2. Capital structure

2.1 Capital

The share capital of VP Bank Group amounts to CHF 59,147,637 and is divided into 6,004,167 fully paid-up registered shares with a par value of CHF 1.00 each, as well as 5,314,347 bearer shares with a par value of CHF 10 each (see financial report).

 

 

Number

Balance as at 31/12/2013 
Share capital in CHF

Registered shares

6,004,167

6,004,167

Bearer shares

5,314,347

53,143,470

Total

11,318,514

59,147,637

2.2 Authorised and conditional capital

VP Bank Group has neither authorised nor conditional capital pending.

 

2.3 Changes in capital

The share capital of VP Bank Group has not changed during the past three years. Total share­holders’ equity of VP Bank Group for the past three financial years (as at the respective balance-sheet date) has developed as follows:

 

in CHF 1,000

31/12/2013

31/12/2012

31/12/2011

Share capital

59,148

59,148

59,148

Legal reserves

239,800

239,800

239,800

Other reserves 

344,089

343,791

357,622

Provisions for general banking risks

63,150

63,150

63,150

Retained earnings

55,893

29,479

16,464

Total

762,080

735,368

736,184

 

2.4 Shares and participation certificates

The bearer shares of VP Bank Group are freely tradable on SIX Swiss Exchange. The registered shares are not listed, but are widely held among the regional population. Both share categories bestow the membership rights provided for in the Liechtenstein Persons and Companies Act (PCA) and the company’s Articles of Incorporation. Each registered share (par value of CHF 1.00) and each bearer share (par value of CHF 10.00) grants the holder the right to one vote at the annual general meeting of VP Bank Group, irrespective of the par value of the share.

VP Bank Group has not issued any participation certificates.

 

2.5 Profit-sharing certificates

VP Bank Group has issued no profit-sharing certificates.

 

2.6 Limitations on transferability and nominee registrations

The recording and transfer of registered shares is regulated in detail in Art. 7 of the Articles of Incorporation1. Only those shareholders entered into the share register are allowed to exercise membership rights vis-à-vis the company. The Board of Directors may refuse entry into the share register for compelling reasons.

 

2.7 Convertible bonds and warrants/options

VP Bank Group has issued neither convertible bonds nor warrants/options based on its shares.