3.4 Equity

Audited information

As at 31 December 2023, the share capital consists of 12,800,000 registered shares at a par value of CHF 0.10 each and remains unchanged from 31 December 2022.

CONDITIONAL SHARE CAPITAL

Article 3a of the Company’s Articles of Association sets out that the Company’s share capital shall be increased by a maximum amount of CHF 30,000 through the issuance of no more than 300,000 fully paid-up registered shares with a nominal value of CHF 0.10 by way of the exercise of conversion rights and/or warrants, belonging to employees and members of the Board of Directors and the Executive Board in accordance with the applicable regulations and resolutions of the Board of Directors.

Article 3b of the Company’s Articles of Association sets out that the share capital may be increased by the issuance of up to 1,280,000 fully paid-up registered shares with a nominal value of CHF 0.10 each, up to CHF 128,000, by means of the exercise of conversion rights and/or warrants granted in connection with newly or already issued bonds or similar debt instruments of the Company or its Group companies to Company creditors and/or investors.

RETAINED EARNINGS

Retained earnings are only distributable on a limited basis:

  • –The retained earnings of Investis Holding SA pursuant to a resolution of the Annual General Meeting
  • –The retained earnings of subsidiaries in accordance with local fiscal and statutory requirements, first to the respective parent company

TREASURY SHARES

Members of the Board of Directors, the Executive Board and employees in key management positions received part of their compensation in shares. See compensation report and Note 1.2.

 

 

2023

 

2022

 

Quantity

Value CHF 1,000

Quantity

Value CHF 1,000

Net carrying amount as at 1 January

69,335

5,478

56,752

3,615

Purchase of treasury shares 1)

 

 

30,000

2,972

Use of treasury shares 2)

–17,052

–1,389

–17,417

–1,609

Gain on use of treasury shares recognised in capital reserves

 

41

 

499

Net carrying amount as at 31 December

52,283

4,131

69,335

5,478

1) In 2023, Investis Holding SA acquired no registered treasury shares (2022: 30,000 shares at an average price of CHF 99.08).

2) In 2023, Investis Holding SA used 17,052 (2022: 17,417) registered treasury shares at an average price of CHF 81.44 (2022: CHF 92.36) for the share-based compensation.

Accounting principles

Non-controlling interests in equity and profit are presented separately in the consolidated balance sheet and the consolidated income statement.

Treasury shares (own equity instruments held by the Investis Group) are accounted for as a reduction of equity at acquisition cost and are not subsequently re-measured. When shares are used or sold out of treasury shares, the resulting profit or loss is recognised in the capital reserves.