Consolidated Financial Statements and Consolidated Management ...

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ANNUAL CORPORATE GOVERNANCE REPORT LISTED PUBLIC LIMITED COMPANIES IDENTIFICATION DETAILS OF THE ISSUER YEAR-END DATE: 31/12/2011 TAX ID CODE (CIF): A28027944 Trade name: NH HOTELES, S.A. ANNUAL CORPORATE GOVERNANCE REPORT FOR LISTED PUBLIC LIMITED COMPANIES To understand and complete this form correctly, please read the instructions provided at the end. A. STRUCTURE OF THE COMPANY A.1. Complete the following table regarding the capital structure of the company: Date of last modification Share Capital (Euros) Number of shares Number of voting rights 23/07/2009 493,234,860.00 246,617,430 246,617,430 Indicate whether there are different classes of shares with different rights: A.2. List the direct and indirect significant shareholders in your company at the end of the year, excluding directors: NO Name or trade name of director Number of direct voting rights Number of indirect voting rights (*) % of total voting rights MR JOSÉ ANTONIO CASTRO SOUSA 1,000 62,345,188 25.281 BANCO FINANCIERO Y DE AHORROS, S.A. 0 38,833,834 15.747 CAJA DE AHORROS Y MONTE DE PIEDAD DE GIPUZKOA Y SAN SEBASTIÁN 0 15,413,673 6.250 CK CORPORACIÓN KUTXA-KUTXA KORPORAZIOA, S.L. 15,413,673 0 6.250 BANCAJA INVERSIONES, S.A. 13,955,675 0 5.659 INTESA SANPAOLO, S.P.A. 5,791,685 8,148,802 5.653 MR AMANCIO ORTEGA GAONA 0 12,512,971 5.074 PONTEGADEA INVERSIONES, S.L. 12,512,971 0 5.074 CAJA DE AHORROS Y MONTE DE PIEDAD DE ZARAGOZA, ARAGÓN Y RIOJA (IBERCAJA) 12,432,716 0 5.041 CORPORACIÓN FINANCIERA CAJA DE MADRID, S.A. 11,206,208 0 4.544 Name or trade name of indirect shareholder Via: Name or trade name of direct shareholder Number of direct voting rights % of total voting rights MR JOSÉ ANTONIO CASTRO SOUSA EUROFONDO, S.A. 474,804 0.193 MR JOSÉ ANTONIO CASTRO SOUSA GRUPO INVERSOR HESPERIA, S.A. 61,870,383 25.088 BANCO FINANCIERO Y DE AHORROS, S.A. BANCAJA INVERSIONES, S.A. 13,956,080 5.659 BANCO FINANCIERO Y DE AHORROS, S.A. CORPORACIÓN FINANCIERA CAJA DE MADRID, S.A. 11,206,208 4.544 BANCO FINANCIERO Y DE AHORROS, S.A. SOCIEDAD DE PROMOCIÓN Y PARTICIPACIÓN EMPRESARIAL CAJA MADRID 13,560,496 5.499 CAJA DE AHORROS Y MONTE DE PIEDAD DE GIPUZKOA Y SAN SEBASTIÁN CK CORPORACIÓN KUTXA-KUTXA KORPORAZIOA, S.L. 15,413,673 6.250 INTESA SANPAOLO, S.P.A. PRIVATE EQUITY INTERNATIONAL 8,148,802 3.304 MR AMANCIO ORTEGA GAONA PONTEGADEA INVERSIONES, S.L. 12,512,971 5.074 Indicate the most significant movements in the shareholding structure of the company during the year: Name or trade name of director Date of transaction Description of transaction BANCO FINANCIERO Y DE AHORROS, S.A. 23/05/2011 Exceded 15% of share capital 16 ANNUAL CORPORATE GOVERNANCE REPORT
A.3. Complete the following tables with information on the members of the company’s Board of Directors that hold voting rights on shares in the company: Name or trade name of director Number of direct voting rights Number of indirect voting rights (*) % of total voting rights MR MARIANO PÉREZ CLAVER 50,250 0 0.020 GRUPO INVERSOR HESPERIA, S.A. 61,870,383 0 25.088 MR CARLOS GONZÁLEZ FERNÁNDEZ 25,050 0 0.010 MR FRANCISCO JAVIER ILLA RUIZ 1 0 0.000 HOTELES PARTICIPADOS, S.L. 13,385,269 0 5.428 MR IÑAKI ARRATÍBEL OLAZIREGI 100 0 0.000 MR JUAN LLOPART PÉREZ 160 90,000 0.037 MR MIGUEL RODRÍGUEZ DOMÍNGUEZ 3,000 0 0.001 MS NURIA ITURRIAGAGOITIA RIPOLL 1,353 0 0.001 MR ROBERTO CIBEIRA MOREIRAS 600 0 0.000 MS ROSALBA CASIRAGHI 1 0 0.000 SOCIEDAD DE PROMOCIÓN Y PARTICIPACIÓN EMPRESARIAL CAJA MADRID 13,560,496 0 5.499 Name or trade name of the indirect shareholder Via: Name or trade name of direct shareholder Number of direct voting rights % of total voting rights MR JUAN LLOPART PÉREZ LLOPART EUROCONSEJO, S.L. 90,000 0.036 % of total voting rights held by the Board of Directors 36.083 Complete the following table with information on the members of the company’s Board of Directors that hold rights on shares in the company: A.4. Indicate, as appropriate, the family, commercial, contractual or corporate relationships existing between major shareholders, in so far as they are known by the company, unless they have little relevance or are derived from ordinary commercial business of the company: A.5. Indicate, as appropriate, the commercial, contractual or corporate relationships existing between major shareholders, and the company and/or its group, unless they have little relevance or are derived from the ordinary commercial business of the company: A.6. Indicate if the company has been notified of any shareholder agreements that affect it according to Article 112 of the Securities Market Act (LMV). If appropriate, describe them briefly and list the shareholders bound by the agreement: % share capital affected: 20.74 YES Short description of the agreement: Creation of a shareholders’ syndicate