Proposal regarding the appropriation of the balance sheet profit
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 | 2018 | 2017 | ||
Carried forward from previous year | 280.0 | 250.0 | ||
Net profit | 31.0 | 41.0 | ||
Balance sheet profit as at 31 December (at the disposal of the annual general meeting) | 311.0 | 291.0 | ||
Allocation to general statutory retained earnings | 0 | –11.0 | ||
Brought forward to new account | 311.0 | 280.0 |
Since the general statutory retained earnings exceed 50% of the share capital, there will be no further allocation.
The Board of Directors will propose to the annual general meeting of 12 April 2019 a distribution of capital of CHF 103.6 million by means of repayment of reserves from contribution of capital of CHF 6.50 per share.
CHF million | 2018 | 2017 | ||
Share capital 15,942,821 shares at a nominal value of CHF 1/CHF 50 | 15.9 | 797.1 | ||
Nominal value reduction in an amount of CHF 49 per share | 0 | –781.2 | ||
of which CHF 42.75 for allocation to the reserves from contribution of capital | 0 | –681.6 | ||
of which CHF 6.25 for distribution to shareholders | 0 | –99.6 | ||
Share capital after nominal value reduction 15,942,821 shares at a nominal value of CHF 1 | 15.9 | 15.9 | ||
Reserves from contribution of capital as at 31 December (at the disposal of the annual general meeting) | 731.3 | 49.4 | ||
Allocation from nominal value reduction | 0 | 681.6 | ||
Payment of a distribution (CHF 6.50 per share for 2018) | –103.6 | 0 | ||
Brought forward to new account | 627.7 | 731.0 |
The treasury shares of the company do not rank for distributions.
The distribution for the 2018 financial year as determined by the annual general meeting will be paid out to shareholders at the designated place of payment on or after 18 April 2019 free of charge and without deduction of withholding tax.
Baar, 12 February 2019
On behalf of the Board of Directors:
Bruno Bettoni, Chairman