1. Requirements for the issuer

Art. 10
Foundations in company law

The establishment, the articles of association or the deed of partnership of the issuer must comply with the national law to which the issuer is subject.

Art. 11
Duration

¹ The issuer must have existed as a company for at least three years.

² Exemptions, for young companies specifically, are laid down in a Directive.

See also:

• Directive Track Record (DTR)

Art. 12
Annual financial statements

The issuer must have produced annual financial statements that comply with the financial reporting standards applicable to the issuer for the three full financial years preceding the listing application.

See also:

• Directive Financial Reporting (DFR)

• Directive Complex Financial History (DCFH)

Art. 13
Auditors

¹ By appointing auditors, the issuer fulfils the requirements set out in Arts. 7 and 8 of the Federal Act on the Admission and Oversight of Auditors (AOA).

² The issuer must report any and all changes concerning its auditors immediately to SIX Exchange Regulation.

See also:

• Circular No. 1 (CIR1)

• Federal Act of 16 December 2005 on the Admission and Oversight of Auditors (Audit Oversight Act, AOA) (in German)

Art. 14
Audit report

The auditors appointed in accordance with Art. 13 must state in their report whether or not the issuer's accounts have been drawn up in compliance with the applied financial reporting standard.

See also:

• Directive Financial Reporting (DFR)

Art. 15
Capital resources

¹ On the first day of trading, the issuer's reported equity capital must be at least CHF 25 million, in accordance with the financial reporting standard used in the listing prospectus.

² If the issuer is the parent company of a group, the above requirement refers to consolidated reported equity capital.

Art. 16
Further requirements

The Regulatory Board may determine further requirements for issuers where justified by the nature of the business or by the securities that are to be listed.