8 Shareholders’ equity and employee participation plans
8.1 Dividends paid
| 2015 | 2016 |
Number of shares eligible for dividend | 11,238,250 | 11,498,012 |
Dividends paid (CHF/share) | 1.50 | 1.75 |
8.2 Movements in shares outstanding
Shares (each share has a nominal value of CHF 0.10) | Shares issued | Treasury shares | Shares outstanding |
Balance at January 1, 2015 | 11,444,576 | (286,020) | 11,158,556 |
New shares issued based on employee participation plans | 1,457 | – | 1,457 |
Treasury shares transferred based on employee participation plans | – | 36,689 | 36,689 |
Sale of treasury shares | – | 249,331 | 249,331 |
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Balance at June 30, 2015 | 11,446,033 | – | 11,446,033 |
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Balance at January 1, 2016 | 11,467,577 | – | 11,467,577 |
New shares issued based on employee participation plans | 60,970 | – | 60,970 |
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Balance at June 30, 2016 | 11,528,547 | – | 11,528,547 |
8.3 Conditional share capital reserved for the employee participation plans
Shares (each share has a nominal value of CHF 0.10) | 2015 | 2016 |
Balance at January 1 | 858,636 | 835,635 |
Employee share options exercised | (1,457) | (60,970) |
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Balance at June 30 | 857,179 | 774,665 |
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Employee share options and employee shares, not yet delivered | 303,029 | 293,284 |
8.4 Conditional and authorized share capital for the purpose of future business development
| 2015 | 2016 |
Conditional share capital |
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Shares (with a nominal value of CHF 0.10 each) | 1,800,000 | 1,800,000 |
CHF | 180,000 | 180,000 |
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Authorized share capital |
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Expiry date | 14.04.2016 | 13.04.2018 |
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. (the ultimate holding company) require that the existing conditional share capital for future business development shall be reduced if and to the extent authorized capital is used and 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.
8.5 Employee share option plans
(See note 10.4.1 of the consolidated financial statements 2015 for the terms and principal conditions)
Movements in employee share options:
Employee share options | 2015 | 2016 |
Balance at January 1 | 124,379 | 117,167 |
Exercised | (7,199) | (10,181) |
Forfeited or expired | (873) | (2,362) |
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Balance at June 30 | 116,307 | 104,624 |
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Thereof exercisable at period-end | 50,915 | 49,873 |
8.6 Employee share plans (Performance Share Matching Plans [PSMP] and other share plans)
(See note 10.4.2 of the consolidated financial statements 2015 for the terms and principal conditions)
Movements in employee shares:
Employee shares (excluding voluntary investments) | 2015 | 2016 |
Balance at January 1 | 234,805 | 235,134 |
PSMP 2012 and 2013 – matching shares vested and transferred | – | (24,571) |
PSMP 2012 and 2013 – matching shares forfeited | (62,855) | (31,131) |
PSMP current period – initial shares transferred (blocked) | 20,727 | 23,316 |
PSMP current period – mandatory shares transferred (blocked) | 4,847 | – |
PSMP current period – maximum of matching shares granted | 63,935 | 58,291 |
PSMP – shares deblocked and available to the participants | (5,181) | – |
Share plan 2014 and 2015 – Board of Directors – shares vested and transferred | (3,151) | (2,902) |
Share plan 2015 and 2016 – Board of Directors – shares granted | 2,902 | 2,251 |
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Balance at June 30 | 256,029 | 260,388 |
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Thereof vested, but blocked until the end of the performance period | 41,149 | 57,774 |
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