Panalpina Annual Report 2011

Participations
Annual Financial Statements 2011
The principal direct and indirect subsidiaries of Panalpina World Transport (Holding) Ltd. are listed under the heading “Principal Group
companies and participations” on pages 122 to 125.
Financial assets
In 2011, for the first time investments into fix term deposits were done, the investments amount to CHF 34.2 million.
Own shares
In the year under review, treasury shares purchased totaled 79,042 shares (2010: 94,142 shares) with an average purchase price per
share of CHF 109.02 (2010: CHF 111.96) and treasury share sales totaled 68,492 shares (2010: 69,123 shares) with an average sale price
of CHF 68.40 (2010: CHF 74.14). Of these shares a total of 118,092 (2010: 107,542) are held for serving the employee option plan.
The other 1,250,000 shares (2010: 1,250,000) are held for the share buyback program. This program was launched in 2007 by the Board
of Directors to return excess capital to the shareholders. The share buyback program includes up to 5 % of the total share capital, which
represents a maximum of 1,250,000 registered shares. The number of treasury shares held by Panalpina World Transport (Holding) Ltd.
meets the definitions and requirements of art. 659, 659a, 663b para 10 and 671a SCO.
Number of shares
31.12.2011
Movement
in year
31.12.2010
Movement
in year
31.12.2009
Total Panalpina World Transport (Holding) Ltd. shares
issued
Total treasury shares held by Panalpina World Transport
25,000,000 0 25,000,000 0 25,000,000
(Holding) Ltd. 1,368,092 10,550 1,357,542 25,019 1,332,523
in % 5.47 5.43 5.33
Provisions
An amount of CHF 1.8 million is related to the obligations Panalpina has accepted under the DPA as mentioned in note 31.
Share capital
As in the previous year, the fully paid-in share capital on December 31, 2011 amounts to CHF 50 million consisting of 25 million registered
shares at a par value of CHF 2.00 each. With regard to the authorized capital increase and share buyback program we refer to note 23 in the
Group’s financial statements.
in % 2011 2010
Shareholders
Ernst Göhner Stiftung, Switzerland 43.58 43.58
Cevian Capital II Master Fund L.P. 11.37 10.31
Bestinver Gestión, S.G. SGIIC, Spain 5.05 –
Artisan Partners Limited Partnership, USA
Portfolio investment (according to the share register, there are no more shareholders
5.01 5.01
with holdings of more than 3 % or 5 %) 29.52 35.67*
Panalpina World Transport (Holding) Ltd. 5.47 5.43*
Nominees
Chase Nominees Ltd., UK 5.23 6.02
* restated considering own shares of Panalpina
Panalpina Annual Report 2011
137