Capital structure since 1993
In December 1986, bearer participation certificates having a nominal value of CHF 20 million were issued to private investors for the first time. On January 4, 1993, the Liechtensteinische Landesbank was converted into a public limited company (Aktiengesellschaft). Prior to this historical date, our company had the legal form of an independent institute under public law. The following table shows how the bank's capital structure and the Principality's equity stake in the bank have changed over the years.
| Year | Capital structure | Principality's equity stake |
|---|---|---|
| 1993 | Conversion of the Liechtensteinische Landesbank into a public limited company (Aktiengesellschaft) having a share capital of CHF190 million divided into 3'800'000 bearer shares having a par value of CHF 50.− each. | 84.2 % |
| 1998 | Placing of 300'000 bearer shares. | 76.3 % |
| 1999 | Exercising of options on 300'000 bearer shares. | 68.4 % |
| 2000 | Placing of 400'000 bearer shares. | 57.9 % |
| 2001 | Repurchase of 200'000 shares and reduction of the share capital to CHF 180 million, divided into 3'600'000 bearer shares having a par value of CHF 50.− each. | 61.1 % |
| 2002 | Repurchase of 160'000 shares and reduction of the share capital to CHF 172 million, divided into 3'440'000 bearer shares having a par value of CHF 50.− each. | 64.0 % |
| 2003 | Repurchase of 160'000 shares and reduction of the share capital to CHF 164 million, divided into 3'280'000 bearer shares having a par value of CHF 50.− each. | 67.1 % |
| 2006 | On 28 March 2006, the Liechtensteinische Landesbank acquired 230'000 bearer shares from the Principality of Liechtenstein. The shares serve as security for a five-year convertible bond issue made by the LLB. The bonds are convertible into LLB bearer shares. The total volume of the convertible bond issue amounts to CHF 270 million. After this transaction, the Principality of Liechtenstein still holds 1'970'000 of the total of 3'280'000 shares having a par value of CHF 50.− each. | 60.1 % |
| 2006 | On 4 May 2006, the LLB purchased 200'000 shares from the Principality of Liechtenstein for the purpose of carrying out a capital reduction. Following this transaction, the Principality of Liechtenstein still owns 1'770'000 of the total capital stock of 3'280'000 shares having a par value of CHF 50.− each. | 54.0 % |
| 2007 | At the General Meeting on 4 May 2007, the LLB's shareholders approved the reduction of the LLB's share capital by the 200'000 shares repurchased last year from the Principality of Liechtenstein. The General Meeting of Shareholders held on 4 May 2007 also resolved to split the LLB bearer share in a ratio of 1:10. The split LLB share got traded on 10 May 2007 for the first time on the SIX Swiss Exchange. The LLB's share capital now comprises 30'800'000 bearer shares having a par value of CHF 5.− each with a total of CHF 154 million. The Principality of Liechtenstein owns 17'700'000 shares. | 57.5 % |
| 2017 | The 25th Ordinary General Meeting of Shareholders on 12 May 2017 decided to convert the existing, publicly listed bearer shares into registered shares with the same par value. The exchange of shares was executed on Thursday, 18 May 2017, at a ratio of 1:1. The LLB's share capital now comprises 30'800'000 registered shares having a par value of CHF 5.− each with a total of CHF 154 million. The Principality of Liechtenstein owns 17'700'000 shares. | 57.5 % |
| 2022 | On 13 May 2022, the Liechtensteinische Landesbank acquired 363'785 LLB shares from the Principality of Liechtenstein in connection with a public tender offer to Bank Linth shareholders to buy their Bank Linth shares. After this transaction, the Principality of Liechtenstein still owns 17'336'215 of the total of 30'800'000 LLB shares with a par value of CHF 5. | 56.3 % |
