| Mon 20 Oct 2008, 17:45 | | RCH/REI - Richemont Securities AG/Reinet Investments SCA - Richemont |
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RCH
RCH
RCH/REI - Richemont Securities AG/Reinet Investments SCA - Richemont
restructuring effective as of 20 October 2008
Compagnie Financiere Richemont SA
50 chemin de la Chenaie
1293 Bellevue, Geneva
Switzerland
Reinet Investments SCA
35 boulevard Prince Henri
L 1724 Luxembourg
Luxembourg
RICHEMONT RESTRUCTURING EFFECTIVE AS OF 20 OCTOBER 2008
Compagnie Financiere Richemont SA (`CFR`) and Reinet Investments SCA (`Reinet`)
are pleased to confirm that the previously announced detwinning of CFR shares
and Richemont SA participation certificates has been effected as at the close of
trading today, 20 October 2008.
As a consequence, the de-twinned CFR `A` shares will begin trading on SWX Europe
Limited with effect from the opening of trading tomorrow, 21 October 2008.
South African Depositary Receipts in respect of CFR `A` shares will be traded on
the Johannesburg stock exchange from 09:00 (CET and SAST) on Tuesday, 21 October
2008.
In conjunction with the de-twinning, participation certificates issued by
Richemont SA have been converted into ordinary shares and Richemont SA has
changed its legal form and name to become Reinet Investments SCA (a partnership
limited by shares). It is envisaged that the new shares in Reinet will begin
trading on the Luxembourg Stock Exchange at midday (CET and SAST) tomorrow, 21
October 2008.
Similarly, it is envisaged that South African Depositary Receipts in respect of
Reinet ordinary shares will be traded on the Johannesburg stock exchange from
midday (CET and SAST) on Tuesday, 21 October 2008. Further information
regarding each of the securities is set out in the Appendix to this
announcement.
Following the implementation of the de-twinning, the restructuring process will
continue with the distribution of British American Tobacco plc ordinary shares
to investors in Reinet on or around 3 November 2008.
Further information in respect of the restructuring is available in the
Information Memorandum published on 15 August 2008 and the Reinet listing
prospectus published on 10 October 2008. Both documents may (subject to certain
restrictions) be downloaded from the Richemont website (www.richemont.com) and
the Reinet website (www.reinet.com).
20 OCTOBER 2008
Further information:
Press Mr Alan Grieve Analysts` Ms Sophie Cagnard
enquiries: inquiries:
Director of Corporate Head of Investor
Affairs Relations
Tel: +41 22 721 3507 Tel. +33 1 5818
2597
Limitations of this announcement
This announcement is not intended for distribution to, or use by any person or
entity in any jurisdiction or country where such distribution or use would be
contrary to local law or regulations. This announcement does not constitute nor
does it form part of any offer or invitation to buy, sell, exchange or otherwise
dispose of, or issue, or any solicitation of any offer to sell or issue,
exchange or otherwise dispose of, buy or subscribe for, any securities, nor does
it constitute investment, legal, tax, accountancy or other advice or a
recommendation with respect to such securities, nor does it constitute the
solicitation of any vote or approval in any jurisdiction, nor shall there be any
offer or sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the applicable securities laws of any such jurisdiction (or under
exemption from such requirements).
In particular, the information contained herein does not constitute an offer of
securities for sale in the United States. None of the securities described or
directly or indirectly referred to in this announcement have been and nor will
they be registered under the US Securities Act of 1933, as amended (the
"Securities Act"). Such securities may not be offered or sold in the United
States or to, or for the account or benefit of, US persons (as such terms are
defined in Regulation S under the Securities Act) unless registered under the
Securities Act or pursuant to an exemption from such registration. If and to
the extent that any such securities may be deemed to be offered or sold as a
result of the transactions described in this announcement, such securities are
being offered and sold only to persons in offshore transactions outside the
United States in accordance with Regulation S under the Securities Act. This
announcement has not been and may not be disseminated or distributed by any
person in the United States or to US persons.
Neither Reinet Investments SCA nor Reinet Fund SCA, FIS have been approved by
the Swiss Federal Banking Commission as a foreign collective investment scheme
pursuant to Article 120 of the Swiss Collective Investment Schemes Act of 23
June 2006.
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 manufacturers -
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.
Reinet Investments SCA acts as a securitisation vehicle allowing investors to
access Reinet Fund SCA, FIS, a specialised investment fund established in
Luxembourg. Reinet Fund SCA, FIS will invest with the objective of capital
growth over the long term. The initial assets of the fund will include a
significant interest in British American Tobacco plc.
Appendix
Ticker/Security
number/ISIN
CFR `A` shares
Market SIX Swiss Exchange
Ticker symbol CFR
Swiss Valorennummer 4.503.965
ISIN CH0045039655
CFR Depositary Receipts
Market Johannesburg Stock
Exchange
JSE Depositary Receipt Code CFR
ISIN CH0045159024
Swiss Valorennummer 4.515.902
Reinet Investments SCA shares
Market Luxembourg Stock
Exchange
Symbol ReinetInvest
Luxembourg common code 38381229
ISIN LU0383812293
Swiss Valorennummer 4.503.016
Reinet Investments SCA Depositary Receipts
Market Johannesburg Stock
Exchange
JSE Depositary Receipt Code REI
ISIN (to 27 October 2008) (Note 1) CH0045159214
ISIN (from 28 October 2008) (Note 1) CH0045793657
Swiss Valorennummer (unchanged) 4.515.921
Note 1
From the commencement of trade on the Johannesburg exchange on Tuesday, 28
October 2008, 86.31126 per cent of a Reinet DR holder`s holding of Reinet DRs
will be `blocked` in anticipation of their cancellation pursuant to the Reinet
Reduction of Capital and the distribution of British American Tobacco plc shares
to Reinet DR holders.
In order to allow Reinet DR holders to trade their `available` Reinet DRs and to
ensure that Reinet DR holders do not trade their `blocked` DRs, the `available`
Reinet DRs will commence trading under the new ISIN number CH0045793657 from
09:00 (SAST) on Tuesday, 28 October 2008.
Date: 20/10/2008 17:45:11 Produced by the JSE SENS Department.
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