4.3. Investments in subsidiaries and associates
4.3.1. Participating interests and associates
| As at 31 December 2016 (CZK’000) | Number of shares | Cost | Percentage ownership of share capital (%) | Share on share capital | 2016 profit / (loss)* | Equity* | Book value | Note |
|---|---|---|---|---|---|---|---|---|
| Direct Care s.r.o. Na Pankráci 1658/121, Praha 4 | – | 13,766 | 72 | 720 | 7,653 | 28,940 | 13,766 | 1. |
| Nadace GCP Na Pankráci 1658/121, Praha 4 | – | 500 | 50 | 500 | (713) | 1,000 | 500 | |
| Acredité s.r.o. Na Pankráci 1658, Praha 4 | – | 118 | 20 | 20 | 2,089 | 16,224 | 118 | 2. |
| Small GREF a.s. Na Pankráci 1720/123, Praha 4 | 42 | 423,508 | 42 | 42,000 | 4,375 | 1,050,875 | 423,508 | 3. |
| Total book value | 437,892 | 437,892 |
- Based on decision of Direct Care, s.r.o. general meeting held on 17 June 2016 a proposal of distribution of profit after tax for accounting period 2015 was approved. Based on this resolution the Company received on 26 July 2016 a dividend in the amount of CZK 41,910 thousand. The dividend income is stated in the Income statement under non-technical account in the item 3. Income from financial investments.
- On 23 August 2016 Reficor, s.r.o. company name was changed to Acredité s.r.o.
- On 7 March 2017, the Company acquired 42 shares of Small GREF a.s. and thus gained an interest of 42% on share capital. Acquired share was paid with non-monetary contribution in the form of Generali Real Estate Fund CEE a.s. with book value of CZK 423,508 thousand.
- In accordance with Generali Group strategy in the Czech Republic, on 20 September 2016 a contract was signed related to transfer of share in Generali Development, s.r.o. and the entire share was sold for CZK 40,445 thousand. Moreover, on 26 September 2016 Company’s share in Generali Services CEE a.s. (renamed to FINHAUS a.s. as at 19 April 2016) was sold for CZK 4,871 thousand. Ceska Pojistovna, a.s. was the buyer in both cases.
| As at 31 December 2015 (CZK’000) | Number of shares | Cost | Percentage ownership of share capital (%) | Share on share capital | 2016 profit / (loss)* | Equity* | Book value adjusted | Note |
|---|---|---|---|---|---|---|---|---|
| Reficor s.r.o. Na Pankráci 1658, Praha 4 | – | 118 | 20 | 20 | 3,299 | 13,740 | 118 | |
| Direct Care s.r.o. Na Pankráci 1658/121, Praha 4 | – | 13,766 | 72 | 720 | 6,325 | 71,794 | 13,766 | |
| Generali Development s.r.o. Bělehradská 132, Praha 2 | – | 36,712 | 100 | 200 | 5,781 | 44,067 | 36,712 | 4. |
| Nadace GCP Na Pankráci 1658/121, Praha 4 | – | 500 | 50 | 500 | (202) | 1,000 | 500 | |
| Generali Services CEE a.s Na Pankráci 1720/123, Praha 4 | 6 | 750 | 20 | 600 | 1,805 | 27,769 | 750 | 4. |
| Total book value | 51,846 | 51,846 |
* data was not audited as at the financial statements preparation date.
In any of above stated cases there were no differences between percentage of ownerhip and voting rights share.
The Company did not provide in 2016 nor 2015 any loans to its subsidiaries and associates.