At the company's 2012 annual general meeting, the company's shareholders approved a dividend in the form of a par value reduction payable in four quarterly installments. The dividend approval provides for an annual par value reduction of 1.80 Swiss francs (CHF), which was equal to US$1.96 per share, or $0.49 per quarter, at the time of the annual general meeting. The actual CHF amount for each installment, however, will be adjusted up or down to equal $0.49 near the time of payment, subject to an aggregate cap for the four installments of CHF 2.70, as further described in the company's proxy statement dated April 4, 2012.

For the third of such installments, in accordance with the shareholder approval, the par value reduction amount was fixed at CHF 0.45 based on the USD/CHF exchange rate of 0.9335 as published on December 11, 2012. Accordingly, the company adjusted its Articles of Association on December 17, 2012 to effect the par value reduction of CHF 0.45. The company's amended and restated Articles of Association became effective upon registration in the daily register of the commercial register of the Canton of Zurich, Switzerland on December 17, 2012 and, as a result, the company's par value is CHF 28.89 as of such date.

Accordingly, as expected, the company's shareholders of record at the close of business on December 17, 2012, will receive the dividend scheduled for payment on December 28, 2012. A copy of the amended and restated Articles of Association is attached hereto as Exhibit 3 and incorporated herein by reference.

(d) Exhibits

Exhibit
Number         Description
3              Articles of Association of the company, as amended and restated

4              Articles of Association of the company, as amended and restated
               (Incorporated by reference to Exhibit 3)