6. Shareholders’ equity

The share capital of the Company consists of 55.4 mn fully paid registered shares (December 31, 2020: 55.4 mn) with a par value of CHF 0.20 each (December 31, 2020: CHF 0.20).

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, 2021, to June 30, 2021, the Company has not purchased any treasury shares and 114 662 treasury shares were sold at an average price of CHF 81.96 to the amount of TCHF 9 398 (01.01.–30.06.2020: no transactions). As at June 30, 2021, the Company holds no treasury shares. (December 31, 2020: 114 662 shares). The treasury shares as at December 31, 2020, were treated as a deduction from the consolidated shareholders’ equity using cost values of TCHF 8 240.

Share buyback 2nd line (bought for cancellation)

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 June 30, 2021, 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.