Logitech 2014 Annual Report Download - page 303

LOGITECH INTERNATIONAL S.A., APPLES
NOTES TO SWISS STATUTORY FINANCIAL STATEMENTS (continued)
As of March 31, 2014, none of the aforementioned conditional registered shares had been issued. During fiscal
years 2014 and 2013, all employee equity incentive commitments were satisfied from treasury shares held by the
Holding Company. A description of the employee equity incentive commitments still outstanding is presented in
the consolidated financial statements of Logitech International S.A.
Note 7 — Significant Shareholders:
The Holding Company’s share capital consists of registered shares. To the knowledge of the Company, the
beneficial owners holding more than 3% of the voting rights of the Company as of March 31, 2014 were as follows:
Name
Number of
Shares(1)
% of Voting
Rights(2) Relevant Date
Daniel Borel(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,801,343 5.7% March 31, 2014
Morgan Stanley, The Corporation Trust Company(4) . . . . . . . . . 9,522,278 5.5% January 24, 2014
Marathon Asset Management LLP(5) . . . . . . . . . . . . . . . . . . . . . 5,358,296 3.1% April 5, 2013
Macquarie Group Limited(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,243,857 3.0% December 13, 2013
(1) Financial instruments other than shares are not taken into consideration for the calculation of the relevant
shareholdings.
(2) Shareholdings are calculated based on the aggregate number of voting rights entered into the Swiss commercial
register. This aggregate number was 173,106,620 voting rights as of March 31, 2014.
(3) The number of shares held includes (a) 53,000 shares held by a charitable foundation, of which Mr. Borel and
other members of his family are board members and (b) 6,500 shares held by Mr. Borel’s spouse. Mr. Borel
has not entered into any written shareholders’ agreements.
(4) The number of shares held by Morgan Stanley, The Corporation Trust Company through its indirect
subsidiaries is based on a notification filed with the SIX Exchange Regulation on February 4, 2014.
(5) The number of shares held by Marathon Asset Management LLP is based on a notification filed with the SIX
Exchange Regulation on April 11, 2013.
(6) The number of shares held by Macquarie Funds Limited through its indirect subsidiaries is based on a
notification filed with the SIX Exchange Regulation on December 28, 2013.
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 2014 and 2013, movements on retained earnings were as follows (in thousands):
Year ended March 31,
2014 2013
Retained earnings at the beginning of the year . . . . . . . . . . . . . . . . . . . . . . . . . CHF 354,602 CHF 460,919
Net release from (attribution to) reserve for treasury shares . . . . . . . . . . . . . . . 67,584 (109,141)
Allocation to other general reserves . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (9,580)
Dividend Paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (33,713) —
Net income for the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,064 12,404
Retained earnings at the disposal of the Annual General Assembly . . . . . . . . . CHF 458,537 CHF 354,602
287
ANNUAl REPORT