Board’s recommendation to shareholders

Recommendation on the appro-
priation of reserves

Movements in earnings available

in CHF thousand

2021

2020

Balance brought forward from prior year

14 335

52 553

Appropriation of reserves available for distribution by resolution of the General Meeting

Release from capital contribution reserve

4 200

0

Distribution to shareholders

– 10 800

0

To legal retained earnings

0

0

To voluntary retained earnings

– 7 735

– 52 553

Profit/Loss for the year

– 46 579

14 335

Earnings available at end of year

– 46 579

14 335

Board’s recommendation to shareholders on the appropriation of reserves

in CHF thousand

2021 Board recommendation

2020 Board recommendation

Earnings available

– 46 579

14 335

Release from capital contribution reserve

0

4 200

Distribution to shareholders

– 7 800

– 10 800

Transfer to/Release from voluntary retained earnings

54 379

– 7 735

Balance of earnings to be carried forward

0

0

Distribution proposal

The Board of Directors will propose to the Ordinary General Meeting of 17 March 2022 that a distribution be awarded to shareholders of CHF 1.30 per share through a release from voluntary retained earnings.

For the 2020 financial year, the Ordinary General Meeting resolved that a distribution be awarded to shareholders of CHF 1.80 per share. Of this amount, CHF 1.10 per share derived from earnings available and CHF 0.70 per share from a release from the capital contribution reserve.

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