Proposal regarding the appropriation of the balance sheet profit
The Board of Directors will submit to the annual general meeting the following proposal regarding the appropriation of the balance sheet profit:
CHF million | 2016 | 2015 | ||
Carried forward from previous year | 310.0 | 290.0 | ||
Net profit | 41.7 | 28.9 | ||
Balance sheet profit as at 31 December (at the disposal of the annual general meeting) | 351.7 | 318.9 | ||
Allocation to general reserves | –101.7 | –8.9 | ||
Brought forward to new account | 250.0 | 310.0 |
The Board of Directors will propose to the annual general meeting of 21 April 2017 a distribution of capital of CHF 91.7 million by means of repayment of reserves from contribution of capital of CHF 5.75 per registered share.
CHF million | 2016 | 2015 | ||
Reserves from contribution of capital as at 31 December (at the disposal of the annual general meeting) | 141.1 | 232.7 | ||
Payment of a distribution (CHF 5.75 per share for 2016) | –91.7 | –91.6 | ||
Brought forward to new account | 49.4 | 141.1 |
The treasury shares of the company do not rank for distributions.
The distribution for the 2016 financial year as determined by the annual general meeting will be paid out to shareholders at the designated place of payment on or after 27 April 2017 free of charge and without deduction of withholding tax.
Baar, 7 February 2017
On behalf of the Board of Directors:
Bruno Bettoni, Chairman