20. Share capital and other equity funds
M € | Number of shares (1.000) | Share capital | Share premium reserve | Fair value reserve | Invested non-restricted equity reserve | Total |
1 Jan 2015 | 7,403 | 58.0 | 35.8 | -35.0 | 17.9 | 76.7 |
Change in other comprehensive income | | | | 2.4 | | 2.4 |
31 Dec 2015 | 7,403 | 58.0 | 35.8 | -32.6 | 17.9 | 79.1 |
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M € | Number of shares (1.000) | Share capital | Share premium reserve | Fair value reserve | Invested non-restricted equity reserve | Total |
1 Jan 2014 | 7,403 | 58.0 | 35.8 | -19.9 | 17.9 | 91.8 |
Change in other comprehensive income | | | | -15.1 | | -15.1 |
31 Dec 2014 | 7,403 | 58.0 | 35.8 | -35.0 | 17.9 | 76.7 |
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VVO Group plc has one type of share. The share has no nominal value. All issued shares have been paid for in full.
Description of equity funds:
Shares
- The number of VVO Group plc shares issued as at 31 December 2015 was 7,402,560.
Share premium
- VVO Group plc has no such instruments in force that would accrue a share premium under the new Limited Liability Companies Act. The share premium was generated under the previous Limited Liability Companies Act.
Fair value reserve
- The fair value reserve contains the changes in fair values of the derivatives used to hedge cash flow and the current assets held for sale.
Invested non-restricted equity reserve
- The invested non-restricted equity reserve contains equity investments and that part of the share subscription price that has not specifically been allocated to share capital.
Dividends
- A dividend of EUR 3.00 per share was paid in 2014. After the balance sheet date, 31 December 2015, the Board of Directors has proposed that a dividend of EUR 5.00.
Non-controlling interest
The non-controlling interest consists mainly of the result of Kiinteistö Oy Kotkankynnys.
Restrictions related to the Group’s equity
- VVO Group’s retained earnings for 2015, EUR 1,659.4 million (EUR 1,502.3 million in 2014) include a total of EUR 531.2 million (EUR 431.3 million in 2014) of equity subject to profit distri-bution restrictions relating to non-profit operations. Equity subject to profit distribution restrictions includes the measurement of investment property at fair value.
- Some of the Group companies are subject to revenue recognition restrictions under the non-profit provisions of housing legislation, according to which an entity cannot pay its owner more than the profit regulated by housing legislation.