COMPAGNIE FINANCIÈRE TRADITION SA The Annual General Meeting of Compagnie Financière Tradition SA, Lausanne («CFT») on 18 May 2017 approved the proposal of the Board of Directors to distribute a dividend in the form of a cash dividend and a distribution of treasury shares held by CFT («dividend»).
The dividend consists of a cash payment of a gross amount of CHF 4.50 («cash dividend») per bearer share of CFT with a nominal value of CHF 2.50 («bearer share(s)») and the distribution of one bearer share for every 25 bearer shares held («stock dividend»).
CASH DIVIDEND (coupon no. 19) AmountCHF 4.50 gross respectively after deduction of the fed- eral withholding tax of 35 %
CHF 2.925 net in cash for each bearer share
Ex-dividend date22 May 2017
Payment date30 May 2017
STOCK DIVIDEND (coupon no. 20) Distribution ratioOne bearer share for every 25 bearer shares held. As this distribution ratio is calculated on the gross value of the stock dividend based on the reference share price as defined below, the federal withholding tax of 35 % due and calculated on the reference share price (i.e. CHF 1.407 per bearer share held) will be debited from the account of the shareholders with value date 30 May 2017 (please see hereinafter «reference share price and
«taxes»).
Reference share priceCHF 100.41
The reference share price corresponds to the average of the closing prices of the bearer shares on SIX Swiss Exchange for the 20 trading days preceding the date of the Annual General Meeting (i.e. from 19 April to 17 May 2017), less the gross amount of the cash dividend of CHF 4.50.
Payment of fractionsFractions of bearer shares will be settled in cash based on the reference share price. Rounding up of fractions is not possible. The payment of fractions is subject to the federal withholding tax of 35 %.
Ex-dividend date22 May 2017
Payment date30 May 2017
Procedure for shareholders For custody accounts: Shareholders do not need to take any action. The custodian bank automatically handles the payment of the dividend (cash dividend and stock dividend). For holders of share certificates: Shareholders keeping their bearer shares at home are asked to submit their coupons no. 19 to their bank to claim the cash dividend. In order to receive the stock dividend, such sharehold- ers were asked to deposit their bearer shares in a custo- dy account before the Annual General Meeting. If they failed to do so, the will receive a cash payment corre- sponding to one twenty-fifth of the reference share price for each coupon no. 20 submitted to their bank. TaxesThe dividend is subject to income tax for shareholders domiciled in Switzerland and subject to the federal withholding tax of 35 %. CFT will transfer the withhold- ing tax on the dividend to the Federal Tax Administra- tion. The stock dividend is not subject to Swiss turnover tax.
The taxable gross amount for the cash dividend is CHF 4.50 for every bearer share held and for the stock dividend CHF 4.02 (reference share price divided by 25) for every bearer share held.
Shareholders domiciled outside Switzerland will be taxed according to the applicable laws of their respec- tive country and may reclaim the federal withholding tax in accordance with any applicable double taxation agreements.
Note This notice does not constitute an issue prospectus as defined in articles 652a and 1156 of the Swiss Code of Obligations.Compagnie Financière Tradition SA | Securities No. | ISIN | Ticker symbol |
Bearer shares with a nominal value of each CHF 2.50 Date: 22 May 2017 | 1 434 511 | CH 001 434511 7 | CFT |
CFT - Compagnie Financière Tradition SA published this content on 21 May 2017 and is solely responsible for the information contained herein.
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