Annual Report 2005 - Walter Meier

WMH Walter Meier Holding AG
Notes to the financial statements
Contingent liabilities
CHF mil. 12/31/05 12/31/04
Guarantees to subsidiaries for available credit limits 147.9 134.8
Guarantees on behalf of subsidiaries 16.0 15.4
In association with the contract for the syndicated credit, guarantees were issued:
The company has entered into a guarantee on behalf of most subsidiaries, in each
case for the amount of the respective equity less share capital and statutory
reserves, defined on the date of the balance sheet as the freely disposable equity
according to Swiss law, maximum CHF 165.0 (165.0) million. Conversely, also in
association with this contract, most subsidiaries guarantee the obligations of
WMH Walter Meier Holding AG.
Subordinated loans
CHF mil. 12/31/05 12/31/04
Subordinated loans to subsidiaries 0.5 0.3
Marketable securities
This line item contains treasury shares and other marketable securities. All securities
are valued at market prices.
Registered shares in treasury
Number Purchase price
CHF mil.
Balance at 1/1/05 308 029 13.9
Reduction in capital as decided by the Annual Shareholders’ Meeting on May 2, 2005 -200 000 -5.0
Subtotal 108 029 8.9
Additions 7 491 0.6
Disposals -42 592 -3.2
Balance at 12/31/05 72 928 6.3
The capital was reduced by retiring 200 000 -A- registered reserve shares in treasury
with a nominal value of CHF 25.00 each. The other additions and disposals were
at market prices. As part of the net reduction of CHF 7.6 million, the reserve for
treasury shares was reduced in favor of the free reserves.
Share capital
Information relating to the composition of the share capital is presented on page 4.
Guarantees on behalf of subsidiaries relate mainly to guarantees to lessors for real
estate sold and leased back by subsidiaries, as well as guarantees in relation to
interest hedging and leasing transactions affecting some subsidiaries. The actual
amount utilized on 12.31.05 was CHF 2.7 mil.