that shall comprise all the company shares held by said shareholders while the Shareholders’ Agreement exists, with the exception of those shares acquired as a result of the provision of financial services to clients or from treasury and trading activities. Through this syndicate, all shareholder members are required to exercise the voting rights derived from their syndicated shares as a single unit. Furthermore, all syndicated shares shall vote at General Meetings as a single unit and in the way decided by the majorities specified in the Shareholders’ Agreement. Participants in the shareholder agreement BANCAJA INVERSIONES, S.A SOCIEDAD DE PROMOCIÓN Y PARTICIPACIÓN EMPRESARIAL CAJA MADRID CORPORACIÓN FINANCIERA CAJA DE MADRID, S.A. CAJA DE AHORROS Y MONTE DE PIEDAD DE ZARAGOZA, ARAGÓN Y RIOJA (IBERCAJA) % share capital affected: 11.570 ANNUAL CORPORATE GOVERNANCE REPORT 17
Page 1 and 2: Lamps which create a special atmosp
Page 3 and 4: ANNUAL REPORT 2011 CONSOLIDATED FIN
Page 5 and 6: 10. INVESTMENTS VALUED USING THE EQ
Page 7 and 8: INDEPENDENT AUDITORS’ REPORT ON C
Page 9 and 10: End customers, who are even more de
Page 11 and 12: Revenue from Real Estate Activity,
Page 13 and 14: The level of consolidated net finan
Page 15: SUBSEQUENT DISCLOSURES The process
Page 19 and 20: B. STRUCTURE OF THE COMPANY’S COR
Page 21 and 22: B.1.7. Identify, as applicable, the
Page 23 and 24: Process for determining the remuner
Page 25 and 26: For the purposes of this definition
Page 27 and 28: State and explain, as applicable, w
Page 29 and 30: Does the Appointments Committee not
Page 31 and 32: Explain the rules Article 14.2.e) o
Page 33 and 34: Committee name AUDIT COMMITTEE Shor
Page 35 and 36: C. RELATED-PARTY TRANSACTIONS C.1.
Page 37 and 38: D. RISK CONTROL SYSTEMS D.1. Genera
Page 39 and 40: The Audit Department therefore cont
Page 41 and 42: In any event, the website shall con
Page 43 and 44: E.10. State and explain the policie
Page 45 and 46: ) The following decisions: i) The a
Page 47 and 48: 23. All directors must be able to e
Page 49 and 50: 41. The Annual Report shall include
Page 51 and 52: 53. The Board of Directors shall se
Page 53 and 54: Mr Roberto Cibeira Moreiras - Annua
Page 55 and 56: APENDIX TO THE 2011 ANNUAL CORPORAT
Page 57 and 58: - to keep records of transactions r
Page 59 and 60: - Supervision of internal control a
Page 61 and 62: *Translation of consolidated financ
Page 63 and 64: CONSOLIDATED STATEMENTS OF CHANGES
Page 65 and 66: REPORT ON THE CONSOLIDATED FINANCIA
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2.1.2. Standards and interpretation
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2.5.2. Associate companies (See Ann
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4. VALUATION STANDARDS The main pri
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- Outstanding loans and accounts re
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Deferred tax liabilities for all ta
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A breakdown of the cash generating
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• The most significant addition i
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NH Hoteles Group’s policy on inte
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The analysis of the aging of financ
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15.5. Treasury shares At year-end,
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Additionally, two loans for a joint
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The details of the sensitivity anal
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Onerous agreements The NH Hoteles G
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Additionally, NH Hoteles España, S
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Negative tax bases At 31 December 2
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- Article 9 of the Articles of Asso
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26.3. Personnel expenses The compos
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26.6. Financial expenses and change
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Secondary segments - Geographic The
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Holder Investee Company Activity Nu
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31. INFORMATION ON ENVIRONMENTAL PO
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ANNEX I: SUBSIDIARIES The data on t
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Investee Company Registered address
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REPORT ON THE CONSOLIDATED FINANCIA
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9) To supervise compliance and inte
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ANNUAL REPORT OF THE AUDIT COMMITTE
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