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Proposed appropriation of available earnings

PROPOSED APPROPRIATION OF AVAILABLE EARNINGS

In CHF 1,000

31.12.2017

31.12.2016

Profit brought forward from prior year

28,914

Profit for the year

463

28,914

Retained earnings available for Annual General Meeting

29,377

28,914

The Board of Directors proposes to the Annual General Meeting that the balance be carried forward to the new accounts

 

 

Balance to be carried forward

29,377

28,914

Payout from statutory capital contribution reserve

The Board of Directors proposes to the Annual General Meeting an appropriation from statutory capital contribution reserves to voluntary retained earnings and a payout of CHF 2.35 per registered share amounting to CHF 30,080,0001).

In CHF 1,000

2017

2016

Statutory capital contribution reserves before distribution

112,619

142,699

Reclass to other capital reserves 2)

–98

Appropriation from statutory capital reserves to voluntary retained earnings

–30,080

–30,080

Statutory capital contribution reserves after distribution

82,441

112,619

 

 

 

Distribution 1)

 

 

Gross distribution per registered share: CHF 2.35 (2016: CHF 2.35)

 

 

on 12,780,000 shares entitled to distribution at 31 December 2017 (2016: 12,800,000)

30,033

30,080

on 20,000 treasury shares set aside for the employee share plan at 31 December 2017 (2016: ─)

47

Less withholding tax

Net distribution

30,080

30,080

1) The Company will waive its entitlement to such payments from the statutory capital contribution reserves for the treasury shares held on the distribution date which are reserved for use in its employee share plan. The amount due on these shares will be taken to the statutory capital contribution reserves.

2) The capital contribution reserve confirmed by Federal Tax Administration in 2017 amounted CHF 142,601,180.50 as of 1 January 2017.