Logitech 2013 Annual Report Download - page 220

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LOGITECH INTERNATIONAL S.A., APPLES
NOTES TO SWISS STATUTORY FINANCIAL STATEMENTS (continued)
The Swiss Federal Act on Stock Exchanges and Securities Trading of March 24, 1995 (“SESTA”) requires
shareholders who own voting rights exceeding certain percentage thresholds of a company incorporated in
Switzerland whose shares are listed on a stock exchange in Switzerland to notify the company and the relevant
Swiss exchange of such holdings. Following receipt of this notification, the company is required to inform the
public in Switzerland.
Note 8 — Movements on Retained Earnings:
During fiscal years 2013 and 2012, movements on retained earnings were as follows (in thousands):
Year ended March 31,
2013 2012
Retained earnings at the beginning of the year . . . . . . . . . . . . . . . . . . . . . . . . . CHF 460,919 CHF 507,730
Net release from (attribution to) reserve for treasury shares . . . . . . . . . . . . . . . (109,141)(51,880)
Allocation to other general reserves . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (9,580) —
Net income for the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,404 5,069
Retained earnings at the disposal of the Annual General Assembly . . . . . . . . . CHF 354,602 CHF 460,919
Note 9 — Compensation and Security Ownership of Board Members and Executive Officers:
In accordance with the Swiss Code of Obligations, the compensation and security ownership of members
of the Board of Directors of Logitech International S.A. and of Logitech executive officers is presented in the
consolidated financial statements of Logitech International S.A.
Note 10 — Risk Assessment:
A discussion of the Holding Company’s risk assessment is included in Note 16 - Other Disclosures Required
by Swiss Law in the consolidated financial statements of Logitech International S.A.
********************************
PROPOSAL OF THE BOARD OF DIRECTORS FOR APPROPRIATION OF RETAINED EARNINGS
Proposal of the Board of Directors for appropriation of retained earnings was as follows during
fiscal year 2013 (in thousands):
Year ended
March 31, 2013
Retained earnings available at the end of fiscal year 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF 354,602
Proposed dividends(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF (33,443)
Balance of retained earnings to be carried forward . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF 321,159
(1) The Board of Directors proposes distribution of a gross dividend of CHF 0.21 per share, or an aggregate of
CHF 33,443,000. This calculation estimate is based on 159,251,184 shares outstanding, net of treasury shares,
as of March 31, 2013.
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