natgillin/translations-raw huggingface dataset:
The issue price will be calculated on the basis of the value of HSH as of the day of the resolution of the general meeting of shareholders on such capital increase and the value of the lump-sum payment claim.
Cena ob izdaji se izračuna na podlagi vrednosti banke HSH od dne sklepa skupščine delničarjev o takem povečanju kapitala in neto vrednosti zahtevka za pavšalno plačilo.
The capital increase will take place either through ordinary contribution in kind, with no right of option for minority shareholders, or through a mixed capital increase by way of contribution in kind and cash, with a right of option regarding the cash portion for all shareholders other than HSH Finanzfonds AöR regarding the cash portion.
Povečanje kapitala se izvede preko navadnega stvarnega vložka, brez pravice do izbire za manjšinske delničarje, ali preko povečanja kapitala s stvarnim vložkom in v denarju, pri čemer imajo glede dela v denarju pravico do izbire vsi delničarji razen javnopravne ustanove HSH Finanzfonds AöR.
HSH and HSH Finanzfonds AöR will make every reasonable effort to bring about the coming into effect of the capital increase within 18 months following the resolution of the general meeting of shareholders.
Banka HSH in javnopravna ustanova HSH Finanzfonds AöR si bosta kar najbolj prizadevali, da povečanje kapitala začne veljati v 18 mesecih po soglasju skupščine delničarjev.
HSH Finanzfonds AöR and HSH may choose the form of the capital increase which will guarantee speedier implementation and entry in the commercial register.
Javnopravna ustanova HSH Finanzfonds AöR in banka HSH lahko sami izbereta obliko povečanja kapitala, ki bo zagotovila hitrejše izvajanje in vnos v trgovinski register.
The claim to the lump-sum payment may not be converted into a debtor warrant if the minimum common equity ratio of 10 % is not met.
Zahtevek za pavšalno plačilo ne sme biti pretvorjen v nalog za plačilo dolgov, če delež navadnega lastniškega kapitala ne znaša vsaj 10 %.
If there is a sale of shares by the public-sector owners, the amount of the additional premium can be reduced at their initiative in proportion to their direct and indirect share.
Če lastnika v javnem sektorju prodata delnice, se lahko znesek dodatne premije na njuno pobudo zmanjša sorazmerno z njunim neposrednim in posrednim deležem.
[Dividend ban] HSH will not pay dividends in the period up to and including the financial year ending 31 December 2014.
[Prepoved izplačila dividend] Banka HSH v obdobju do vključno finančnega leta, ki se zaključi 31. decembra 2014, ne izplačuje dividend.
[Protection of reserves] In the period from 1 January 2015 until 31 December 2016, dividend payments may not exceed 50 % of the annual surplus for the previous financial year.
[Zaščita rezerv] V obdobju od 1. januarja 2015 do 31. decembra 2016 izplačila dividend ne smejo presegati 50 % letnega presežka iz prejšnjega finančnega leta.
Furthermore, dividend payments may be made during that period only in so far as they do not jeopardise compliance with the Basel III provisions on the capital of credit institutions in the medium-term.
Poleg tega so lahko izplačila dividend v tem obdobju dovoljena le, če ne ogrozijo skladnosti z določbami sporazuma Basel III o kapitalu kreditnih institucij v srednjeročnem obdobju.
TIME OF SALES OF HOLDINGS (DATE OF SIGNING OF SALES CONTRACT) IN ACCORDANCE WITH POINT 7.1 OF ANNEX I
PRODAJA DELEŽEV (DATUM PODPISA PRODAJNE POGODBE) V SKLADU Z ODSTAVKOM 7.1 PRILOGE I
The holdings marked with an asterisk ‘*’ in the Table below include outside financing by HSH (especially in the leasing and energy sectors) with terms that may extend beyond the intended date of sale of the holding in question (see point 7.3 of Annex I).
deleži, ki so v naslednji preglednici označeni z zvezdico „*“, obsegajo zunanje financiranje s strani banke HSH (zlasti v sektorjih za lizing in energijo) z roki, ki lahko presegajo načrtovani datum prodaje zadevnega deleža (glej odstavek 7.3 Priloge I).
