10. Treasury Shares
Audited information
|
2017 |
2016 |
||
Holdings at 1 January |
7 887 728 |
9 195 810 |
||
Shares purchased at fair market value |
— |
819 813 |
||
Shares sold on exercise of put options |
–800 000 |
— |
||
Shares sold to counterparty out of options |
–3 729 500 |
— |
||
Shares sold at fair market value |
–200 000 |
–1 240 318 |
||
Shares transferred to employees and Board of Directors |
–516 649 |
–887 577 |
||
Holdings on 31 December |
2 641 579 |
7 887 728 |
Each registered share has a par value of CHF 3.70 (2016: CHF 3.70).
In 2017 no shares were bought. The average price of shares bought in 2016 was CHF 18.26.
The average price of shares sold in 2017 was CHF 17.32 (2016: CHF 18.06).
The profit or loss from the sale of own shares is recorded in the income statement as other finance income or other expenses.