15. Convertible loans

In May 2015, the convertible loans of CHF 5.5 million were replaced by a con­vertible loan in the amount of CHF 0.5 million, repayable in 2 years’ time and by a long-term loan in the amount of CHF 5 million, repayable in 4 years’ time. The total carrying amount of the convertible loan (financial liabilities) amounted in 2016 to EUR 0.5 million and it was recognized as short-term convertible loan. On 18 May 2017, CHF 480 000 were converted into shares at the rate of CHF 3.20 per share and CHF 20 000 were paid back.