Note 23 – Equity Share capital and shares outstanding Group 2015 2014 Issued capital at January 1 74,728,128 50,000,000 Change 185,474,367 24,728,128 Issued capital at December 31 260,202,495 74,728,128 At December 31, 2015, registered share capital amounted to 260,202,495 (74,728,128) common shares. The increase in the number of common shares during the year was due to a rights issue conducted in the second quarter of 2015. The quotient value of shares is SEK 1.00 (2.04). Holders of common shares are entitled to annual general dividends, the amount of which is set each financial year and shareholdings convey voting rights at the Annual General Meeting of one vote per share. All shares convey equal rights to the Company’s remaining net assets. Other capital contributions Pertains to capital contributions from shareholders. Includes share premium reserves transferred to the statutory reserve at December 31, 2005. Share premium reserve provisions are also reported as capital contributions as of January 1, 2006. Reserves Translation reserve The translation reserve comprises of exchange differences arising from translation of the financial statements of foreign operations that have prepared their financial statements in a currency other than the currency in which consolidated financial statements are presented. The Parent Company and Group present their financial statements in Swedish kronor (SEK). Hedging of net investments in foreign subsidiaries is also recognized in the translation reserve. This is comprised of exchange rate differences arising from the revaluation of liabilities recognized as hedging instruments of a net investment in a foreign operation. The amount is based on tax consequences. Group 2015 2014 Carrying amount at January 1 23 16 Exchange rate difference for the year -17 26 Hedging of net investments in foreign subsidiaries 15 -24 Tax attributable to hedging of net investment in foreign subsidiary -3 5 Carrying amount at end of period 18 23 Retained earnings including profit/loss for the year Retained earnings including profit for the year include earnings in the Parent Company and its subsidiaries. This equity item includes prior provisions to the statutory reserve, excluding transferred share premium reserves. Treasury shares 2015 2014 Group Number Amount Number Amount Balance at January 1 538,381 21 561,982 22 Divestments for the year – – -23,601 -1 Closing balance at end of period 538,381 21 538,381 21 Parent Company Restricted equity Restricted reserves Dividends that reduce restricted reserves are prohibited. Statutory reserve The purpose of the statutory reserve has been to save a portion of net profits not used to cover retained losses. The statutory reserve also includes the amount transferred to the share premium reserve prior to January 1, 2006. Non-restricted equity Retained earnings Comprises of prior years’ non-restricted equity after distribution of profits, if any. Combined with profit for the year, the total makes up non-restricted equity, which is the amount available for distribution to shareholders. Share premium reserve When shares are issued at a premium, that is, when more must be paid for the shares than their quotient value, an amount equal to the amount received in excess of the quotient value of the shares must be transferred to the share premium reserve. The amount transferred to the share premium reserve from January 1, 2006 is included in non-restricted equity.