10. Equity
The participation rights issued can be specified as follows:
Reserve | |||||||
Fund equity | General paid in surplus | Property | Derivatives | Legal | Other | Total equity | |
As at 1 January 2022 | 35 | 1,659 | 3,751 | (4) | 2 | 2,110 | 7,553 |
Result for the year | - | - | (168) | - | - | 156 | (12) |
Other comprehensive income | - | - | - | 1 | (1) | 2 | 2 |
Total comprehensive income | - | - | (168) | 1 | (1) | 158 | (10) |
Realised from property sales | - | - | (14) | - | - | 14 | - |
Equity redemption | - | (50) | - | - | - | - | (50) |
Distribution paid | - | (195) | - | - | - | - | (195) |
As at 31 December 2022 | 35 | 1,414 | 3,569 | (3) | 1 | 2,282 | 7,298 |
Result for the year | - | - | (827) | - | - | 171 | (656) |
Other comprehensive income | - | - | - | 1 | (2) | - | (1) |
Total comprehensive income | - | - | (827) | 1 | (2) | 171 | (657) |
Realised from property sales | - | - | (16) | - | - | 16 | - |
Capital paid in | - | - | - | - | - | - | - |
Reclasses | - | 1 | - | (1) | 5 | (5) | - |
Equity issued | 1 | 116 | - | - | - | - | 117 |
Equity redemption | (1) | (166) | - | - | - | - | (167) |
Distribution paid | - | (199) | - | - | - | - | (199) |
As at 31 December 2023 | 35 | 1,166 | 2,726 | (3) | 4 | 2,464 | 6,392 |
In 2023, Vesteda paid €167 million in redemptions, consisting of the payout of the Redemption Available Cash of €50 million and three secondary transactions for in total €117 million. Two transactions were with existing participantswho have expanded their holding, and one with a new entrant.
Proposals to investors
Proposed appropriation of result for 2023
The Management Board proposes that the loss for the year of €656 million be taken to equity. This proposal has been incorporated in the annual report.
Proposed distribution to participants
The Management Board proposes a distribution to participants of €198.4 million for the year 2023, of which €115.8 million was paid in the financial year 2023 and €38.6 million was paid in January 2024. The financial statements will be presented for adoption at the General Meeting of Participants on 3 April 2024. Following the adoption, the remaining €44.0 million will be paid as a final distribution for 2023.