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Unformatted text preview: of up to NOK 1.5 billion and additional funding will be disbursed in
portions to meet minimum funding requirements only. See note 29.
As of 31 December 2011, uninor had NOK 1.1 billion in purchased bank guarantees with counterguarantee from Telenor ASA.
The Group’s shares in the associated company RiksTV AS are pledged as security for the external financing of the company. See note 21. / 33 / Contractual obligations
The Group has entered into agreements with fixed payments in respect of the following as of 31 December 2011 and as of 31 December 2010:
NOK in millions 2012 2013 2014 2015 2016 After 2016 Minimum lease payments under non-cancellable
operating leases (the Group as a lessee)
lease of premises lease of cars, office equipment, etc lease of satellite- and net-capacity 2 078 50 393 1 756 32 301 1 553 17 234 952 7 79 729 - 40 1 807
26 Contractual purchase obligations
Purchase of satellite- and net-capacity iT-related agreements Other contractual obligations 22 1 548 2 009 23 397 359 11 69 73 8 23 21 8 23 21 4
67 Committed investments
Property plant, and equipment and intangible asset Total contractual obligations 2 941 9 040 700 3 569 65 2 021 - 1 090 - 822 1 928 /page 73/
telenor annual report 2011
notes to the financial statements / telenor group 2010:
NOK in millions 2011 2012 2013 2014 2015 After 2015 Minimum lease payments under non-cancellable
operating leases (the Group as a lessee)
lease of premises lease of cars, office equipment, etc lease of satellite- and net-capacity 2 215 68 249 1 992 28 167 1 832 13 110 1 605
2 102 884 - 95 2 469
12 Contractual purchase obligations
Purchase of satellite- and net-capacity iT-related agreements Other contractual obligations 389 748 2 078 - 229 1 135 - 54 269 - 30 47 - 1 21 84 Committed investments
Property, plant and equipment and intangible asset Total contractual obligations 707 6 454 - 3 551 - 2 277 - 1 787 - 1 001 2 565 The tables above do not include agreements under which the Group has no committed minimum purchase obligations. Obligations related to
future investments as a consequence of 2G license renewal in Grameenphone are included in “Committed investments in Property, plant and
equipment and intangible asset” with NOK 1.2 billion for the period of 2012-2013.
Tower leasing obligations in uninor is included in “Minimum lease payments under non-cancellable operating leases” as of 31 December
2011 with NOK 4.7 billion for the period of 2012–2016 and NOK 1.2 billion after 2016.
DTAC’s concession right
DTAC is obliged to pay an annual fee to CAT Telecom Public Company Limited (CAT) in accordance with the concession agreement. The
annual fee is based on the greater of a minimum annual payment and a percentage of revenues from services. The minimum annual
payments are not included above. The yearly minimum payments for the period 2012–2018 fluctuate in a range from NOK 142 million to NOK 227 million (converted from THB to NOK based on the exchange rate as of 31 December 2011). For further information regarding DTAC’s
concession right, see note 19. / 34 / Related parties
As of 21 March 2012, Telenor ASA was 53.97% (including treasury shares) owned by the Kingdom of Norway, represented through the Ministry
of Trade and Industry.
The Board of Telenor ASA has been given authority by the General Meeting to carry through share buy backs with the purpose to cancel these
shares through reduction of share capital. The cancellation requires approval from the General Meeting. Telenor ASA has entered into an
agreement with the Ministry of Trade and Industry whereby it is agreed that such buy-back and cancellation should not affect the Ministry’s
shareholding. As a result, the Group is required to redeem a proportionate number of shares owned by the Ministry. The same General Meeting
approving the cancellation of treasury shares, will be asked to approve the redemption of the shares owned by the Ministry against payment
of an amount that corresponds to an average volume of weighted price at the time of the repurchase of treasury shares in the market
together with compensation for interest.
The Norwegian telecommunications market is governed by the Electronic Communications Act of 4 July 2003 and other regulations issued
pursuant to this Act. until it expired 1 September 2004, the Group had to provide and maintain universal Service Obligations (uSO) according
to the concession on fixed network. Thereafter it was carried on through an agreement between the Group and the Norwegian Ministry of
Transport and Communications. The uSO obligation entails among other things the provision of Public voice telephony and access to Internet
to all households and companies, public pay phones, services for the disabled and for controlling end users expenses. The Group receives no
compensation for providing uSO services.
In addition, the Group was in 2011 and 2010 subject to Special Service Obligations (SSO) – security and preparedness (the defence of Norway) – following an agreement with the Norwe...
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- Spring '14