Date of sale
Datum prodaje
sold
prodano
wound up
ukinjeno
liquidated
likvidirano
Sold
prodano
On 30 April 2009 Germany notified the Commission of state aid measures for HSH Nordbank AG (hereinafter ‘HSH’) in the form of a guarantee comprising a EUR 10 billion second-loss tranche (hereinafter ‘the risk shield’) and a EUR 3 billion capital injection (hereinafter ‘the recapitalisation’).
Nemčija je 30. aprila 2009 Komisiji priglasila ukrepe državne pomoči za banko HSH Nordbank AG (v nadaljnjem besedilu: banka HSH) v obliki jamstva, ki je obsegalo tranšo druge izgube (v nadaljnjem besedilu: zaščita pred tveganjem) v višini 10 milijard EUR in kapitalsko injekcijo v višini 3 milijarde EUR (v nadaljnjem besedilu: dokapitalizacija).
The measures had been provided indirectly by the public-sector owners of HSH, namely the Free and Hanseatic City of Hamburg and the Land of Schleswig-Holstein (hereinafter referred to separately as ‘Hamburg’ and ‘Schleswig-Holstein’ respectively, or together as ‘the public-sector owners’).
Ukrepe sta posredno zagotovila lastnika banke HSH v javnem sektorju, namreč Svobodno hanzeatsko mesto Hamburg in zvezna dežela Schleswig-Holstein (v nadaljnjem besedilu vsak posebej: mesto Hamburg oziroma zvezna dežela Schleswig-Holstein ali skupaj: lastnika v javnem sektorju).
The Commission received their comments on 17 December 2009.
Komisija je njihove pripombe prejela 17. decembra 2009.
On 1 December 2009 Germany requested an extension of the deadline to submit comments, which was granted by the Commission on 7 December 2009.
Nemčija je 1. decembra 2009 zaprosila za podaljšanje roka za predložitev pripomb, kar je Komisija odobrila 7. decembra 2009.
On 7 December 2009, HSH also requested an extension of the deadline to submit comments, which was granted by the Commission on 17 December 2009.
Banka HSH je prav tako zaprosila za podaljšanje roka za predložitev pripomb, in sicer 7. decembra 2009, Komisija pa je podaljšanje odobrila 17. decembra 2009.
On 17 December 2009, Germany forwarded joint comments from the public-sector owners and HSH on the Decision initiating the procedure.
Nemčija je 17. decembra 2009 predložila skupne pripombe lastnikov v javnem sektorju in banke HSH na sklep o začetku postopka.
As regards the risk shield, and in particular the valuation of the portfolio of assets whose risk was covered by the risk shield (‘the shielded portfolio’), several meetings, teleconferences and other information exchanges between the German authorities and the Commission took place between September 2009 and February 2010.
Med septembrom 2009 in februarjem 2010 so glede zaščite pred tveganjem in zlasti vrednotenja portfelja sredstev, katerih tveganje je zajemala zaščita pred tveganjem (v nadaljnjem besedilu: zaščiteni portfelj), med nemškimi organi in Komisijo potekala številna srečanja, telefonske konference in druge izmenjave podatkov.
The German authorities submitted additional information, inter alia, on 6, 20, 21, 22, 23 and 29 October, 11, 12, 16 and 27 November and 17 December 2009, 26 and 27 January and 19 February 2010.
Nemški organi so predložili dodatne informacije, med drugim 6., 20., 21., 22., 23. in 29. oktobra, 11., 12., 16. in 27. novembra, 17. decembra 2009, 26. in 27. januarja ter 19. februarja 2010.
The restructuring plan, risk shield and recapitalisation, and the valuation of the shielded portfolio were discussed by the German authorities and the Commission departments in a series of meetings, teleconferences and other information exchanges in the period between October 2009 and June 2011, including on 5, 21 and 27 October, 4, 12, 13, 18, 27 and 30 November, 7, 9, 14 and 15 December 2009, 14 and 19 January, 21 April, 5, 12, 20, 26, 28 and 31 May, 15 June, 13, 16, 22 and 23 July, 30 September, 22 November, 9 and 22 December 2010, 23 and 28 February, 18 March, 1 and 8 April, 25 May and 7, 16 and 29 June 2011.
