Group structure
and shareholders
Group structure
The Groupʼs operational structure is shown in the “Executive Management” section (page 34) of the Annual Report.
The group of consolidated companies includes the following listed company:
Name:
Place listed:
Market capitalisation:
Treasury shares (as of 31 December 2025):
Securities symbol:
ISIN:
TX Group AG (formerly Tamedia AG), Zurich
SIX Swiss Exchange, Switzerland, listed since 2 October 2000
see Capital structure section (page 24)
326,802
TXGN
CH 0011178255#
Symbol:
- Bloomberg:
- Reuters:
- TXGN.SW
- TXGN.S
Group companies not listed on the stock exchange are shown in Note 4.2 of the consolidated financial statements (starting on page 108).
Significant shareholders
Significant shareholders and significant groups of shareholders and their investments in TX Group, to the extent known to TX Group, are shown in the following table. The notifications published during the reporting year can be found on the publication platform of the Disclosure Office1.
Principal shareholders
Name | 2025 1 | 2024 1 | 2023 1 |
Dr. Severin Coninx, Bern | 13.20% 2 | 13.20% | 13.20% |
Rena Maya Coninx Supino, Zurich | 12.95% | 12.95% | 12.95% |
Dr. Hans Heinrich Coninx, Küsnacht | 11.93% 3 | 11.93% 3 | 11.93% 3 |
Fabia Schulthess, Zurich | 5.53% | 5.53% | 5.53% |
Andreas Schulthess, Wettswil | 5.53% | 5.53% | 5.53% |
Ellermann Lawena Stiftung, FL-Vaduz | 6.87% | 6.87% | 6.87% |
Ellermann Pyrit GmbH, D-Stuttgart | 1.94% | 3.82% | 3.94% |
Ellermann Rappenstein Stiftung, FL-Vaduz | 5.86% | 5.86% | 5.86% |
Other members of the shareholders' agreement | 3.05% 4 | 3.05% 4 | 3.05% 4 |
Total members of the shareholders' agreement | 66.84% | 68.73% | 68.84% |
Regula Hauser-Coninx, Weggis | 4.63% | 4.63% | 4.63% |
Tweedy Browne Company LLC | 3.56% | 3.77% | 4.59% |
Epicea AG, Bern | 3.25% | 3.25% | 3.25% |
Medien- und Unternehmungsförderungsstiftung FERS, Bern | 0.69% | 0.69% | 0.69% |
Medien- und Unternehmensförderungsstiftung FERS | 3.94% | 3.94% | 3.94% |
Lugard Road Capital Master Fund LP, Grand Cayman, KY | 3.04% | 3.74% | 0.00% |
1The disclosures as of 31 December relate to the 10.6 million registered shares issued.
2Dr. Severin Coninx deceased on 22 January 2026. The information on the holdings corresponds to the ownership structure as at 31 December 2025.
3Of which rights to usufruct in relation to 393,234 registered shares in the name of Martin Coninx (Männedorf), rights of usufruct in relation to 393,233 registered shares in the name of Claudia Isabella Coninx-Kaczynski (Zollikon) and rights of usufruct in relation to 393,233 registered shares in the name of Christoph Coninx (Oetwil an der Limmat).
4The other members of the shareholders' agreement are: – Beatrice Calcagni – Isabella Calcagni – Pietro Calcagni – Prof. Dr. Anna Coninx Mona – Erbengemeinschaft Annette Coninx Kull – Caspar Coninx – Christoph Coninx – Claudia Isabella Coninx-Kaczynski – Franziska Nicolasina Coninx – Lorenz Coninx – Martin Coninx – Philipp Coninx – Salome Coninx – Jessica Natalja Kaczynski – Luca Kaczynski – Tatjana Kaczynski – Antonia Kaestner – Casper Kaestner – Clara Kaestner – Dr. Franziska Kaestner-Richter – Moritz Kaestner – Antje Landshoff-Ellermann – Saskia Landshoff – Hanna Marti – Konstantin Richter – Sabine Richter-Ellermann – Matteo Schulthess – Dr. Anna P. Supino Calcagni – Dr. Pietro Supino
Principal shareholders are disclosed based on Art. 120 ff. of the Swiss Financial Market Infrastructure Act (FMIA) and the corresponding ordinances.
The following central features of the shareholdersʼ agreement of the founding family are also published in this context:
- All shareholders who are members of the founding family (pool shareholders), with the exception of Regula Hauser-Coninx, are bound by the shareholdersʼ agreement (pool agreement). The pool agreement came into force on the date of listing for a period of eight years and was extended in 2008 until 2017. In the course of 2015, the founding family of TX Group extended their shareholdersʼ pool agreement, which was due to expire in 2017, ahead of time and for an indefinite period.
- The pool agreement serves, among other things, to coordinate voting rights among pool members with regard to their representation on the Board of Directors.
- It also governs how pool shareholders exercise their voting rights in relation to other topics requiring shareholder approval, such as determining dividends.
- Other matters to be voted on at the General Meeting will be announced to the pool shareholders before such meeting. If pool shareholders representing two thirds of the votes represented at a meeting of the pool shareholders approve such an item, the pool shareholders must vote unanimously on such item at the General Meeting. Otherwise, the pool shareholders are unrestricted in the exercise of their voting rights.
- The agreement does not relate to matters which lie within the responsibility of the Board of Directors or the Group Management/Executive Management of TX Group or that of its subsidiaries.
- The agreement includes a right of first refusal for all parties to the shareholdersʼ agreement in the event that a pool shareholder wishes to transfer their shares to an independent third party (either with or without compensation). Should this be the case, said shareholder must first offer their shares to the pool members. The other pool shareholders have the right to purchase such shares at the current market price minus a 20% discount.
- Pool shareholders represent a group of shareholders who act in compliance with the requirements of Art. 121 FMIA. Any future exchange of shares among the current pool shareholders will not result in an obligation to announce and make public any such change. If, however, the entire pool should sell shares and as such the percentage of pooled shares should fall below the legal thresholds (e.g. below 66⅔% or below 50%), the pool will be required to inform the Swiss Stock Exchange and TX Group. An obligation to notify will also exist if a new member is added to the pool or one pool member no longer holds any shares.
The shareholders united under the shareholdersʼ agreement, consisting of members of the founding family, held 66.8% of TX Group registered shares on the balance sheet date.
Cross-shareholdings
During the current financial year, there were no cross-shareholdings based on either share capital holdings or on voting rights.