Annual Report 2010 - Falck

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Notes to the parent company financial statements Parent Company | Falck Annual Report 2010 111 Note DKK million 2010 2009 18 Related parties As a parent company, Falck A/S has a controlling interest in the Group. 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: Group contributions, paid 3 3 Group contributions, received 7 7 Costs invoiced to Falck L.P. 6 - Payment received for change of warrant terms, Executive Management Board - 1 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 - 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 to the Group financial statements. 19 New financial reporting regulations See note 38 to the Group financial statements for a description. 20 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. See note 7 to the Group financial statements for further information about the warrant programme.
112 Falck Annual Report 2010 | Statements Management’s statement The Board of Directors and the Executive Management Board today considered and approved the annual report of Falck A/S 2010. The annual report has been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the EU and additional Danish disclosure requirements for annual reports. In our opinion, the accounting policies applied are appropriate, and the Group’s and the parent company’s financial statements give a true and fair view of the Group’s and the parent company’s assets, liabilities and financial position as at 31 December 2010 and of the results of the Group’s and the parent company’s operations and cash flows for the financial year 1 January – 31 December 2010. Furthermore, in our opinion, the Management review includes a fair review of developments in the Group's and the parent company's activities and finances, the profit for the year and the Group’s and the parent company’s financial position. We recommend that the annual report be approved by the shareholders at the annual general meeting. Copenhagen, 15 March 2011 Executive management Board: Allan Søgaard Larsen Morten R. Pedersen President and CEO Deputy CEO Board of Directors: Lars Nørby Johansen Lars Terney Thorleif Krarup Chairman Deputy Chairman Deputy Chairman Steen Hemmingsen Kim Gulstad Johannes Due Mats Jansson Thorhild Widvey Vagn Flink Møller Pedersen * Jan Heine Lauvring * Per Aastrup * * Elected by the employees
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Annual Report 2010 - Falck

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