Službe Komisije in nemški organi so o načrtu prestrukturiranja, zaščiti pred tveganjem, dokapitalizaciji in vrednotenju zaščitenega portfelja razpravljali na številnih srečanjih, telefonskih konferencah in drugih izmenjavah podatkov v obdobju med oktobrom 2009 in junijem 2011, med drugim 5., 21. in 27. oktobra, 4., 12., 13., 18., 27. in 30. novembra, 7., 9., 14. in 15. decembra 2009, 14. in 19. januarja, 21. aprila, 5., 12., 20., 26., 28. in 31. maja, 15. junija, 13., 16., 22. in 23. julija, 30. septembra, 22. novembra, 9. in 22. decembra 2010, 23. in 28. februarja, 18. marca, 1. in 8. aprila, 25. maja ter 7., 16. in 29. junija 2011.
The final version of the restructuring plan was submitted on 11 July 2011.
Končna različica načrta prestrukturiranja je bila predložena 11. julija 2011.
The second trend started in May 2009, when S&P downgraded HSH’s credit rating to BBB+, followed by Moody’s and Fitch downgrading HSH to A3/A- in May and July 2010.
Drugi trend se je začel maja 2009, ko je bonitetna agencija S&P bonitetno oceno banke HSH znižala na BBB+, maja in julija 2010 pa sta ji oceno znižali še bonitetni agenciji Moody’s in Fitch, in sicer na A3/A–.
As justification for the downgrading the rating agencies pointed to the limit on further support by the public-sector owners due to (a) the EU state aid rules and (b) their budgetary restrictions.
Kot razlog za to znižanje so agencije navedle omejitev nadaljnje podpore s strani lastnikov v javnem sektorju zaradi (a) pravil EU o državni pomoči in (b) njunih proračunskih omejitev.
In May and June 2009 HSH obtained aid of two kinds from Schleswig-Holstein and Hamburg: the EUR 3 billion recapitalisation and a EUR 10 billion second-loss guarantee measure (the ‘risk shield’).
Banka HSH je maja in junija 2009 od zvezne države Schleswig-Holstein in mesta Hamburg pridobila dve vrsti pomoči: dokapitalizacijo v višini 3 milijarde EUR in ukrep jamstva na drugo izgubo v višini 10 milijard EUR (zaščita pred tveganjem).
In addition HSH received aid from SoFFin in the form of liquidity guarantees which in the end amounted to EUR 17 billion (hereinafter ‘liquidity guarantees’).
Poleg tega je banka HSH prejela pomoč od sklada SoFFin v obliki likvidnostnih jamstev, ki so na koncu skupaj znašala 17 milijard EUR (v nadaljnjem besedilu: likvidnostna jamstva).
The valuation was established before the rating downgrade of HSH of 6 May 2009.
Vrednotenje je bilo izvedeno pred znižanjem bonitetne ocene banke HSH 6. maja 2009.
The impact of the downgrading on the value of HSH was not taken into account in the valuation, but was considered during the pricing discussion.
Učinek znižanja na vrednost banke HSH pri vrednotenju ni bil zajet, vendar pa je bil upoštevan pri razpravi glede cene.
Given that HSH’s business plan did not project sufficient profits for the period 2009-2012 to pay a 10 % dividend on all ordinary shares, the issue price of the new ordinary shares was reduced by a discounted 10 % dividend payment for the period 2009-2012.
Glede na to, da v poslovnem načrtu banke HSH za obdobje 2009–2012 ni bil načrtovan dobiček, ki bi zadoščal za izplačilo 10-odstotnih dividend na vse navadne delnice, so ceno novo izdanih navadnih delnic znižali za znižano 10-odstotno izplačilo dividend za obdobje 2009–2012.
The present value of the 10 % dividend payment for the period 2009-2012 amounts to EUR [650-800] million (EUR [3-6] per share).
Vrednost 10-odstotnega izplačila dividend za obdobje 2009–2012 zdaj tako znaša [650–800] milijonov EUR ([3–6] EUR za delnico).
The risk shield was put in place at the same time as the recapitalisation in June 2009.
Zaščita pred tveganjem je bila vzpostavljena hkrati z dokapitalizacijo junija 2009.
It was also provided directly by HSH Finanzfonds AöR.
Prav tako jo je neposredno zagotavljala javnopravna ustanova HSH Finanzfonds AöR.
The risk shield consists of a second-loss guarantee in the amount of EUR 10 billion, which shelters HSH from losses stemming from total assets of about EUR 172 billion (EUR 187 billion exposure at default) as of a cut-off date in March 2009.
