Related party transactions

The key related party entities of Terrafame Ltd include Terrafame Group Ltd, the state of Finland, Galena Private Equity Resources Investment 2 L.P. and Galena Private Equity Resources Investment 3 L.P. funds, as well as Trafigura Ventures V B.V. The related parties also include members of Boards, CEOs and management team members of group companies, persons responsible for Terrafame Ltd’s commercial agreements, immediate family members of persons referred to here, as well as entities over which they or their immediate family members have control. Further, entities in which the Government of Finland exercises either control or significant influence are considered related parties of Terrafame. Terrafame has applied an exemption pursuant to which it only reports significant transactions with Government-related companies.

Financing arrangements between the company and Trafigura Ventures V B.V., Galena Private Equity Resources Investment 2 L.P. and Galena Private Equity Resources Investment 3 L.P. funds, and Terrafame Group Ltd, as well as commercial agreements between the company and Trafigura ventures V B.V., have been described in the Report of the Board of Directors. In addition, the counter-guarantees related to environmental collateral by the state of Finland and the parent company have been described in the report.

All business transactions between Terrafame Ltd and its related parties were market-conform.

 

Business transactions with related parties

(EUR 1,000)
 31 Dec 2017 31 Dec 2016

Goods and services sold
   
Other related party ventures 212,887 0
Ventures total 212,887 0
Total  212,887 0


(EUR 1,000)
31 Dec 2017 31 Dec 2016

Goods and services purchased
   
Other related party ventures 18,701 0
Ventures total 18,701 0
Total 18,701  0
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