5 Shareholders’ equity
5.1 Changes in shareholder’s equity
CHF 1,000 | Share capital | Legal capital reserve | Reserve | General legal | Voluntary retained earnings | Treasury | Total share- |
Balance at December 31, 2013 | 1,144 | 2,597 | 19,401 | 1,000 | 152,122 | – | 176,264 |
|
|
|
|
|
|
|
|
Introduction of new Swiss GAAP | – | – | (19,401) | – | 19,401 | (19,401) | (19,401) |
|
|
|
|
|
|
|
|
Net profit | – | – | – | – | 48,752 | – | 48,752 |
Dividend paid | – | – | – | – | (16,651) | – | (16,651) |
Sale of treasury shares | – | – | – | – | – | 4,104 | 4,104 |
|
|
|
|
| – | – | – |
Balance at December 31, 2014 | 1,144 | 2,597 | – | 1,000 | 203,624 | (15,297) | 193,068 |
|
|
|
|
|
|
|
|
Net profit | – | – | – | – | 11,524 | – | 11,524 |
Dividend paid | – | – | – | – | (16,857) | – | (16,857) |
Share capital increase | 3 | 3,120 | – | – | – | – | 3,123 |
Sale of treasury shares | – | – | – | – | – | 15,297 | 15,297 |
|
|
|
|
|
|
|
|
Balance at December 31, 2015 | 1,147 | 5,717 | – | 1,000 | 198,291 | – | 206,155 |
The Company’s share capital is CHF 1,146,758, consisting of 11,467,577 registered shares with a nominal value of CHF 0.10 each (2014: share capital of 1,144,458 consisting of 11,444,576 registered shares with a nominal value of CHF 0.10 each).
5.2 Conditional and authorized share capital
In 1997, a conditional share capital of CHF 1,300,000 reserved for employee participation plans was approved. The conditional share capital consisted of 1,300,000 registered shares with a nominal value of CHF 1.00 each. Since 1999, several employee participation plans have been introduced based on this conditional share capital. Between February 2011 and June 2015 the employee participation plans were funded with treasury shares. In the second half of 2015 a total of 23,001 options were exercised, increasing the Company’s share capital by CHF 2,300 and decreasing the Company’s conditional share capital by 23,001 shares.
On April 26, 2006 and on April 14, 2014, the Annual General Meeting of Shareholders approved the creation of additional conditional and authorized share capital for the purpose of future business development.
| 2014 | 2015 |
Conditional share capital |
|
|
Reserved for employee participation plans |
|
|
Shares (with a nominal value of CHF 0.10 each) | 858,636 | 835,635 |
CHF | 85,864 | 83,564 |
|
|
|
Employee share options outstanding | 124,379 | 117,167 |
Shares granted to employees based on performance share matching plans, not yet delivered | 182,740 | 183,820 |
Shares granted to employees based on other share plans, not yet delivered | 5,373 | 2,902 |
|
|
|
Reserved for future business development |
|
|
Shares (with a nominal value of CHF 0.10 each) | 1,800,000 | 1,800,000 |
CHF | 180,000 | 180,000 |
|
|
|
Authorized share capital |
|
|
Reserved for future business development |
|
|
Expiry date | 14.04.2016 | 14.04.2016 |
Shares (with a nominal value of CHF 0.10 each) | 2,200,000 | 2,200,000 |
CHF | 220,000 | 220,000 |
The Articles of Incorporation of Tecan Group Ltd. require that the existing conditional share capital for future business development shall be reduced if and to the extent authorized capital is used and that the authorized capital shall be reduced if and to the extent new shares are created under the respective conditional capital. However, the conditional share capital for employee participation plans is not affected by this rule.
5.3 Treasury shares
Shares (each share has a nominal value of CHF 0.10) | 2014 | 2015 |
Balance at January 1 | 362,840 | 286,020 |
Treasury shares transferred based on employee participation plans | (76,695) | (36,689) |
Sale of treasury shares | (125) | (249,331) |
|
|
|
Balance at December 31 | 286,020 | – |
|
|
|
Average price of shares purchased, CHF | 0.00 | 0.00 |
Average price of shares sold, CHF | 106.55 | 126.11 |
Follow Tecan