Zaščita pred tveganjem obsega jamstvo na drugo izgubo v višini 10 milijard EUR in banko HSH ščiti pred izgubami, ki izhajajo iz skupnih sredstev v višini 172 milijard EUR (187 milijard EUR izpostavljenosti ob neplačilu) od izteka roka marca 2009.
The first-loss tranche of EUR 3,2 billion is to be covered by HSH.
Tranšo prve izgube v višini 3,2 milijarde EUR krije banka HSH.
HSH cancelled EUR 1 billion of the guarantee as of 9 March 2011.
Banka HSH je z 9. marcem 2011 razveljavila 1 milijardo EUR jamstva.
BaFin indicated that it would not object to the termination.
Navedel je, da razveljavitvi ne nasprotuje.
The guarantees were approved within the framework of the German rescue scheme [25].
Jamstva so bila odobrena v okviru nemške sheme za reševanje [25].
The second tranche of EUR 20 billion was activated after submission of the restructuring plan by HSH to SoFFin on 7 March 2009.
Druga tranša v višini 20 milijard EUR je bila aktivirana 7. marca 2009, po tem, ko je banka HSH skladu SoFFin predložila načrt prestrukturiranja.
Additional information on the restructuring model contained in the initial restructuring plan was provided in subsequent submissions during the period from October 2009 to June 2011.
Dodatne informacije o modelu prestrukturiranja iz prvotnega načrta prestrukturiranja so bile predložene v nadaljnjih predložitvah med obdobjem od oktobra 2009 do junija 2011.
The modified version of the restructuring plan was submitted on 11 July 2011 (hereinafter ‘modified restructuring plan’).
Spremenjena različica načrta prestrukturiranja je bila predložena 11. julija 2011 (v nadaljnjem besedilu: spremenjeni načrt prestrukturiranja).
The net fee income and the trading result each represented [some 20 %] of the net income before restructuring costs of the core bank in 2014.
Čisti prihodek od opravnin (provizij) in poslovni izid sta vsak predstavljala [približno 20 %] čistega dobička pred stroški prestrukturiranja temeljne banke v letu 2014.
In the modified restructuring plan the projected net income before restructuring for 2014 was revised to EUR [350-450] million, with net fee income and trading result representing [10-15] %.
V spremenjenem načrtu prestrukturiranja je načrtovani čisti dobiček pred prestrukturiranjem za leto 2014 znašal [350–450] milijonov EUR, pri čemer sta čisti prihodek od opravnin in poslovni izid predstavljala [10–15 %].
The initial restructuring plan projected a total asset reduction for HSH from approximately EUR [175] billion in 2009 to approximately EUR [150] billion in 2014.
V prvotnem načrtu prestrukturiranja je bilo načrtovano zmanjšanje skupnih sredstev banke HSH s približno [175] milijard EUR v letu 2009 na približno [150] milijard EUR v letu 2014.
The initial restructuring plan projected an increase in the assets of the core bank from approximately EUR [100] billion in 2009 to approximately EUR [110] billion in 2014.
V prvotnem načrtu prestrukturiranja je bilo načrtovano povečanje sredstev temeljne banke s približno [100] milijard EUR v letu 2009 na približno [110] milijard EUR v letu 2014.
The 2014 projected total assets for HSH and for the core bank were revised to EUR 120 billion and EUR 82 billion respectively in the modified restructuring plan.
V spremenjenem načrtu prestrukturiranja so načrtovana skupna sredstva za banko HSH in temeljno banko znašala 120 milijard EUR oziroma 82 milijard EUR.
Growth rate of new business [90-130] % from 2010 IST - 2014 ([…] % CAGR)
Stopnja rasti novih poslov približno [90–130] % od leta 2010 IST do leta 2014 ([…] % CAGR)
The growth rate is based on an annual absolute volume of new business of EUR […] billion on average from 2011 to 2014.
Stopnja rasti temelji na povprečnem letnem absolutnem obsegu novih poslov v višini […] milijard EUR od leta 2011 do leta 2014.
The modified restructuring plan was submitted on 11 July 2011.
Spremenjeni načrt prestrukturiranja je bil predložen 11. julija 2011.
It comprises substantial changes to HSH’s business model.
