2. Capital structure
2.1 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 (financial report, → page 174).
| Number | Balance on 31.12.2023 Capital in CHF |
|---|---|---|
Registered shares A | 6,015,000 | 60,150,000 |
Registered shares B | 6,004,167 | 6,004,167 |
Total | 12,019,167 | 66,154,167 |
2.2 Capital band and conditional capital
VP Bank does not have any conditional capital. A capital band is not applicable to VP Bank Ltd as it is a Liechtenstein enterprise.
2.3 Changes in capital
The total shareholders’ equity of VP Bank for the past three financial years (as at the respective balance sheet date) changed as follows:
in CHF 1,000 | 31.12.2021 | 31.12.2022 | 31.12.2023 |
|---|---|---|---|
Share capital | 66,154 | 66,154 | 66,154 |
Capital reserves | 47,049 | 47,049 | 47,049 |
Statutory reserves | 239,800 | 239,800 | 239,800 |
Other reserves | 361,062 | 363,615 | 366,007 |
Provisions for general | 63,150 | 63,150 | 63,150 |
Retained earnings | 158,736 | 149,498 | 145,469 |
Total | 935,951 | 929,266 | 927,629 |
2.4 Shares and participation certificates
The registered shares A of VP Bank can be traded freely on SIX Swiss Exchange Ltd. The registered shares B are not listed, but are widely held among the regional population. Both share categories bestow the member- ship rights provided for in the Liechtenstein Persons and Companies Act (PCA) and the company’s Articles of Association.
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 Dividend-right certificates
VP Bank has issued no dividend-right 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 Association.3 Only shareholders entered into the share register are entitled to exercise membership rights vis-à-vis the company.
The Board of Directors can refuse to enter holders of registered shares B into the share register on important grounds (Art. 7a of the Articles of Association). During the reporting year, the Board of Directors did not make use of their powers of authority in this respect.
2.7 Convertible bonds and options
VP Bank has issued neither convertible bonds nor options based on its own shares.