Nokia 2014 Annual Report Download - page 203

201NOKIA IN 2014
Financial statements
25. Principal Group companies
The Group’s signicant subsidiaries at December 31, 2014:
Company name
Country of incorporation
and place of business Primary nature of business
Parent
holding
%
Group ownership
interest
%
Nokia Solutions and Networks B.V. The Hague, Netherlands Holding company –100.0
Nokia Solutions and Networks Oy Helsinki, Finland Sales and manufacturing company –100.0
Nokia Solutions and Networks US LLC Delaware, USA Sales company –100.0
Nokia Solutions and Networks Japan Corp. Tokyo, Japan Sales company –100.0
Nokia Solutions and Networks India Private Limited New Delhi, India Sales and manufacturing company –100.0
Nokia Solutions and Networks System Technology
(Beijing) Co., Ltd. Beijing, China Sales company –100.0
Nokia Solutions and Networks Branch Operations Oy Helsinki, Finland Sales company –100.0
Nokia Solutions and Networks Korea Ltd. Seoul, South Korea Sales company –100.0
Nokia Solutions and Networks do Brasil
Telecomunicações Ltda. Sao Paolo, Brazil Sales company –100.0
Nokia Solutions and Networks Technology Service
Co., Ltd. Beijing, China Sales company –100.0
HERE Holding Corporation Delaware, USA Holding company –100.0
HERE Global B.V Veldhoven, Netherlands Holding company 1.82 100.0
HERE Europe B.V. Veldhoven, Netherlands Sales and holding company –100.0
HERE North America LLC Delaware, USA Sales and development company –100.0
HERE Deutschland GmbH Berlin, Germany Development company –100.0
Nokia Finance International B.V. Haarlem, Netherlands Holding and nance company 100.0 100.0
Nokia Technologies Oy(1) Helsinki, Finland Sales and development company 100.0 100.0
(1) The company was incorporated on November 26, 2014.
Full list of Group companies is included in the Financial statements led with the Registrar of Companies.
26. Shares of the Parent Company
Shares and shareholders
Shares and share capital
Nokia Corporation (“Parent Company”) has one class of shares. Each share entitles the holder to one vote at General Meetings. At December 31,
2014 the share capital of Nokia Corporation is EUR 245 896 461.96 and the total number of shares issued is 3 745 044 246. At December 31,
2014 the total number of shares includes 96 900 800 shares owned by Group companies representing 2.6% of share capital and total voting
rights. Under the Nokia Articles of Association, Nokia Corporation does not have minimum or maximum share capital or share par value.
Authorizations
Authorization to issue shares and special rights entitling to shares
At the Annual General Meeting held on May 7, 2013 the shareholders authorized the Board of Directors to issue a maximum of 740 million
shares through one or more issues of shares or special rights entitling to shares. The Board of Directors may issue either new shares or shares
held by the Parent Company. The authorization includes the right for the Board of Directors to decide on all the terms and conditions of such
share and special rights issuances, including to whom the shares and special rights may be issued. The authorization may be used to develop
the Parent Company’s capital structure, diversify the shareholder base, nance or carry out acquisitions or other arrangements, settle the
Parent Company’s equity-based incentive plans, or for other purposes resolved by the Board of Directors. The authorization that would have
been eective until June 30, 2016 was terminated by the resolution of the Annual General Meeting on June 17, 2014.
At the Annual General Meeting held on June 17, 2014 the shareholders authorized the Board of Directors to issue a maximum of 740 million
shares through one or more issues of shares or special rights entitling to shares, including stock options. The Board of Directors may issue
either new shares or shares held by the Parent Company. The authorization includes the right for the Board of Directors to resolve on all the
terms and conditions of such share and special rights issuances, including issuance in deviation from the shareholders’ pre-emptive rights. The
authorization may be used to develop the Parent Company’s capital structure, diversify the shareholder base, nance or carry out acquisitions
or other arrangements, settle the Parent Company’s equity-based incentive plans, or for other purposes resolved by the Board of Directors.
The authorization is eective until December 17, 2015.
In 2014, Nokia Corporation issued 49 904 new shares following the holders of stock options issued in 2011 exercising their options.