Annual Report 2002
Annual Report 2002
Annual Report 2002
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5.4 Share allotment in the year under review<br />
In the <strong>2002</strong> financial year, members of the Board of<br />
Directors and Board of Management were allotted a total<br />
of 1,759 bearer shares of VP Bank (CHF 10 par value),<br />
of which Board members received 964 shares and members<br />
of the Board of Management received 795 shares.<br />
No party closely related to these governing bodies<br />
received any allotment of shares.<br />
5.5 Share ownership<br />
In toto, members of the Board of Management and parties<br />
closely related to them held as at December 31, <strong>2002</strong>,<br />
a total of 8,946 shares of VP Bank AG, Vaduz.<br />
In toto, members of the Board of Directors and parties<br />
closely related to them (albeit excluding the qualified<br />
shareholders indicated in point 1.2, above, ‘Significant<br />
shareholders’) held as at December 31, <strong>2002</strong>, a total<br />
of 116,600 shares of VP Bank AG, Vaduz.<br />
5.6 Options<br />
VP Bank has issued no options on its equity securities or<br />
any other derivative financial instruments.<br />
5.7 Additional fees and remunerations<br />
In connection with agency services provided within the<br />
framework of normal banking activities, VP Bank also<br />
remunerates legal entities who could be deemed to be<br />
closely related to members of the company’s governing<br />
bodies. Such payments correspond to customary conditions<br />
within the financial services industry. Existing<br />
Liechtenstein laws governing client secrecy do not permit<br />
disclosure of the precise amounts of such payments.<br />
5.8 Loans to members of governing bodies<br />
As at December 31, <strong>2002</strong>, the following loans were outstanding<br />
to members of the Board of Directors, Board of<br />
Management, as well as parties closely related to those<br />
individuals:<br />
in CHF 1000 Number of Total loans Interest rate Term to maturity Type of loan/<br />
persons range collateral<br />
Board of Management and Unlimited Lombard<br />
related parties 2 2,620 2.5 % - 3.25 % 2-4 years or in cases unlimited Mortgages<br />
Board of Directors and<br />
related parties, as well as 1 /2 year or in cases unlimited Lombard -as well asqualified<br />
shareholders 5 93,747 2.5 % - 3.5 % 3 years or in cases unlimited Mortgages<br />
Total 7 96,367<br />
annual report <strong>2002</strong> | vp bank | page 43
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