Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

¹ If the share cap­it­al is re­duced, the board of dir­ect­ors shall no­ti­fy the cred­it­ors that they may re­quest se­cur­ity by re­gis­ter­ing their claims. The no­tice must be pub­lished in the Swiss Of­fi­cial Gaz­ette of Com­merce. Applications to register claims must be made in writing, specifying the amount of and legal grounds for the claim.

² The com­pany must se­cure the cred­it­ors’ claims to the extent that the previous cover has been reduced by the capital reduction, provided the cred­it­ors re­quest it to do so with­in 30 days of pub­lic­a­tion in the Swiss Of­fi­cial Gaz­ette of Com­merce.

³ The ob­lig­a­tion to se­cure claims lapses if the com­pany meets the claim or proves that there is no risk that the claim will not be met as a res­ult of re­du­cing the share cap­it­al. If the audit confirmation is available, it may be presumed that there is no risk that the claim will not be met.