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REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
15.-EQUITY
15.1 Subscribed Share Capital
On 26 June, the increase in the share capital of NH Hotel Group, S.A. was executed and completed. The capital increase involved the issue of
42,000,000 new ordinary shares, each with a par value of €2, with an issue premium of €2.70 per share which were fully subscribed and paid up by
Intesa San Paolo, S.p.A. through the contribution of 445,000 shares representing 44.5% of the share capital of NH Italia, S.p.A.
At 31 December 2014 the Parent Company’s share capital after the capital increase was represented by 350,271,788 fully subscribed and paid up
bearer shares, each with a par value of €2.
All these shares are entitled to identical voting and economic rights and are traded on the Continuous Market of the Madrid, Barcelona, Bilbao and
Valencia Stock Exchanges.
According to the latest notifications received by the Parent Company and the notices given to the National Securities Market Commission before the
end of every financial year, the most significant shareholdings at 31 December 2014 and 2013 were as follows:
2014
2013
HNA Group Co Limited
29.50%
20.00%
Grupo Inversor Hesperia, S.A.
9.24%
20.07%
Banco Santander, S.A.
8.57%
-
Intesa Sanpaolo, S.p.A*
7.64%
4.52%
UBS Group AG
2.01%
-
Blackrock Inc.
2.31%
5.62%
Fidelity International Limited
0.96%
1.47%
Banco Financiero y de Ahorros, S.A.
-
12.60%
Pontegadea Inversiones, S.L.
-
4.06%
Shares allocated to Employee Remuneration Schemes
0.10%
-
Shares owned by NH employees
0.07%
0.12%
*In January 2015, Intesa San Paolo through UBS Limited transferred 100% of its shares in NH Hotel Group, S.A. to a group of accredited investors, and therefore at the date of drafting these
Annual Accounts, Intesa San Paolo is no longer a Company shareholder.
At year-end 2014 and 2013, members of the Board of Directors were the holders or stable proxies of shareholdings representing approximately
46.43% and 61.43% of the share capital, respectively.
The main aims of the Group’s capital management are to ensure short-term and long-term financial stability, a positive trend for NH Hotel Group,
S.A. share prices, and suitable funding for investments while maintaining the level of indebtedness. All the above is geared towards ensuring that
the Group maintains its financial strength and the strength of its financial ratios, enabling it to maintain its businesses and maximise value for its
shareholders.
In recent years, the Group’s strategy has not varied, maintaining a financial leverage ratio of 0.53x. The leverage ratios at 31 December 2014 and
2013 were as follows:
€Thousand
2014
2013
Bonds and other marketable securities (Note 16)
467,499
461,949
Bank borrowings and other financial liabilities (Note 16)
339,855
417,339
Gross debt
807,354
879,288
Cash and cash equivalents (Note 14)
200,103
133,869
Liquid assets
200,103
133,869
Total Net Debt
607,251
745,419
Total Equity
1,136,668
1,153,471
Financial leverage
0.53
0.64
