Capital structure
Capital structure and change in capital structure
in CHF mn | 2025 | 2024 | 2023 |
Ordinary share capital | 106.00 | 106.00 | 106.00 |
Ordinary increase in capital | – | – | – |
Conditional share capital | – | – | – |
Conditional increase in capital | – | – | – |
Participation certificates | – | – | – |
Dividend-right certificates | – | – | – |
Convertible bonds | – | – | – |
Additional information concerning changes in equity can be found in the statement of changes in equity (page 112) of the consolidated financial statements.
Registered shares
number | 2025 | 2024 | 2023 | |
Nominal value | in CHF | 10 | 10 | 10 |
Voting rights per share | 1 | 1 | 1 | |
Number of issued shares | 10’600’000 | 10’600’000 | 10’600’000 | |
Number of shared entitled to dividends | 10’273’198 | 10’595’999 | 10’591’213 | |
Total number of voting rights | 10’273’198 | 10’595’999 | 10’591’213 | |
Number of outstanding shares (weighted average) | 10’397’217 | 10’594’897 | 10’598’744 | |
Number of treasury shares (as of balance sheet date) | 326’802 | 4’001 | 8’787 |
There are no differences in dividend rights or other priority rights with the exception of those described in the “Limitations on transferability and nominee registrations” section below.
Details with regard to market capitalisation can be found in the information for investors section (page 105).
Limitations on transferability and nominee registrations
On request, purchasers of registered shares will be registered as shareholders with voting rights if they specifically declare that they have purchased such shares in their own name and for their own account. Registration cannot be refused on the grounds that the application was made by the bank of the purchaser.
The Board of Directors may deny registration of the purchaser as a shareholder or beneficiary with voting rights to the extent that the shares held by the shareholder would exceed 5% of the total number of shares recorded in the commercial register. Legal entities and partnerships which are bound or affiliated in terms of capital and voting rights by a common management or in any other form, as well as individuals, legal entities and partnerships acting in concert or with a view to circumventing the provision at hand, are considered to be one entity.
Shareholders who were registered in the share register as of 14 September 2000 or purchasers who are family members of such shareholders are exempt from this restriction on registration.
No exceptions were granted to these rules during the reporting year.
The Board of Directors may register nominees in the share register with voting rights of up to a maximum of 3% of the share capital registered in the commercial register. Nominees are persons who, when applying for registration, do not specifically declare that they hold the shares for their own account. The Board of Directors may register nominees with more than 3% of the registered share capital, granting them voting rights, insofar as the nominee in question has provided the company with the names, addresses and number of shares held by such persons for whom they hold 0.5% or more of the registered share capital entered in the commercial register. The Board of Directors may enter into agreements with such nominees, which govern, among other items, the representation of the shareholders and their voting rights.
The Board of Directors may cancel the entries of shareholders or nominees in the share register retroactively to the date of entry should it be apparent after a hearing that such entries were made based on false information. The persons affected must be informed of said cancellation immediately.
Convertible bonds and options
Currently, there are no convertible bonds and options.