22. Share capital
The functional currency of Precious Woods Holding is Swiss francs. In the financial statements it is translated into the Group’s presentation currency (EUR) using historical exchange rates.
Share capital overview
| Number of shares at a nominal value of CHF 1 |
Number of shares at a nominal value of CHF 1 |
Share capital in thousand EUR |
Share capital in thousand EUR |
|||||
|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |||||
| Issued and fully paid-in capital | ||||||||
| At 1 January | 7 052 745 | 7 052 745 | 5 731 | 5 731 | ||||
| At 31 December | 7 052 745 | 7 052 745 | 5 731 | 5 731 | ||||
The shares rank equally with regard to voting rights and dividends, and the Articles of Association include no restrictions on transfer of the Group’s shares. Precious Woods’ registered shares are not subject to any restriction on voting, distribution, transfer or other rights that exceed regulations which are unalienable under Swiss law. The authorized share capital and the conditional share capital are intended to be utilized for acquisitions, the purchase of forests or for reforestations, investments, convertible loans, expansions of shareholder base or any other important reason. The shareholders’ subscription rights can be excluded in these cases, as well as for firm underwriting agreements.
Ordinary share capital
On 31 December 2023, the issued and fully paid-in share capital amounted to CHF 7 052 745 (2022: CHF 7 052 745).
Capital band
On 17 May 2023, the previous authorized share capital in the amount of CHF 1 000 000 was replaced by the General Meeting with a capital band of up to CHF 1 400 000. It will expire in May 2028.
Conditional share capital
On 31 December 2023, the portion of the conditional share capital which is intended to cover options of employees and board members amounted to CHF 46 638, and the total conditional share capital amounted to CHF 1 396 638.
Treasury shares
During the course of 2023, Precious Woods Holding purchased 975 treasury shares in the total amount of EUR 9 345. The Group held 2 607 treasury shares as of 31 December 2023 (2022: 1 632 treasury shares).