NOTE 24. Related parties

Transactions with related parties are considered to be transactions with members of the Group’s Supervisory Board and Management Board, their relatives and the companies in which they have control or significant influence and transactions with shareholder having the significant influence. Dividend payments are indicated in the Statement of Changes in Equity.

The Group’s Management Board and Supervisory Board members are considered as key management personnel who have received only the contractual salary payments as disclosed above. In addition to this some Board Members have received direct compensations from the companies belonging to the group of United Utilities (Tallinn) B.V. as overseas secondees. Such compensations are recorded as purchase of administrative and consulting services.

38 thousand euros were paid to the Management Board members as termination fees in the year that ended on 31 December 2014 (in the year that ended on 31 December 2013: 18 thousand euros). The off balance sheet potential salary liability would be up to 69.3 thousand euros (excluding social tax) if the Supervisory Board would replace all Management Board members.

The Group’s Management Board or Supervisory Board members do not have more than 5% shareholding in any of the companies having important business or cooperation relations with the Group.

The information about AS Tallinna Vesi shares belonging to the related parties is disclosed in note 15. Paid-up dividends are described in note 21.