Unilever 2014 Annual Report Download - page 91
Download and view the complete annual report
Please find page 91 of the 2014 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.24 PURHASE OF ESTATE SHARES ONVERTIBLE TO UNILEVER PL SHARES IN 2038
The frst Vscount Leverhulme was the founder of the company whch became Unlever PL When he ded n 1925, he left n hs wll
a large number of PL shares n varous trusts When the wll trusts were vared n 1983, the nterests of the benefcares of hs wll
were also preserved Four classes of specal shares were created n Margarne Unon (1930) Lmted, a subsdary of PL
One of these classes of shares (‘Estate shares’) has rghts that enable t to be converted at the end of the year 2038 to 70,875,000
Unlever PL ordnary shares Before ths date, these shares have no rghts to dvdends nor do they allow early converson There
are 20,000 Estate shares wth a nomnal value of £001 each
On 19 May 2014, Unlever PL purchased all of the Estate shares for a cash consderaton of £715 mllon plus transacton costs The
resultng loss of 880 mllon, beng the dfference between the nomnal value and the amount pad, has been recorded n retaned
earnngs Unlever ntends to cancel these shares
25 REMUNERATION OF AUDITORS
Ths note ncludes all amounts pad to the roup’s audtors, whether n relaton to ther audt of the roup orotherwise.
Following a competitive tender process KPMG LLP and KPMG Accountants N.V. (together referred to as “KPMG”) were appointed as the
Group’s auditor for the year ended 31 December 2014 at the Annual General Meetings on 14 May 2014. PricewaterhouseCoopers LLP
and PricewaterhouseCoopers Accountants N.V. (together referred to as “PricewaterhouseCoopers”) served as Group auditor for the
years ended 31 December 2013 and 2012. Remuneration of the Group’s auditor in respect of 2014 was payable to KPMG while in respect
of 2013 and 2012 remuneration was payable to PricewaterhouseCoopers.
During the year the Group (including its subsidiaries) obtained the following services from the Group auditor and its associates:
mllon
2014
€ million
2013
€ million
2012
Fees payable to the Group’s auditor for the audit of the consolidated and parent
company accounts of Unilever N.V. and Unilever PLC(a) 5 6 7
Fees payable to the Group’s auditor for the audit of accounts of subsidiaries of
Unilever N.V. and Unilever PLC pursuant to legislation(b) 9 10 11
Total statutory audit fees(c) 14 16 18
Audit-related assurance services –(d) 3 2
Other taxation advisory services –(d) 1 1
Services relating to corporate finance transactions –– –
Other assurance services –(d) – –
All other non-audit services –(d) 1 –
(a) Of which:
€1 million was payable to KPMG Accountants N.V. (PricewaterhouseCoopers Accountants N.V. 2013: €1 million; and 2012: €1 million) and €4 million was
payable to KPMG LLP (PricewaterhouseCoopers LLP 2013 €5 million; 2012: €6 million).
(b) Comprises fees payable to the KPMG network of independent member firms affiliated with KPMG International Cooperative for audit work on statutory
financial statements and Group reporting returns of subsidiary companies in 2014 (2013 and 2012: PricewaterhouseCoopers International Limited).
(c) Amount payable to KPMG in respect of services supplied to associated pension schemes was less than €1 million individually and in aggregate
(PricewaterhouseCoopers 2013: €1 million; and 2012: €1 million).
(d) Amounts paid in relation to each type of service are less than €1 million individually and in aggregate.
26 EVENTS AFTER THE BALANE SHEET DATE
Where events occurring after the balance sheet date provide evidence of conditions that existed at the end of the reporting period,
the impact of these events is adjusted within the financial statements. Otherwise, events after the balance sheet date of a material
size or nature are disclosed below.
On 20 January 2015 Unilever announced a quarterly dividend with the 2014 fourth quarter results of €0.2850 per NV ordinary share and
£0.2177 per PLC ordinary share.
On 3 February 2015 Unilever issued a €750 million 0.50% fixed rate bond which will mature in seven years.
128 Unilever Annual Report and Accounts 2014Financial statements
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNILEVER GROUP CONTINUED