| Wed 10 Sep 2008, 11:30 | | RCH - Richemont Securities AG - Annual General Meeting 2008 - Decisions Of The |
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RCH
RCH
RCH - Richemont Securities AG - Annual General Meeting 2008 - Decisions Of The
Meeting
RICHEMONT SECURITIES AG
(Incorporated in Switzerland)
Share code: RCH
ISIN: CH0013157380
("Richemont")
PRESS RELEASE - 10 SEPTEMBER 2008
RICHEMONT ANNUAL GENERAL MEETING 2008 - DECISIONS OF THE MEETING
At the Annual General Meeting of Compagnie Financiere Richemont SA held today in
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 2008.
A dividend of Euro 0.060 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 15 September 2008 against presentation of
coupon number 10, free of charges but subject to Swiss withholding tax at 35 per
cent. The total dividend payable to unitholders will amount to Euro 33 601 043.
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 1.5957, is CHF 0.0957420 per Richemont
unit or CHF 53 617 185 in total. The remaining available retained earnings of
the Company at 31 March 2008 of CHF 1 413 258 700, 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 0.720 per unit will be paid by Richemont SA, Luxembourg. This will be
payable to holders of `A` and `B` units without deduction of withholding taxes
or charges, on 15 September 2008, against presentation of coupon number 11.
The total dividend for the year, payable by both entities, will therefore be
Euro 0.780 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.
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, A. Lange & Sohne and Roger Dubuis; 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 currently holds a 19.5 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: 10/09/2008 11:30:01 Produced by the JSE SENS Department.
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