| Thu 22 May 2008, 7:44 | | RCH - Richemont Securities AG - Richemont Announce |
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RCH
RCH
RCH - Richemont Securities AG - Richemont Announces Unit Buy-Back Programme
Richemont Securities AG
(Incorporated in Switzerland)
(Registration CH-170.3.013.861-6)
JSE Code: RCH
ISIN: CH0013157380
RICHEMONT ANNOUNCES UNIT BUY-BACK PROGRAMME
Richemont announces a programme to buy-back up to 10 million Richemont `A` units
through the market over the coming 2-year period. The 10 million `A` units
represent 1.74 per cent of the capital of the Group and 0.96 per cent of the
voting rights of Compagnie Financiere Richemont SA.
The `A` units to be acquired will be held in treasury in connection with awards
to executives under the Group`s stock option plan. Purchases will be effected
through both SWX Europe and the Johannesburg market at prevailing market prices,
or through the exercise of over-the-counter call options. The `A` units will not
be cancelled and no second trading line will be introduced as a consequence of
the buy-back programme.
Richemont currently holds 13.1 million `A` units, representing 2.29 per cent of
the capital of the Group and 1.26 per cent of the voting rights at the level of
Compagnie Financiere Richemont SA, in treasury as a consequence of previous buy-
back programmes, which have also been linked to the Group`s stock option plan.
In addition, Richemont holds over-the-counter call options to acquire a further
8.9 million `A` units, representing 1.55 per cent of the capital of the Group
and 0.85 per cent of the voting rights at the level of Compagnie Financiere
Richemont SA.
Richemont `A` units (Valorennummer 1273145; ISIN CH 0012731458) are included in
the SMI Swiss Market Index and are traded on the SWX Europe exchange. A total of
522 000 000 `A` units, each comprising one share of SFrs 1.00 in Compagnie
Financiere Richemont SA, Geneva and one participation certificate of no par
value issued by Richemont SA, Luxembourg are in issue. In addition, Richemont
has 52 200 000 `B` units in issue, representing 9.09 per cent of the capital and
50 per cent of the voting rights at the level of Compagnie Financiere Richemont
SA. The `B` units are held by Compagnie Financiere Rupert and are not listed.
Richemont`s audited results for the year ended 31 March 2008 were announced
earlier today. Operating profit increased by 21 per cent to Euro 1 108 million
and net profit increased by 18 per cent to Euro 1 570 million.
This announcement is for information purposes and does not constitute a listing
announcement under the terms of the Listing Requirements of SWX Swiss Exchange
nor does it constitute a listing prospectus in terms of article 652a of Swiss
Company Law.
--ENDS--
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, being 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 19.4 per cent
interest in British American Tobacco.
Richemont `A` equity units are listed on SWX Swiss Exchange and traded on SWX
Europe.
Press inquiries: Mr Alan Grieve
Director of Corporate Affairs
pressoffice@cfrinfo.net
Tel: + 41 22 721 3507
Analysts` inquiries: Ms Sophie Cagnard
Head of Investor Relations
investor.relations@cfrinfo.net
Tel: + 33 1 5818 2597
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 22/05/2008 07:44:05 Produced by the JSE SENS Department.
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