The Board of Directors intends to execute the share buyback programme at a fixed price approved by the Annual General Meeting as of 14 May 2018. Further it has set the price for the intended share buyback programme at CHF 17.50 per registered share. The decision of the Board of Directors and the implementation of the programme are subject to the condition that major investors commit themselves to tender registered shares. The share buyback programme has been approved by the Swiss Takeover Board, subject to the commitments by major investors. Further details will be communicated in the next few days.