1. Group structure and shareholder base
1.1 Group structure
1.1.1 Description of the Group’s operating structure
VP Bank Ltd, Vaduz, is a joint-stock company constituted in accordance with Liechtenstein law. It is the parent company of VP Bank Group. The organisational chart on page 18 shows the Group’s operating structure and reflects the organisation of VP Bank Group on a segment-by- segment basis.
The subsidiary companies and material shareholdings included in the scope of consolidation are listed in the financial report (see page 141), together with their names, registered offices, share capital and percentage of share capital held.
The Executive Board of the parent bank is designated as “Group Executive Management (GEM)”. It bears responsibility for the operative management of the parent bank as well as assuming the function as Group Executive Management for VP Bank Group1. In principle, the members of the Executive Board are represented on the boards of directors of the consolidated companies. As a general rule, either the Chief Executive Officer or another member of the Executive Board acts as Board Chairman of the given subsidiary company.
1.1.2 Listed companies included in the scope of consolidation
The bearer shares of VP Bank, Vaduz, are listed on SIX Swiss Exchange; the registered shares of the company are not listed.
| ISIN | Security | Year-end closing price in CHF | Market value | |
Registered shares (unlisted) | LI0010737596 | 1.073.759 | 8.50 | 51 |
|
Bearer shares (listed) | LI0010737216 | 1.073.721 | 85.00 | 452 | |
Total (market capitalisation of the bearer shares plus market value of the registered shares) | 503 |
| |||
- Stock market capitalisation of listed bearer shares as of 31 December 2014
No other listed companies are included in the scope of consolidation.
1.2 Significant shareholders (anchor shareholders)
As of 31 December 2014, the following shareholders declared that they own more than 10 per cent of the share capital of VP Bank or exercise more than 5 per cent of the voting rights.
Shareholders | Registered shares | Bearer | Voting | Voting | Ownership |
Stiftung Fürstlicher Kommerzienrat Guido Feger, Vaduz | 4,452,447 | 1,026,406 | 5,478,853 | 48.4% | 24.9% |
U.M.M. Hilti-Stiftung, Schaan | 658,370 | 540,709 | 1,199,079 | 10.6% | 10.3% |
Ethenea Independent Investors S.A., Luxembourg | 0 | 855,395 | 855,395 | 7.6% | 14.5% |
During the period under review, no further disclosure notifications were received within the meaning of Art. 25 of the Liechtenstein Law Governing the Disclosure of Information Relating to Issuers of Securities and of Art. 20 of the Swiss Federal Act on Stock Exchanges and Securities Trading. There are no shareholder agreements.
1.3 Cross-shareholdings
VP Bank has not entered into any cross-shareholdings with other companies involving share capital or voting rights.