2. Capital structure
2.1 Share capital
The share capital of VP Bank amounts to CHF 66,154,167 and is divided into 6,015,000 fully paid-up registered shares A with a par value of CHF 10.00 each, as well as 6,004,167 registered shares B with a par value of CHF 1.00 each (see Financial Report, ➔ page 155).
Balance as of 31.12.2019
2.2 Conditional and authorised capital
VP Bank has neither authorised nor conditional capital.
2.3 Changes in shareholders’ equity
The total shareholders’ equity of VP Bank for the past three ﬁnancial years (as at the respective balance-sheet date) has developed as follows:
2.4 Shares and participation certificates
The registered shares A of VP Bank are freely tradable on SIX Swiss Exchange. The registered shares B 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 A (par value of CHF 10.00) and each registered share B (par value of CHF 1.00) 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 registration 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 entitled to exercise membership rights of the company.
The Board of Directors can refuse to enter holders of registered share B into the register of shareholders on important grounds (Art. 7a of Articles of Incorporation). During the financial year, the Board of Directors did not make use of their powers of authority in this respect.
- Articles of Incorporation in the Internet: www.vpbank.com/regulations
2.7 Convertible bonds and options
VP Bank has issued neither convertible bonds nor options based on its shares.