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calculating the number of personnel has been adjusted Company shares: 30.9.2014 30.9.2013
to meet the recommendation of the Accounting Standards
Board (FAS) on part-time employment contracts. The num- 1 vote/share 2 990 665 shares 2 837 465 shares
bers of employees for previous financial year 1.10.2012 –
30.9.2013 have been adjusted to be equivalent to the new The company’s own shares
calculation method taken into use during financial year
1.10.2013 – 30.9.2014. On 18 June 2014 the Extraordinary General Meeting of
Holiday Club Resorts Oy authorised the Board to purchase
Ownership structure company’s own shares within the amount of reserve for
invested non-restricted equity. On the basis of authorisa-
On 18 June 2014 the Extraordinary General Meeting of tion, the Board may purchase a maximum of 100,000.00
Holiday Club Resorts Oy authorised the Board to decide to company’s shares. The purchase price for the shares
in-crease share capital through one or several new stock must be at minimum €10.00 per share and a maximum of
issues. On the basis of shares issued, the share capital €25.00 per share. The Board is authorised to decide the
may be in-creased by a maximum of €600,000.00 or less, purchase price between aforementioned prices. The au-
by issuing a maximum of 200,000 new shares in the com- thorisation is valid for 18 months.
pany with a nominal value of €3.00. The subscription price
of the shares is at minimum €20.00 per share, of which At the beginning of the financial year, the company owned
€3.00 per share is transferred to the company’s share 31,800 of its own shares, which were cancelled during
capital and €17.00 to reserve for invested non-restricted the financial year under authorisation granted by the
equity. The subscription price is based on the yield value Extraordinary General Meeting on 18 June 2014.
and the future prospects of the company.
The board and the auditor
The ownership of the company was expanded during The Extraordinary General Meeting on 7 August 2014 de-
the financial year by selling 380,000 shares owned by cided to elect Arun Nanda of the Mahindra & Mahindra
the compa-ny’s owners to Covington S.A.R.L. (part of the group as a new member of the company board. In addi-
Mahindra & Mahindra group of India) and by a directed tion to Arun Nanda, the members of the board were Teuvo
issue of 150,000 shares to Covington S.A.R.L. Salminen (chairman), Timo Rantala, Rauno Puolimatka,
Mika Kiljunen and Antti Heikinheimo during the financial
Ownership structure of the company 18,58 % year. The managing director of the company was Vesa
on 30 September 2014 17,72 % Tengman.
Mangaki 11,26 %
Covington S.A.R.L 9,81 % PricewaterhouseCoopers Oy was the primary auditor and
Varma Mutual Pension Insurance Company 7,69 % Eero Suomela, APA, the responsible auditor.
Suomen Teollisuussijoitus Oy 5,54 %
Rausanne Oy 4,88 % Board proposal for distribution of profit
Ilmarinen 2,49 %
Fennia Group 22,03 % The parent company’s assets eligible for profit distribu-
Procurator-Holding Oy tion were €36,053,490.75 of which the profit for the finan-
Company Management and others cial year was €1,513,059.81.
Holiday Club Resorts Oy Annual Report 2013–2014 13
