Appropriation of Available Earnings
Audited informationThe Board of Directors proposes to appropriate the profit of 2020 of Clariant Ltd in the amount of CHF 271 260 385 as follows.
Annual result |
|
in CHF |
|---|---|---|
Carried forward from previous year |
|
— |
Profit for the year 2020 |
|
271 260 385 |
Total available earnings |
|
271 260 385 |
|
|
|
Appropriation |
|
in CHF |
Voluntary retained earnings as at Dec. 31, 2020 |
|
865 920 811 |
Transfer to voluntary retained earnings |
|
271 260 385 |
Voluntary retained earnings as at Jan. 1, 2021 |
|
1 137 181 196 |
Balance to be carried forward |
|
0 |
Proposed distribution through capital reduction by way of a par value reduction
The Board of Directors proposes (in place of a dividend) a distribution through capital reduction by way of a par value reduction of CHF 0.70 per registered share, as a result of a reduction of the par value from CHF 3.70 to CHF 3.00 per registered share. The proposed payout would reduce the share capital by CHF 232 357 439.30.
The proposed payout of the par value reduction of CHF 0.70 is subject to approval by the ordinary General Meeting of shareholders and subject to the fulfillment of the necessary requirements and the entry of the share capital reduction in the Commercial Register of the Canton of Baselland.
If approved by the Annual General Meeting the payment will be made as soon as practicable, following the expiry of the two-month-period pursuant to article 733 Swiss Code of Obligations and the subsequent registration of the share capital reduction in the Commercial Register.