Notes to the Consolidated Financial Statements
1. Basic information
2. Changes in Group structure
3. Summary of significant accounting policies
4. Risk assessment and management
5. Management of capital
6. Trade accounts receivable
7. Other current assets and current financial assets
9. Property, plant and equipment
10. Other non-current assets and non-current financial assets
11. Goodwill and intangible assets
12. Short-term debt
13. Other current liabilities and provisions
14. Long-term debt
15. Financial instruments
16. Retirement benefit plans
17. Participation plans
18. Deferred tax assets and liabilities
19. Other non-current liabilities and provisions
21. Capital stock and treasury shares
The share capital of Geberit AG consists of 37,041,427 ordinary shares with a par value of CHF 0.10 each.
On 30 April 2020, Geberit AG concluded its share buyback programme started on 6 June 2017. By 30 April 2020, 1,026,094 shares had been repurchased for a total value of MCHF 439.8. This corresponds to 2.77% of the share capital currently entered in the Commercial Register. The shares were repurchased via a separate trading line on the SIX Swiss Exchange for the purpose of a capital reduction.
On 17 September 2020, Geberit AG launched the share buyback programme that it had announced on 10 March 2020. Shares in an aggregate amount of up to MCHF 500.0 will be repurchased over a maximum period of two years. Based on the closing price of Geberit registered shares on 31 December 2020, this corresponds to around 900,000 registered shares or 2.4% of the share capital currently entered in the Commercial Register. The shares will be repurchased via a separate trading line on the SIX Swiss Exchange for the purpose of a capital reduction. As at 31 December 2020, 94,700 shares had been repurchased for a total value of MCHF 51.4.
It is planned to ask the General Meeting of 14 April 2021 to approve a capital reduction matching the number of shares bought back under both programmes up until the end of February 2021 and to subsequently cancel the shares.
|Stock of treasury shares|
|From share buyback programmes||1,120,794||764,551|
|Other treasury shares||295,040||269,572|
|Total treasury shares||1,415,834||1,034,123|
The entire stock of treasury shares on 31 December 2020 amounted to 1,415,834 (PY: 1,034,123) with a carrying amount of MCHF 624.0 (PY: MCHF 433.4). Treasury shares are deducted from equity at historical cost.
For transactions in connection with the participation plans, see Note 17.