Vsebuje precejšnje spremembe poslovnega modela banke HSH.
The branches or representations in Copenhagen, Paris, Amsterdam and Moscow are to be closed by 2012.
Podružnice oziroma predstavništva v Københavnu, Parizu, Amsterdamu in Moskvi bodo zaprte do leta 2012.
The balance sheet total of the core bank’s corporates business unit will be reduced from EUR 26,3 billion in 2008 to EUR [10-20] billion in 2014.
Bilančna vsota enote temeljne banke za poslovanje s podjetji se bo s 26,3 milijarde EUR v letu 2008 zmanjšala na [10–20] milijard EUR v letu 2014.
In total, the unit will be reduced by about [45-55] % during that period.
Skupno se bo enota v tem obdobju zmanjšala za približno [45–55] %.
The balance sheet of the core bank’s real estate business unit will be reduced from EUR 30,5 billion in 2008 to EUR [9-18] billion in 2014.
Bilanca stanja poslovne enote temeljne banke za nepremičninske posle se bo s 30,5 milijarde EUR v letu 2008 zmanjšala na [9–18] milijard EUR v letu 2014.
This amounts to a reduction of [50-70] %.
To pomeni zmanjšanje za [50–70] %.
According to the profit and loss projections the HSH group will suffer an additional loss of around EUR [100-200] million in 2011 and continuously increase its profits to around EUR [400-500] million after tax in 2014.
V skladu z napovedmi dobička in izgub bo skupina HSH v letu 2011 utrpela dodatno izgubo v višini približno [100–200] milijonov EUR in stalno povečevala svoj dobiček na približno [400–500] milijonov EUR po obdavčitvi v letu 2014.
The return on equity will be negative in 2011 and increase to around [7-8] % in 2014.
Kapitalski donos bo v letu 2011 negativen, v letu 2014 pa se bo povečal na okoli [7–8] %.
The Tier 1 ratio will reach around [13-16] % in the period 2012 to 2014.
Kapital prvega reda bo v obdobju 2012–2014 dosegel približno [13–16] %.
At the request of the Commission, the financial projections contained in the modified restructuring plan include a one-off payment of EUR 500 million in 2011 which has been deducted from net income before tax.
Na zahtevo Komisije finančne napovedi iz spremenjenega načrta prestrukturiranja vključujejo tudi enkratno plačilo v višini 500 milijonov EUR v letu 2011, ki je bilo odbito od čistega dobička pred obdavčitvijo.
The state-guaranteed long-term bonds will decrease from EUR 44 billion at the end of 2010 to EUR [13-18] billion at the end of 2014.
Dolgoročne obveznice z državnim jamstvom se bodo s 44 milijard EUR konec leta 2010 zmanjšale na [13–18] milijard EUR konec leta 2014.
HSH’s planning in respect of deposits factors in only a proportion of total deposits considered as stable (residual deposits (permanent average balances — Bodensatz) although the actual volume of deposits is expected to be higher and to cover a proportion of the funding gap. Although a proportion of the funding gap between funded assets and liabilities could be covered by short-term wholesale funding, HSH’s reliance on short-term wholesale funding decreases in absolute terms over the restructuring period. In respect of the funding strategy in EUR, HSH will in relative terms rely more on covered bonds.
Pri načrtovanju v zvezi z vlogami banka HSH upošteva samo del skupnih vlog, ki se štejejo za stabilne (preostale vloge (stalna povprečna bilanca – Bodensatz), čeprav naj bi bil dejanski obseg vlog večji in naj bi pomagal pri kritju finančnega primanjkljaja. Čeprav bi lahko banka del vrzeli v financiranju med financiranimi sredstvi in obveznostmi pokrila s kratkoročnimi medbančnimi posojili, se banka HSH v obdobju prestrukturiranja v absolutnem smislu vedno manj zanaša na kratkoročna medbančna posojila. Glede strategije financiranja v EUR se bo banka HSH v relativnem smislu bolj zanašala na krite obveznice.
The modified restructuring plan shows an increase in the capital positions and ratios of HSH over the restructuring period with a projected common equity ratio of [10-13] % at the end of 2014.
Spremenjeni načrt prestrukturiranja kaže izboljšanje stanja kapitala in kapitalskih deležev banke HSH v obdobju prestrukturiranja z načrtovanim deležem navadnega lastniškega kapitala v višini [10–13] % konec leta 2014.
