Proposal for the appropriation of earnings
at the general meeting

The Board of Directors proposes that the retained earnings be appropriated as follows:

In CHF

2016

2015

Appropriation of retained earnings

 

 

 

 

 

Balance carried forward from prior year

1,671,247

(787,597)

Profit after tax

24,479,498

22,458,844

Total retained earnings

26,150,745

21,671,247

 

 

 

Withdrawal from free reserves

14,000,000

0

Dividend payment

40,000,000

20,000,000

Balance to be carried forward

150,745

1,671,247

Total appropriation of retained earnings

26,150,745

21,671,247

As the general reserves reached 20% of the share capital, no further allocation is made.

On behalf of the Board of Directors

Dr Pierin Vincenz
Chairman of the Board of Directors