The 25th ordinary General Meeting of Shareholders on 12 May 2017 resolved to convert the previously listed bearer shares into registered shares having the same nominal value. The share exchange took place on Thursday, 18 May 2017 at the ratio of 1:1. Consequently, the share capital of the Liechtensteinische Landesbank comprised 30’800’000 registered, fully paid shares with a nominal value of CHF 5.00 each and therefore amounted to CHF 154.0 million.
2.2 Conditional and approved capital
On the balance sheet date, the Liechtensteinische Landesbank had no conditional capital and no approved capital
2.3 Changes to capital
Details regarding changes to capital during the last three report years are shown in the table “Consolidated statement of changes in equity”.
2.4 Shares and participation certificates
As at 31 December 2017, the share capital amounted to 30’800’000 fully paid registered shares with a nominal value of CHF 5.00. With the exception of the LLB shares held by the Liechtensteinische Landesbank and its subsidiaries (1’922’937 shares), all the shares are eligible for dividend. As at 31 December 2017, share capital eligible for dividend therefore amounted to CHF 144.4 million. In principle, all LLB shares are eligible for voting according to the principle of “one share, one vote”. However, on account of the regulations concerning the purchase of own shares (Art. 306a ff. PGR/Liechtenstein Person and Company Law), the shares held by Liechtensteinische Landesbank and its subsidiaries are not eligible for voting. There are no priority rights or similar entitlements. Shareholders have a subscription right with the issue of new shares, which entitles them to subscribe to new shares in proportion to the number of shares they already hold.
Liechtensteinische Landesbank AG has not issued participation certificates.
2.5 Profit-sharing certificates
Liechtensteinische Landesbank AG has no outstanding profit-sharing certificates
2.6 Transfer limitations and nominee registrations
The registered shares of Liechtensteinische Landesbank are fully transferable, whereby the Principality of Liechtenstein holds at least 51 percent of the capital and voting rights, and may not sell this equity stake.
The Liechtensteinische Landesbank maintains a share register containing the names of the owners of registered shares. Upon request, the purchasers of registered shares are entered in the share register as shareholders having a voting right provided that they expressly render a declaration that they have purchased these shares in their own name for their own account. If the purchaser is not prepared to render such a declaration, the Board of Directors can refuse to enter the shares with voting rights in the register. Pursuant to Art. 5a of the Statutes (www.llb.li/statutes), the Board of Directors has specified that nominee registrations without the above-mentioned declaration are generally to be made without a voting right. The legal refusal of registration in the share register on important grounds remains reserved.
2.7 Convertible bonds and options
As at 31 December 2017, the Liechtensteinische Landesbank had no bonds or convertible bonds or options on its own shares outstanding.