{"id":2537,"date":"2021-05-21T07:56:57","date_gmt":"2021-05-21T05:56:57","guid":{"rendered":"https:\/\/norfund.wpenginepowered.com\/annualreport-2020\/?page_id=2537"},"modified":"2021-05-24T20:52:02","modified_gmt":"2021-05-24T18:52:02","slug":"note-12","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2020\/accounts-and-notes\/notes\/note-12\/","title":{"rendered":"Note 12 – Capital Movements"},"content":{"rendered":"
\n\t\t\t\t\n\t\t\t\t\t

Note 12<\/h4>\n\t\t\t\t\t

Capital Movements<\/h3>\n\t\t\t\t<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/a>
  1. Accounting principles<\/a><\/li>\n
  2. Segment Information<\/a><\/li>\n
  3. Loans and Investments<\/a><\/li>\n
  4. Exited Investments<\/a><\/li>\n
  5. Payroll Expenses<\/a><\/li>\n
  6. Other Operating Expenses<\/a><\/li>\n
  7. Net financial income\/expense<\/a><\/li>\n
  8. Fixed Assets<\/a><\/li>\n
  9. Other Receivables<\/a><\/li>\n
  10. Tax<\/a><\/li>\n
  11. Bank Deposits, Cash and Cash Equivalents<\/a><\/li>\n
  12. Capital Movements<\/a><\/li>\n
  13. Unused Resources<\/a><\/li>\n
  14. Information on financial market risk and the use of financial instruments<\/a><\/li>\n
  15. Current liabilities and guarantees<\/a><\/li>\n
  16. Events after balance-sheet date<\/a><\/li>\n<\/ol><\/div><\/div><\/div><\/div>\n\n
    Company<\/th><\/tr>
    (Figures in 1000s of NOK.)<\/th>Primary Capital<\/th>Capital in Reserves<\/th>Surplus Fund<\/th>Total Equity<\/th><\/tr><\/thead>
    Capital at 31.12. 2019<\/td>13 209 125<\/td>4 578 375<\/td>5 221 324<\/td>23 008 824<\/td><\/tr>
    Capital supplied in 2020<\/td>1 365 000<\/td>455 000<\/td>0<\/td>1 820 000<\/td><\/tr>
    Other changes<\/td><\/td>-7 449<\/td>0<\/td>-7 449<\/td><\/tr>
    Actuarial gains\/losses, pensions<\/td>0<\/td>0<\/td>-32 469<\/td>-32 469<\/td><\/tr>
    Net surplus\/deficit (-)<\/td>0<\/td>0<\/td>-128 161<\/td>-128 161<\/td><\/tr>
    Capital at 31.12.2020<\/td>14 574 125<\/td>5 025 926<\/td>5 060 694<\/td>24 660 745<\/td><\/tr><\/tbody><\/table><\/div><\/div>\n\n\n

    Capital in legal reserves can only be used to meet losses that cannot be covered from other reserves apart from primary capital. Of the capital received in 2020, 75% was allocated to primary capital and 25% to legal reserves.<\/p>\n\n\n\n

    Other changes<\/h2>\n\n\n\n

    Norfund administered a loan scheme for providing loans to small Norwegian companies wanting to invest in LDCs.<\/p>\n\n\n\n

    This was only used to a limited extent. A total of NOK 30 million was granted in this scheme, of which NOK 14 million was allocated to legal reserves (loan loss provision). In Proposition 117 S to the Storting it was decided that the residual of the loan loss provision of NOK 7.4 million should be re-allocated to the project development and risk mitigation facility; see also Note 13<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Capital in legal reserves can only be used to meet losses that cannot be covered from other reserves apart from primary capital. Of the capital received in 2020, 75% was allocated to primary capital and 25% to legal reserves. Other changes Norfund administered a loan scheme for providing loans to small Norwegian companies wanting to […]<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":2101,"menu_order":11,"comment_status":"closed","ping_status":"closed","template":"","meta":{"norfund_header_layout":"","norfund_header_layout_image_id":0,"norfund_header_layout_image_focal_point_x":0,"norfund_header_layout_image_focal_point_y":0,"norfund_header_layout_suptitle":"","norfund_header_layout_subtitle":"","norfund_header_layout_title":"Notes","teft_cards_image_id":0,"teft_cards_image_focal_point_x":0,"teft_cards_image_focal_point_y":0,"teft_cards_title":"","teft_cards_excerpt":""},"acf":[],"yoast_head":"\nNote 12 - Capital Movements | Annual report 2020<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reports.norfund.no\/annualreport-2020\/accounts-and-notes\/notes\/note-12\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Note 12 - Capital Movements | Annual report 2020\" \/>\n<meta property=\"og:description\" content=\"Capital in legal reserves can only be used to meet losses that cannot be covered from other reserves apart from primary capital. 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