - 1 The service contracts for the members of the Executive Management Board include severance periods which, in the case of resignation by an executive, are 6 months and, in the case of termination by the company, are 12 months. Warrant programme, Executive management Board Number of warrants at 1 January 4,443,120 4,443,120 Buy back in the period. See note 21 to the Group financial statements (4,443,120) - Warrants at 31 December - 4,443,120 In December 2010, the Group acquired the existing warrants from the Executive Management Board through a cash buy back at market value. See note 37 to the Group financial statements. The warrant programme was subsequently cancelled in February 2011. 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. 5 Exceptional items Costs related to preparation of a potential IPO (20) - Total exceptional items (20) -
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