7. Shareholders’ equity
The share capital of the Company consists of 55.4 mn fully paid registered shares (2019: 55.4 mn registered shares) with a par value of CHF 0.20 each (2019: CHF 0.20). CHF 2.2 mn of the retained earnings (2019: CHF 2.2 mn) are undistributable.
|
|
|
Share capital |
|
Treasury shares |
|
Retained earnings |
|
Total |
|
Balances at January 1, 2019 |
|
11 080 |
|
– |
|
2 873 432 |
|
2 884 512 |
|
Dividend |
|
– |
|
– |
|
(168 970) |
|
(168 970) |
|
Total comprehensive income for the year |
|
– |
|
– |
|
677 431 |
|
677 431 |
|
Balances at December 31, 2019 |
|
11 080 |
|
– |
|
3 381 893 |
|
3 392 973 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances at January 1, 2020 |
|
11 080 |
|
– |
|
3 381 893 |
|
3 392 973 |
|
Dividend |
|
– |
|
– |
|
(188 360) |
|
(188 360) |
|
Trade with treasury shares (incl. change in balance) |
|
– |
|
(8 241) |
|
1 |
|
(8 240) |
|
Total comprehensive income for the year |
|
– |
|
– |
|
691 174 |
|
691 174 |
|
Balances at December 31, 2020 |
|
11 080 |
|
(8 241) |
|
3 884 708 |
|
3 887 547 |
At December 31, 2020 and 2019, the Company has neither authorized nor conditional capital.
Treasury shares
The Company can buy and sell treasury shares in accordance with the Company’s articles of association and Swiss company law and in compliance with the listing rules of the SIX Swiss Exchange. During the period from January 1, 2020, to December 31, 2020, the Company has purchased 114 998 treasury shares to the amount of TCHF 8 260 and 336 treasury shares to the amount of TCHF 20 were sold (December 31, 2019: nil). As at December 31, 2020, the Company held in total 114 662 treasury shares (December 31, 2019: nil). These treasury shares are treated as a deduction from the consolidated shareholders’ equity using cost values of TCHF 8 240 (December 31, 2019: TCHF nil).
Share buyback 2nd line (bought for cancellation)
The General Shareholders’ Meeting held on March 17, 2016, has approved a share buy-back program, whereby up to 5 540 000 shares may be repurchased by the Company. Until the end of the program, at April 11, 2019, no shares had been repurchased under this share buy-back program.
The Board of Directors has approved the repurchase of a maximum of 5 540 000 own registered shares with a nominal value of CHF 0.20 each. The share buy-back program will run from April 12, 2019, until April 11, 2022, at the latest. Until December 31, 2020, no shares had been repurchased under this share buy-back program. A repurchase would take place via second trading line for the purpose of a subsequent capital reduction.