At the request of the Commission HSH included in its financial projections an increase in share capital of EUR 500 million in 2013.
Na zahtevo Komisije je banka HSH v svoje finančne napovedi vključila povečanje osnovnega kapitala v višini 500 milijonov EUR v letu 2013.
A sale had, however, not been possible owing to a ‘holding agreement’ which had been concluded with the public-sector owners on 25 March 2003.
Vendar pa prodaja ni bila mogoča zaradi „holdinškega sporazuma“, ki sta ga združenji 25. marca 2003 sklenili z lastnikoma v javnem sektorju.
The parties to that holding agreement had undertaken to exercise their voting rights in a manner allowing the public-sector owners and the savings bank associations to maintain the majority voting rights and not to sell certain percentages of their shares.
Stranke sporazuma so se zavezale, da bodo svoje glasovalne pravice uporabljale tako, da bosta lastnika v javnem sektorju in združenji hranilnic ohranili večinske glasovalne pravice, dogovorili pa so se tudi, da določenega odstotka svojih deležev ne bodo prodali.
They noted in particular that the capital measures taken in favour of HSH in July 2008 were closely connected to the capital injection in May 2009.
Zlasti je ugotovila, da so bili ukrepi v zvezi s kapitalom, ki so bili julija 2008 sprejeti v korist banke HSH, tesno povezani s kapitalsko injekcijo maja 2009.
In July 2008 Flowers had brought in EUR 300 million in cash.
Investicijska družba Flowers je julija 2008 vložila 300 milijonov EUR v gotovini.
HSH submitted the modified restructuring plan on 11 July 2011.
Banka HSH je spremenjeni načrt prestrukturiranja predložila 11. julija 2011.
The modified restructuring measures comprise a balance sheet reduction of around 61 %, divestment of […] shareholdings and closure of 15 out of 21 international locations.
Spremenjeni ukrepi prestrukturiranja obsegajo zmanjšanje bilance stanja za približno 61 %, odprodajo […] deležev in zaprtje 15 od 21 poslovalnic v tujini.
The result of the valuation was that the expected losses would considerably exceed the EUR 3,2 billion first-loss tranche and exhaust the EUR 10 billion second-loss tranche […].
Rezultat vrednotenja je bil, da bi pričakovane izgube precej presegle tranšo prve izgube v višini 3,2 milijarde EUR in izčrpale tranšo druge izgube v višini 10 milijard EUR […].
The valuation of the portfolio showed that the REV lies […], at around EUR [155-170] billion (around EUR [172] billion minus EUR 3,2 billion minus EUR [2,5-10] billion).
Vrednotenje portfelja je pokazalo, da je realna ekonomska vrednost […], približno [155–170] milijard (približno [172] milijard EUR minus 3,2 milijarde EUR minus [2,5–10] milijard EUR).
The capital relief effect of the measure was confirmed by BaFin in February 2010.
Učinek razbremenitve kapitala ukrepa je februarja 2010 potrdil nemški bančni regulator BaFin.
The capital relief effect calculated on the basis of the asset valuation differs from the Commission’s preliminary assessment in recitals 51 et seq. of the Decision initiating the procedure.
Učinek razbremenitve kapitala, izračunan na podlagi vrednotenja sredstev, se razlikuje od predhodne ocene Komisije iz odstavka 51 in naslednjih sklepa o začetku postopka.
In order to ensure that cancellations are not performed at the expense of viability, partial cancellations of the guarantee should be carried out only as long as they do not result in the ratio of HSH’s common equity falling below [8,5-9,5] % as at 31 December 2011, [9-10] % as at 31 December 2012, [9,5-10,5] % as at 31 December 2013 or [10-11] % as at 31 December 2014.
Da bi zagotovili, da se razveljavitve ne izvajajo na račun uspešnega poslovanja, bi morale biti delne razveljavitve jamstva izvedene samo, če zaradi tega delež navadnega lastniškega kapitala banke HSH ne bi padel pod [8,5–9,5] % na dan 31. decembra 2011, [9–10] % na dan 31. decembra 2012, [9,5–10,5] % na dan 31. decembra 2013 ali [10–11] % na dan 31. decembra 2014.