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.