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2. Capital structure

The ordinary share capital on 31 December 2019 stood at CHF 7 052 745 (7 052 745 registered shares at CHF 1.00 each).

As of 31 December 2016, the conditional share capital amounted to CHF 348 573 (348 573 shares with a nominal value of CHF 1.00 each). On 18 May 2017, the Annual General Meeting authorized to increase the conditional share capital to CHF 1 500 000 (1 500 000 shares with a nominal value of CHF 1.00 each) in accordance with Article 3a of the Articles of Association. On 18 May 2017, the conversion right of a loan to subscribe for shares was exercised. The capital increase amounted to CHF 150 000 (150 000 shares nominal value of CHF 1.00 each). No change occurred in 2019. As of 31 December 2019, the conditional capital amounts to CHF 1 396 638 (1 396 638 shares with a nominal value of CHF 1.00 each).

On 16 May 2019, the Annual General Meeting approved an authorized share capital of CHF 1 000 000 (1 000 000 shares with a nominal value of CHF 1.00 each). The BoD is thus authorized to increase the share capital at any time until 15 May 2021 by a maximum amount of CHF 1 000 000 by way of issuance of no more than 1 000 000 registered shares that are to be fully paid in with a nominal value of CHF 1.00 each. In 2019, no capital increase from authorized share capital was executed. On 31 December 2019, the amount of the authorized capital is CHF 1 000 000 in shares (1 000 000 shares with a nominal value of CHF 1.00 each). More information about the capital structure can be found in note 23 of the Consolidated Group Financial Statements.

Two loans in the amount of CHF 2.7 million were repaid in April and October 2019. On October 2019, two loans of CHF 1.25 million each with maturity until October 2022 were obtained.