Board of Directors’ proposal for the appropriation of retained earnings and distribution from distributable paid-in capital

At the Annual Shareholder Meeting the Board of Directors will propose the following appropriation of retained earnings:

01 Proposal for appropriation of 2018 retained earnings

At the Annual Shareholder Meeting the Board of Directors will propose the following appropriation of retained earnings:

In thousands of CHF

2018

Earnings brought forward

89,323

Transfer from distributable paid-in capital reserve

Net income for the year

17,156

Retained earnings available for distribution

106,479

Earnings carried forward

106,479

02 Proposal for payment of a dividend

At the Annual Shareholder Meeting the Board of Directors will propose a total distribution of CHF 1.20 per share in an aggregate amount of CHF 9.3 million. Provided it is approved, the distribution will result in the following movement in the distributable paid-in capital reserve and in retained earnings:

Distribution from distributable paid-in capital

At the Annual Shareholder Meeting the Board of Directors will propose a distribution of CHF 1.00 per share from distributable paid-in capital.

In thousands of CHF

2018

Distributable paid-in capital reserve at December 31, 2018

8,434

Payout of CHF 1.00 per share (prior year: CHF 1.50)

(7,760)

Distributable paid-in capital reserve after proposed payout

674

Distribution from retained earnings

At the Annual Shareholder Meeting the Board of Directors will further propose a distribution of CHF 0.20 per share from retained earnings.

In thousands of CHF

2018

Retained earnings at December 31, 2018

106,479

Payout of CHF 0.20 per share (prior year: nil)

(1,552)

Retained earnings after proposed payout

104,927

Provided these proposals are approved, the total distribution of CHF 1.20 per entitled share will be paid on May 2, 2019.