Corporate Governance

10. Blackout periods

To prevent insider dealing or suspicion of insider dealing and ensure equal chances for investors, the following persons are prohibited from dealing in Zehnder Group securities from 1 December onwards until 24 hours after the publication of the annual financial statements and from 1 June onwards until 24 hours after publication of the semi-annual financial statements:

• Members and, if specified, the secretary of the Board of Directors of Zehnder Group AG and Zehnder Group International Ltd;
• Members of the Executive Boards of Zehnder Group AG and Zehnder Group International Ltd;
• Internal and external employees of Zehnder Group AG and Zehnder Group International Ltd who assist in the production of the semi-annual and annual financial statements.

These general blackout periods also apply to the Zehnder Group itself. The sale and purchase of proprietary shares (e.g. as part of the employee shareholding plan) must take place outside blackout periods.

Pre-trading plans (i.e. sales and purchase programmes for which transactions, fixed dates or periods have been agreed beforehand with the bank or a securities trader prior to the start of the blackout periods) that were initialised prior to the blackout periods are permitted to run on without change.