Proposal for allocation of disposable profit

Since the Board of Directors’ proposal for allocation of disposable profit, included in the Annual Report 2018, the number of registered shares eligible for dividend, at the dividend payment date of 25 April 2019, decreased due to the share buyback programme of 1 164 319 shares and transfer of 40 744 shares for employee participation purposes from not eligible to eligible for dividend. This resulted in a lower dividend of CHF 6 million, compared to the Board of Directors’ proposal, and higher voluntary profit reserves by the same amount.

The Board of Directors’ proposal to the Annual General Meeting of 17 April 2020 is based on the number of shares eligible for dividend as of 31 December 2019. The actual dividend payment will depend on the number of shares eligible for dividend as of 20 April 2020.