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

2017

2016

Appropriation of retained earnings

 

 

 

 

 

Balance carried forward from prior year

150,745

1,671,247

Profit after tax

27,186,609

24,479,498

Total retained earnings

27,337,355

26,150,745

 

 

 

Withdrawal from free reserves

123,000,000

14,000,000

Dividend payment

150,000,000

40,000,000

Balance to be carried forward

337,355

150,745

Total appropriation of retained earnings

27,337,355

26,150,745

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

On behalf of the Board of Directors

Pascal Niquille
Chairman of the Board of Directors