Page 83 telenor annual report 2011 notes to the

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Unformatted text preview: 2 G and 30% of base salary above 12 G. in addition, annual contribution of 10% of base salary for early retirement scheme. Retirement age 65. 60% defined benefit of base salary until the age of 75, thereafter 58%. Retirement age 65. 60% defined benefit of base salary until the age of 72, thereafter 58%. Retirement age 62. 60% defined benefit of base salary until the age of 72, thereafter 58%. Retirement age 62. defined Contribution, 4% of 1–6 G, 8% of 6–12 G and 30% of base salary above 12 G. in addition, annual contribution of 10% of base salary for early retirement scheme. Retirement age 65. 60% defined benefit of base salary until the age of 72, thereafter 58%. Retirement age 62. 60% defined benefit of base salary until the age of 72, thereafter 58%. Retirement age 62. Jon Fredrik baksaas 6 months Richard Olav Aa 6 months Kristin skogen lund 6 months sigve brekke 6 months bjørn Magnus Kopperud 6 months Morten Karlsen sørby 6 months Hilde Tonne 6 months Oddvar Hesjedal 6 months berit svendsen 6 months /page 82/ telenor annual report 2011 notes to the financial statements / telenor group Options and shares 2011 shares Available Average Average from the lTi shares Options exercise Options exercise programme (incl. restricted) held as of price on held as of price 1 January Exercised exercised 31 december outstanding 2011 options options - - - - 10 000 - - - - - - - - - 74.90 - - - - - Jon Fredrik baksaas Richard Olav Aa Kristin skogen lund sigve brekke Jan Edvard Thygesen Morten Karlsen sørby bjørn Magnus Kopperud Oddvar Hesjedal berit svendsen Hilde Tonne 100 000 - - 40 000 55 000 55 000 40 000 - 20 000 - 2011 100 000 - - 40 000 - 55 000 40 000 - 20 000 - options 74.90 - - 74.90 - 74.90 74.90 - 74.90 - Average Restricted held as of held as of remaining 31 december 31 december lifetime 1.52 - - 1.52 - 1.52 1.52 - 1.52 - 2011 26 252 7 157 7 015 17 999 - 14 866 10 063 12 183 - 8 340 2011 162 600 8 296 8 110 62 824 47 786 38 746 18 972 12 295 21 211 Options and shares 2010 shares Available Average Average from the lTi shares Options exercise Options exercise programme (incl. restricted) held as of price on held as of price 1 January Exercised exercised 31 december outstanding Jon Fredrik baksaas Richard Olav Aa Kristin skogen lund sigve brekke Jan Edvard Thygesen Morten Karlsen sørby ingvald Fergestad Average Restricted held as of held as of remaining 31 december 31 december 2010 options options 2010 options lifetime 2010 2010 300 000 - - 40 000 105 000 55 000 - 200 000 - - - 50 000 - - 26.44 - - - 26.44 - - 100 000 - - 40 000 55 000 55 000 - 74.90 - - 74.90 74.90 74.90 - 2.52 - - 2.52 2.52 2.52 - 26 539 3 468 3 468 20 809 14 131 15 698 6 330 148 772 3 468 3 468 46 461 102 766 39 834 7 618 Loans to employees Total loans to employees were NOK 15 million as of 31 December 2011 and NOK 4 million as of 31 December 2010. The increase in 2011 was mainly related to loans to employees in DTAC due to the floods in Thailand. Fees to the auditors The table below summarises audit fees for 2011 and 2010 and fees for audit related services, tax services and other services incurred by the Group during 2011 and 2010. Fees include both Norwegian and foreign subsidiaries. Fees for further Audit fees assurance services Fees for tax services Other fees NOK in millions, excluding VAT 2011 2010 2011 2010 2011 2010 2011 2010 Telenor AsA Other Group companies Total Group auditor Other auditors in subsidiaries Total 4.9 25.3 30.3 0.3 30.6 4.9 27.4 32.3 0.3 32.6 0.2 2.6 2.8 0.1 2.9 0.3 3.8 4.1 0.1 4.2 2.7 1.5 4.2 - 4.2 1.1 4.6 5.7 - 5.7 4.2 3.8 8.0 - 8.0 0.1 2.3 2.4 2.4 Fees for audit services include fees associated with the required statutory and financial audits. Further assurance services principally include other attestation services required by laws and regulations, attestations related to information system, audits, attestations and agreed upon procedures required by regulators and other third parties. Fees for tax services include tax compliance and advice regarding tax rules and consequences, as well as tax due diligence services in connection with acquisitions, disposals and other transactions. Other fees relate to financial due diligence services and consultations in connection with acquisitions, disposals and other transactions. /page 83/ telenor annual report 2011 notes to the financial statements / telenor group / 37 / Number of shares, ownership etc. As of 31 December 2011, Telenor ASA had a share capital of NOK 9,649,161,678 divided into 1,608,193,613 ordinary shares with a nominal value of NOK 6 each. The share capital was decreased by NOK 298,171,398 and the number of registered shares was decreased by 49,695,233 during the year. All ordinary shares have equal voting rights and the right to receive dividends. As of 31 December 2011, the company owned 23,954,781 treasury shares, compared to 26,117,284 treasury shares as of 31 December 2010. The Annual General Meeting (AGM) in May 2010 authorised the Board of Directors to acquire up to 83,000,000 own shares, corresponding to approximately 5% of the share capital, to optimise the company’s capital structure or as means of payment in connection with acquisitions. Within this authorisation, which was valid until AGM in May 2011, Telenor repurchased 22,877,098 own shares. In April 2010 Telenor entered into an agreement with its largest sharehold...
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This document was uploaded on 03/21/2014.

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