4. Capital Structure
As of 31 December 2017, the fully paid nominal share capital of Clariant Ltd totaled CHF 1 228 175 036.30 and was divided into 331 939 199 registered shares, each with a par value of CHF 3.70. Clariant Ltd shares are listed on the SIX Swiss Exchange since 1995 (symbol: CLN, ISIN CH0012142631). Clariant Ltd does not issue non-voting equity securities (Genussscheine or Partizipationsscheine). Based on the closing price of the Clariant share of CHF 27.25 on 31 December 2017, the company’s market capitalization at year-end amounted to CHF 9.045 billion.
4.2. Conditional capital
The company’s share capital may be increased by no more than CHF 14 103 978.20 by issuing the remaining 3 811 886 registered shares each with a par value of CHF 3.70.
The details are set out in article 5 of the Articles of Association. The Articles of Association can be found on our website.
4.3. Distribution of capital reserves
In the 2017 calendar year, a distribution of CHF 0.45 per share from capital reserves was decided by the Annual General Meeting. The total amount of CHF 147 884 425.20 was paid out on 27 April 2017. A table with additional information on the distribution of capital reserves can be found in Note 16 of the Financial Report of the Integrated Report 2017.
4.4. Transferability of shares
The transfer of registered shares requires the approval of the Board of Directors that may delegate this function. Approval is granted if the acquirer discloses his/her identity and confirms that the shares have been acquired in his/her own name and for his/her own account.
4.5. Nominee registrations and voting rights
Each registered share entitles the holder to one vote at the Annual General Meeting. Special rules according to Article 6 of the Articles of Association apply to nominees who fail to disclose the identity of the persons they represent and whose shareholding exceeds 2%.
The Clariant option program for employees was terminated in 2013, and the last outstanding options expired in 2017, thus no options were outstanding as of 31 December 2017. See also Note 30, »Employee Participation Plans« of the Financial Report of the Integrated Report 2017. Further information on the Clariant share can be found in chapter 1.4. Stock market 2017 of the Integrated Report 2017.