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Capital structure

As of March 31, the capital of Sonova Holding AG comprised the following:

  2016      2015  2014
Ordinary capital (in CHF) 3,331,319 3,358,664 3,358,664
Total shares 66,626,387 67,173,287 67,173,287
Authorized capital (in CHF) n.a. n.a. n.a.
Authorized shares n.a. n.a. n.a.
Conditional capital (in CHF) 266,107 266,107 266,107
Conditional shares 5,322,133 5,322,133 5,322,133

Changes in capital

Of the 8,000,000 maximum approved conditional shares a total of 5,978,987 shares with a par value of CHF 0.05 each were issued prior to FY 2015 / 16. Starting in FY 2014 / 15 Sonova decided to purchase shares on the market to fulfill its obligations under the long-term incentive plans and not to issue shares out of the conditional share capital. The maximum conditional share capital reserved for long-term incentive plans therefore remained unchanged at 2,021,013 shares.

The conditional share capital of 3,301,120 registered shares, which was created on July 7, 2005 in order to increase the company’s financial flexibility, has not yet been used.

The AGM 2015 approved a reduction of the share capital by CHF 27,345 through cancellation of 546,900 registered shares. This capital reduction was the result of the share buyback program as further outlined below, in which the Company repurchased 546,900 registered shares between December 1, 2014, to March 31, 2015.

Shares and participation certificates

Swiss stock exchange (SIX Swiss Exchange) since November 1994. The General Shareholders’ Meeting of July 5, 2001, approved a capital reduction and a repayment of CHF 15 on the par value per share. At the same time, the shareholders approved a 1:100 stock split. This reduced the par value of Sonova registered shares from CHF 20 to their current value of CHF 0.05. With the exception of the treasury shares held by the company itself, each share represents one vote at the General Shareholders’ Meeting and is entitled to dividend payments.

The following overview shows the treasury shares held by the company as of March 31:

  2016 2015
Second trading line 1,203,500 546,900
Total owned shares 1,209,989 547,313

Sonova Holding AG has not issued any participation certificates.

Profit-Sharing Certificates

Sonova Holding AG has not issued any profit-sharing certificates.