Annual Report 2010 311 - Verbundnetz Gas AG
Annual Report 2010 311 - Verbundnetz Gas AG
Annual Report 2010 311 - Verbundnetz Gas AG
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Notes | <strong>Annual</strong> <strong>Report</strong> <strong>2010</strong><br />
Emoluments of board members<br />
The total emoluments of the Executive Board of VNG – <strong>Verbundnetz</strong> <strong>Gas</strong> Aktiengesellschaft for the <strong>2010</strong><br />
financial year amounted to € 1,987,521.22 (2009: € 2,844,020.47). As Chairman of the Supervisory<br />
Board of an affiliated company, one member of the VNG Executive Board also received emoluments<br />
of € 2,000.00. In 2009, two members of the VNG Executive Board had received emoluments of €<br />
2,000.00 as members of the Supervisory Board of the affiliate. The emoluments of retired Executive<br />
Board members and their surviving dependants in the <strong>2010</strong> financial year totalled € 1,016,366.04<br />
(2009: € 255,520.32). Provisions for ongoing pensions for former Executive Board members and their<br />
surviving dependants amount to € 8,605,848.00 (2009: € 5,294,193.00). Pension obligations of<br />
€ 958,072.00 are not shown in the balance sheet in exercise of the option permitted by Article 67 (1) of<br />
the Act Introducing the German Commercial Code. As at December 31, <strong>2010</strong>, a loan to a member of the<br />
Executive Board with a remaining term until 2013 was outstanding in the amount of € 39,000.00 (2009:<br />
€ 52,000.00). Interest is payable on the loan at a rate of 5 % p.a. A provision of € 138,000.00 (2009:<br />
€ 241,600.00) was formed in the <strong>2010</strong> financial year for the emoluments of the Supervisory Board.<br />
Participation pursuant to Article 20, German Stock Corporation Act<br />
As of the balance sheet date, EWE Aktiengesellschaft, Oldenburg, and VNG <strong>Verbundnetz</strong> <strong>Gas</strong> Verwaltungs-<br />
und Beteiligungsgesellschaft mbH, Halle (Saale) each held a share of more than 25 per cent in<br />
VNG – <strong>Verbundnetz</strong> <strong>Gas</strong> Aktiengesellschaft, Leipzig.<br />
Consolidated financial statements<br />
VNG – <strong>Verbundnetz</strong> <strong>Gas</strong> Aktiengesellschaft, Leipzig, has prepared consolidated financial statements<br />
for the year to December 31, <strong>2010</strong>. In accordance with Section 285, No, 17, German Commercial Code,<br />
the total fees paid to the auditor are not stated as the information is given in consolidated financial<br />
statements in which the company is included.<br />
Leipzig, March 7, 2011<br />
VNG – <strong>Verbundnetz</strong> <strong>Gas</strong> Aktiengesellschaft<br />
The Executive Board<br />
Dr Heuchert Dr Barbknecht Barthel Ludwig<br />
57
Change language