This excerpt taken from the SYT 20-F filed Mar 16, 2005.
Employee Share Purchase Plan
In November 2001, the Swiss Employee Share Purchase Plan was introduced for all employees of certain Swiss subsidiaries. This plan entitles employees to subscribe for shares at a discount of 50% from the closing share price on the grant date. The maximum subscription amount per employee, based on fair market value, is CHF 5,000. A total of 70,982 shares (2003: 110,022 shares, 2002: 108,199 shares) were subscribed and settled through a release of treasury shares, at a market value of approximately CHF 117.20 per share (2003: CHF 75.75 per share; 2002: CHF 86.70 per share).