Proposal of the Board of Directors for the appropriation of the available earnings

(in CHF 1 000) 2012 2011
Net profit 104 082 123 663
Carried forward from previous year 744 845 683 178
Change in reserve of treasury shares (3 715) (27 950)
Profit available to the Annual General Meeting 845 212 778 891
Dividend paid out of the available earnings (CHF 2.20 per share)   (34 046)
Balance carried forward   744 845
Dividend paid out of the 'reserves from capital contribution' (CHF 1.55 per share)   (23 987)

The Board of Directors proposes to the Shareholders’ General Meeting that a total dividend of CHF 3.75 per share be distributed, payable as of 12 April 2013. Calculated based on the total number of outstanding shares of 15 441 259, this corresponds to a total amount of CHF 57.9 million. In deciding on the appropriation of dividends, the Shareholders’ General Meeting shall take into account that the Company will not pay a dividend on treasury shares held by the Company.

Until the time of the Shareholders’ General Meeting, 204 766 free options could be exercised and converted into shares. The maximum dividends related to such options if exercised would be CHF 0.8 million.

The remaining amount of the available earnings is to be carried forward.