7 Change in shareholders' equity

Since the Board of Directors’ proposal for allocation of disposable profit, included in the Annual Report 2012, the number of registered shares eligible for dividend, at the dividend payment date of 17 April 2013, decreased due to the transfer of 340 411 shares for employee participation purposes from eligible to not eligible for dividend. This resulted in a lower dividend of CHF 3 million, compared to the Board of Directors’ proposal, and in higher legal reserves from capital contributions by the same amount.

Details on the proposed dividend payments for the financial year 2013 are disclosed in Proposal for allocation of disposable profit.