| Ad hoc announcement pursuant to Article 53 of the Six Exchange Regulation Listing Rules | |
| Lausanne, 23 May 2022 |
Stock dividend proposed at the Annual General Meeting
on May 24, 2022
In accordance with and subject to the proposal of the Board of Directors, published in the Swiss Official Gazette of Commerce on April 29, 2022 in connection with the Annual General Meeting of Compagnie Financière Tradition SA to be held on May 24, 2022 at 3.30 pm to approve the company and group accounts for the 2021 financial year.
The Board has proposed the dividend consists (i) of a cash payment of a gross amount of CHF 5.00 («cash dividend») per bearer share of CFT with a nominal value of CHF 2.50 («bearer share(s)») and (ii) the distribution of one bearer share for every 200 bearer shares held («stock dividend A») to be deducted from the reserve from capital contribution, and (iii) one bearer share for every 200 shares held (“stock dividend B”) to be deducted from the general reserve
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 26 April to 23 May 2022), less the gross amount of the cash dividend of CHF 5.00, i.e. CHF 105.23.
The taxable gross amount for the cash dividend is CHF 5.00 for every bearer share held and for the stock dividend B CHF 0.53 (reference share price divided by 200) for every bearer share held. The stock dividend A is not subject to the federal withholding tax.
The AGM of CFT on 24 May will resolve on stop issuing physical dividend vouchers (coupons) on bearer shares. Going forward, dividends on bearer shares may only be paid through the banking system if bearer shares are held as book-entry securities.
Most holders currently already hold their bearer shares as book-entry securities in a securities account with their bank. Only very few holders still hold their bearer shares in physical form outside the banking system. Holders who already keep their bearer shares in a securities account with their bank are not affected by the proposed change and do not need to act.
Holders who keep their bearer shares outside the banking system are asked to deliver their bearer shares (including remaining coupons, if any) to their bank of choice as soon as practicable, but no later than by May 25, 2022, in order to book the bearer shares into their existing securities account, or one to be opened prior to the next dividend payment.
For bearer shares, which are not held as book-entry security by May 30, 2022, which is the record date for the financial year 2021 dividend, the dividend on bearer shares for financial year 2021 (as well as any other future dividends, if any) will not automatically be serviced through the banking system but only according to the applicable requirements of Swiss securities law. Holders of bearer shares held in physical form should be aware that unpaid dividends become time-barred within five years.
Compagnie Financière Tradition SA is one of the world's largest interdealer brokers in over-the-counter financial and commodity related products. Represented in over 30 countries, Compagnie Financière Tradition SA employs more than 2,400 people globally and provides broking services for a complete range of financial products (money market products, bonds, interest rate, currency and credit derivatives, equities, equity derivatives, interest rate futures and index futures) and non-financial products (energy and environmental products, and precious metals). Compagnie Financière Tradition SA (CFT) is listed on the SIX Swiss Exchange.
For more information, please visit www.tradition.com.
Patrick Combes, President | Rohan Sant | |
| Compagnie Financière Tradition SA | Voxia communication | |
| +41 (0)21 343 52 87 | +41 (0)22 591 22 63 | |
| actionnaire@tradition.ch | rohan.sant@voxia.ch |
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