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. The registered voting shares (CHF 1.00 each) 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 voting shares are not subject to any restriction on voting, distribution, transfer or other rights that exceed regulations which are unalienable under Swiss law. The newly issued registered preferred shares (CHF 10.00 each) were issued under the same premise. The shareholders’ subscription rights can be excluded in these cases, as well as for firm underwriting agreements.
Share capital overview
Number of shares |
Number of shares |
Share capital in thousand EUR |
Share capital in thousand EUR |
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|---|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |||||
| Issued and fully paid-in capital | ||||||||
| At 1 January 1 | 7 052 745 | 7 052 745 | 5 731 | 5 731 | ||||
| Increase 2 | 869 838 | – | 9 133 | – | ||||
| At 31 December | 7 922 583 | 7 052 745 | 14 864 | 5 731 | ||||
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1 Number of registered voting shares with a nominal value of CHF 1.00 per share
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2 Number of registered preferred shares with a nominal value of CHF 10.00 per share
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Ordinary share capital
On 31 December 2024, the issued and fully paid-in share capital amounted to CHF 15 751 125 (2023: CHF 7 052 745). At the extraordinary general meeting held in Zug on 2 December 2024, the shareholders of Precious Woods Holding Ltd. approved the ordinary capital increase proposed by the Board of Directors. Shareholder loans in the amount of CHF 43.5 million were converted into equity by offsetting, with 869 838 registered preferred shares with a nominal value of CHF 10.00 and a conversion price of CHF 50.00 being issued.
Capital band
On 2 December 2024, the previous authorized capital band in the amount of CHF 1 000 000 was renewed by the extraordinary general meeting. The limits had to be adjusted due to the share capital increase that took place on the same day: The lower limit is CHF 15 751 125 and upper limit is CHF 16 751 125. It will expire in May 2028.
Conditional share capital
On 31 December 2024, 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 2024, Precious Woods Holding purchased no treasury shares. The Group held 2 607 treasury shares as of 31 December 2024 (2023: 2 607 treasury shares).