31. Related party disclosures
Subsidiaries Group ownership
of shares, %
Parent company
ownership of shares, %
CapMan Capital Management Oy, Finland 100% 100%
CapMan Sweden AB, Sweden 100% 100%
CapMan Holding AB, Sweden 100% 100%
CapMan AB, Sweden 100%
CapMan Norway AS, Norway 100% 100%
CapMan (Guernsey) Limited, Guernsey 100% 100%
CapMan Mezzanine (Guernsey) Limited, Guernsey 100% 100%
CapMan (Guernsey) Buyout VIII GP Limited, Guernsey 100% 100%
CapMan (Sweden) Buyout VIII GP AB, Sweden 100% 100%
CapMan Classic GP Oy, Finland 100% 100%
CapMan Real Estate Oy, Finland 100% 100%
Dividum Oy, Finland 100% 100%
CapMan RE I GP Oy, Finland 100% 100%
CapMan RE II GP Oy, Finland 100% 100%
CapMan (Guernsey) Life Science IV GP Limited, Guernsey 100% 100%
CapMan (Guernsey) Technology 2007 GP Limited, Guernsey 100% 100%
CapMan (Sweden) Technology Fund 2007 GP AB, Sweden 100% 100%
CapMan Hotels RE GP Oy, Finland 100% 100%
CapMan Public Market Manager S.A., Luxembourg 100% 100%
CapMan Private Equity Advisors Limited, Cyprus 100% 100%
CapMan (Guernsey) Russia GP Limited, Guernsey 100% 100%
CapMan (Guernsey) Investment Limited, Guernsey 100% 100%
CapMan Germany GmbH, Germany 100% 100%
CapMan (Guernsey) Buyout IX GP Limited, Guernsey 100% 100%
CapMan Fund Investments SICAV-SIF, Luxembourg 100% 100%
CapMan Mezzanine V Manager S.A., Luxembourg 100% 100%
CapMan PSH GP Oy, Finland 100% 100%
CapMan (Guernsey) Buyout X GP Limited, Guernsey 100% 100%
CapMan (Guernsey) Russia II GP Limited, Guernsey 100% 100%
Maneq 2012 AB, Sweden 100% 100%
CapMan Nordic Real Estate Manager S.A., Luxembourg 100% 100%
CapMan Nordic Real Estate Investment Sarl, Luxembourg 100% 100%
Associated companies Group ownership
of shares, %
Parent company
ownership of shares, %
BIF Management Ltd, Jersey 33.00% 33.00%
Baltic SME Management B.V., The Netherlands 33.00% 33.00%
Maneq 2002 AB, Sweden 35.00% 35.00%
Maneq 2004 AB, Sweden 42.00% 42.00%
Maneq 2005 AB, Sweden 34.00% 34.00%
Maneq 2006 AB, Sweden 34.00% 34.00%
Maneq 2007 AB, Sweden 37.00% 37.00%
Maneq 2008 AB, Sweden 34.00% 34.00%
Maneq 2009 AB, Sweden 34.00% 34.00%
Maneq 2010 AB, Sweden 32.00% 32.00%
Maneq 2011 AB, Sweden 36.00% 36.00%
Yewtree Holding AB, Sweden 35.00% 35.00%
Loan receivables from related parties, M€ Non-current loan receivable 2012 Non-current loan receivable 2011
Maneq 2005 AB 1.7 1.8
Maneq 2007 AB 5.7 5.6
Maneq 2008 AB 7.6 7.2
Maneq 2009 AB 1.9 1.7
Maneq 2010 AB 0.9 1.2
Maneq 2011 AB 0.9 1.2
Management remuneration
€ ('000) 2012 2011
Management Group excluding the CEO
Salaries and other short-term employee benefits 2,376 2,586
CEO 438 451
Members of the Board
Claes de Neergaard 52 38
Koen Dejonckheere * 0 0
Karri Kaitue 42 0
Nora Kerppola 54 38
Teuvo Salminen 61 56
Heikki Westerlund 55 54
Sari Baldauf, prior member of the Board 0 24
Conny Karlsson, prior member of the Board 14 100
Tapio Hintikka, prior member of the Board 0 24
* Mr. Dejonckheere has informed the company that he prefers not to accept board compensation.
The CEO has a 12 -month mutual notice period. No special severance fee has been agreed upon for the potential termination of the CEO's agreement with the company.
The CEO and Management Group members are covered by additional payment-based pension insurance. The retirement age is set at 60 years of age.
In 2012 the Management Group members were granted in total 400,000 stock options (2011; 1,025,000). The stock options granted to the Management Group are subject to the same terms as for stock options granted to employees.