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 September 30, 2021, the Company has purchased 63 360 treasury shares at an average price of CHF 88.73 to the amount of TCHF 5 622 and 117 572 treasury shares at an average price of CHF 82.10 to the amount of TCHF 9 653 were sold (01.01.–30.09.2020: no transactions). As at September 30, 2021, the Company holds 60 450 treasury shares (December 31, 2020: 114 662 shares). The treasury shares as at September 30, 2021, were treated as a deduction from the consolidated shareholders’ equity using cost values of TCHF 5 368 (December 31, 2020: 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 September 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.