Rapport annuel 2018

134 | Galenica Ltd. financial statements 2018 Finance Notes to the financial statements of Galenica Ltd. Notes to the financial statements of Galenica Ltd. Principles The financial statements of Galenica Ltd. with registered office in Bern, Switzerland have been prepared in accordance with Article 957 et seqq. of Title 32 of the Accounting law based on the Swiss Code of Obligations (CO). Where not prescribed by law, the significant accounting and valuation principles applied are described below. Financial assets Financial assets include non-current loans to Group companies of CHF 244.4 million (previous year: CHF 307.8 million). Investments The list of the Group companies is shown on page 126. Non-current interest-bearing liabilities The non-current interest-bearing liabilities are recognised at nominal value. in thousand CHF 2018 2017 Bond 0.5% (15 June 2017–15 June 2023) ISIN CH0367206692 200,000 200,000 Bond 1.0% (15 June 2017–15 December 2026) ISIN CH0367206700 180,000 180,000 Non-current interest-bearing liabilities 380,000 380,000 Share capital At 31 December 2018, the share capital of Galenica amounted to CHF 5,000,000, divided into 50,000,000 fully paid-up and publicly listed shares with nominal value of CHF 0.10 each. Authorised capital According to Article 3a) of the Articles of Association, the Board of Directors is authorised to increase the share capital of CHF 5,000,000 by a maximum of CHF 500,000 at any time up to and including 10 March 2019 by issuing not more than 5,000,000 fully paid shares. Reserves from capital contributions With the incorporation of Galenica Ltd. and in accordance with tax laws the amount of CHF 560.9 million was recorded as reserves from capital contributions in the opening balance. The reserves from capital contributions have been reduced to CHF 479.9 million due to the dividend paid out to the shareholders on 16 May 2018 in the amount of CHF 81.0 million. Subordinated loans At 31 December 2018, subordinated loans to Group companies amounted to CHF 220.0 million (previous year: CHF 232.4 million).