| Thu 13 Sep 2007, 11:30 | | RCH - Richemont Securities AG - Decisions of the m |
|
RCH
RCH
RCH - Richemont Securities AG - Decisions of the meeting
RICHEMONT SECURITIES AG
(Incorporated in Switzerland)
Share code: RCH
ISIN: CH0013157380
("Richemont")
RICHEMONT ANNUAL GENERAL MEETING 2007
DECISIONS OF THE MEETING
At the Annual General Meeting of Compagnie Financiere Richemont SA held today in
Bellevue, Geneva, the shareholders approved the results for the year, including
the proposals of the board of directors for the appropriation of retained
earnings at 31 March 2007.
A dividend of Euro 0.054 per Richemont unit will be paid to unitholders on the
share capital of Compagnie Financiere Richemont SA. The dividend will be payable
to holders of `A` and `B` units on 17 September 2007 against presentation of
coupon number 8, free of charges but subject to Swiss withholding tax at 35 per
cent. The total dividend payable to unitholders will amount to Euro 30 272 912.
No dividend will be paid on units held in treasury by the Group.
The Swiss franc equivalent of the dividend for the purposes of with-holding
taxes, calculated at the Euro/Swiss franc exchange rate prevailing as at the
time of the Annual General Meeting of 1.6446, is CHF 0.0888084 per Richemont
unit or CHF 49 786 831 in total. The remaining available retained earnings of
the Company at 31 March 2007 of CHF 1 081 579 829, after payment of the
dividend, will be carried forward to the next business year.
In addition to the Compagnie Financiere Richemont SA payment, a dividend of Euro
1.196 per unit will be paid by Richemont SA, Luxembourg. This consists of an
ordinary dividend of Euro 0.596 and a special dividend of Euro 0.60 per unit and
will be payable to holders of `A` and `B` units without deduction of withholding
taxes or charges, on 17 September 2007, against presentation of coupon number 9.
The total dividend for the year, payable by both entities, will therefore be
Euro 1.25 per unit, before deduction of withholding tax.
All other matters on the agenda were approved by the shareholders. All the
serving members of the board of directors were re-elected and, in addition, Mrs
Anson Chan was elected to the Board.
Richemont holds a portfolio of several of the most prestigious names in the
luxury goods industry including Cartier, Van Cleef & Arpels, Piaget, Vacheron
Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill and Montblanc. In addition to
its luxury goods interests, Richemont holds a significant investment in British
American Tobacco - one of the world`s leading tobacco groups.
www.richemont.com
Richemont owns a portfolio of leading international brands or `Maisons`, which
are managed independently of one another, recognising their individuality and
uniqueness. The businesses operate in five areas: Jewellery Maisons, being
Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of
Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine
Panerai and A. Lange & Sohne; Writing instrument Maisons - Montblanc and
Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel;
and Other businesses, which includes, specifically, Chloe as well as other
smaller Maisons and watch component manufacturing activities for third parties.
In addition to its luxury goods business, Richemont holds a 19.2 per cent
interest in British American Tobacco.
Press inquiries:
Mr Alan Grieve, Director of Corporate Affairs
Tel: + 41 22 721 3507
Analysts` inquiries:
Ms Sophie Cagnard, Head of Investor Relations
Tel: + 33 1 5818 2597
Compagnie Financiere Richemont SA
50, Chemin de la Chenaie CH-1293 Bellevue - Geneva Switzerland
Telephone +41 (0)22 721 3500 Telefax +41 (0)22 721 3550
www.richemont.com
Date: 13/09/2007 11:30:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
