Zurich, January 2019: Following the capital increase to around CHF 3.3 million, the shares of Aimondo AG were provided with the combination of Valor*, WKN**and ISIN***. This created one of the prerequisites for dematerialising the previously certified securities – i.e. those that physically existed as shares.
The shares of Aimondo AG are registered shares with voting rights, supplemented by non-voting bearer shares. The Board of Directors intends to first digitise the bearer shares (often also referred to as preference shares). As a result, part of the Aimondo shares will be held in collective safe custody. It enables transactions to be processed quickly and securely. Collective safe custody is an inexpensive, simple and secure way of storing shares, as all securities are deposited centrally with a securities clearing and deposit bank.
The global certificate plays an important role. It is a global certificate for shares and bonds which, with the exception of the actual certificates, securitizes the shareholders’ share or bond holdings or the ownership of the participation certificates. The global certificate replaces a certain number of physical certificates. As a result, these only exist electronically, comparable to funds on accounts in payment transactions. This custody of securities is also known just as custody or custody account.
In contrast to bearer participation certificates, ordinary shares are shares issued in the name of the shareholders, in which the owners are registered in the AG’s share register. They can also be transferred; the transfer of ownership is regulated by the Articles of Association of Aimondo AG. Only shareholders who are entered in the share register are deemed to be shareholders. Registered shares were chosen by Aimondo in order to ensure, as a cloud-based SaaS IT service in the complex environment of artificial intelligence, that the entrepreneurial responsibility is always carried with professional qualifications.
In principle, electronic media now also make collective safe custody possible for registered shares and do not restrict fungibility in stock exchange trading. Internationally, registered shares have become a common form of share (e.g. Registered Share in the USA). It is a prerequisite for admission to international stock exchange trading on some stock exchanges, e.g. the New York Stock Exchange (NYSE). Quite some of the German DAX companies are also registered stock corporations. At a later stage, the Board of Directors of Aimondo AG may also consider dematerializing a limited number of registered shares.
By issuing registered shares, the company can later, if the shares are publicly traded, maintain a better overview of the composition of the group of shareholders than with anonymous bearer shares. Knowing the shareholders has become more and more important for listed companies in recent years – undesirable shifts in decision-making bodies can be recognized and, if necessary, narrowed.
In return, Aimondo takes into account the interests of purely yield-oriented shareholders by rewarding the non-voting bearer securities (participation certificates) with a higher dividend entitlement.
The data of the ISIN distribution to the shares and participation certificates is as follows for Aimondo AG:
Company number CHE-243.496.194
Stock types: Registered shares / bearer participation certificates
Share capital 3’266’033
Number of shares 65,320,660
Nominal value CHF 0.05
Valor registered share 45749571
WKN Registered share A2PBQC
Valor participation certificate 45749573
WKN participation certificate A2PBQD
René Grübel, Chairman of the Board of Directors of Aimondo AG, commented on this step: “Even though the ISIN allocation by SWIX is an administrative process, it marks the achievement of an important milestone on the way to the OTC- and to the regulated market”.
Further information is available on request from the Company.
* VALOR security number
In Switzerland, the “Valorennummer”, VALOR for short, is a unique identification number for listed securities and financial instruments. The Swiss securities number is issued by SIX Telekurs.
** WKN Securities identification number
The abbreviation WKN stands for “Wertpapierkennnummer” (securities identification number), which identifies every security traded on the stock exchange in Germany. The securities identification number is also abbreviated as WPKN or WPK in some cases.
*** ISIN International Securities Identification Number
The International Securities Identification Number (ISIN) uniquely identifies each exchange-traded security. It is used in addition to national securities IDs such as Valor or WKN. The ISIN has twelve characters. For example, ISIN numbers assigned in Switzerland begin with the letters CH, followed by the national identification number. Country-specific, national identification numbers (e.g. Valor for Switzerland, WKN for Germany) are filled with zeros from the left until they contain a total of 9 characters. The last character is a check digit which helps detecting incorrect entries.
Example: The Aimondo share in Switzerland has the security number 45749571. The ISIN for the Aimondo share is CH0457495718. The country code CH for Switzerland is prefixed with a 0, followed by the security number. In this case, the check digit results in an “8” and is calculated in such a way that the individual digits are alternately multiplied by the factor 1 or 2 to form the cross total. The difference to the next number ending with “0” is calculated from the checksum, which results in the check digit.
The result: ISIN CH0457495718 and
ISIN bearer participation certificate CH0457495734Back to News