2. Capital structure
2.1 Share capital
The share capital of VP Bank amounts to CHF 66,154,167 and is divided into 6,004,167 fully paid-up registered shares with a par value of CHF 1.00 each, as well as 6,015,000 bearer shares with a par value of CHF 10 each (see Financial Report).
| Number | Balance as at 31.12.2015 |
Registered shares | 6,004,167 | 6,004,167 |
Bearer shares | 6,015,000 | 60,150,000 |
Total | 12,019,167 | 66,154,167 |
2.2 Conditional and authorised share capital
VP Bank has neither authorised nor conditional capital.
2.3 Changes in share capital
During the extraordinary general meeting held on 10 April 2015, a capital increase of CHF 7,006,530 together with the issuance of 700.653 bearer shares with a par value of CHF 10.00 was approved. The total shareholders' equity of VP Bank for the past three financial years (as at the respective balance-sheet date) has developed as follows:
in CHF 1,000 | 31.12.2013 | 31.12.2014 | 31.12.2015 |
Share capital | 59,148 | 59,148 | 66,154 |
Capital reserves | 0 | 0 | 47,239 |
Legal reserves | 239,800 | 239,800 | 239,800 |
Other reserves | 344,089 | 344,446 | 344,481 |
Provisions for general banking risks | 63,150 | 63,150 | 63,150 |
Retained earnings | 55,893 | 55,958 | 77,330 |
Total | 762,080 | 762,501 | 838,154 |
2.4 Shares and participation certificates
The bearer shares of VP Bank 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, irrespective of the par value of the share.
VP Bank has issued no participation certificates.
2.5 Profit-sharing certificates
VP Bank 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 Incorporation3. Only those shareholders entered into the share register are allowed to exercise membership rights of the company. The Board of Directors may refuse entry into the share register for compelling reasons.
- The Articles of Incorporation in the Internet: www.vpbank.com (→ Investors & Media → Publications → Regulations)
2.7 Convertible bonds and warrants/options
VP Bank has issued neither convertible bonds nor warrants/options based on its shares.