[28] Equity
Subscribed capital and capital reserves
As at December 31, 2021, the Company’s share capital amounted to €131.2 million, which was unchanged on the figure a year earlier and was fully paid up. It was divided into 131,198,647 no-par-value shares.
With the consent of the Supervisory Board, the Executive Board of KION GROUP AG had decided on November 18, 2020 to utilize the remaining authorized capital created by the 2017 Annual General Meeting and most of the authorized capital created by the 2020 Annual General Meeting. The share capital was increased against cash contributions by issuing 13,108,647 new no-par-value bearer shares. The gross proceeds from the capital increase came to €813.3 million. An amount of €800.2 million was paid into the capital reserves. The capital increase was entered in the commercial register on December 7, 2020. Consequently, the Executive Board is currently authorized by the Annual General Meeting held on July 16, 2020 to increase the Company’s share capital by up to €0.3 million by issuing up to 279,353 new no-par-value bearer shares for cash (2020 Authorized Capital).
The total number of shares outstanding as at December 31, 2021 was 131,102,423 no-par-value shares (December 31, 2020: 131,086,470 no-par-value shares). Due to the issue of 15,953 bonus shares under KEEP 2018 (KEEP 2017: 11,129 bonus shares), KION GROUP AG held 96,224 treasury shares at the reporting date (December 31, 2020: 112,177). These treasury shares are not dividend-bearing and do not confer any voting rights. Further details on the KEEP Employee Equity Program can be found in note [46].