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CFR
CFR
CFR - Richemont - Richemont Announces Completion Of Share Buy-Back Programme
Compagnie Financiere Richemont SA Depositary Receipts
issued by Richemont Securities AG
(Incorporated in Switzerland)
ISIN: CH0045159024
Depositary Receipt Code: CFR
("Richemont" or "the Company")
RICHEMONT ANNOUNCES COMPLETION OF SHARE BUY-BACK PROGRAMME
Richemont announces the completion of its extended programme to buy back 15.4
million Richemont `A` shares through the market.
A programme to buy back 10 million `A` units was announced on 22 May 2008. The
approval for an extension to buy back a further 5.4 million `A` shares over a
two-year period was received on 29 May 2009. The change from units to shares and
the extension followed from the Group`s restructuring of 20 October 2008. The
extended programme therefore allowed for the buy-back of up to 15.4 million `A`
shares over the three-year period from May 2008 to May 2011 and represented 2.68
per cent of the capital and 1.48 per cent of the voting rights of Compagnie
Financiere Richemont SA.
Purchases were effected on SIX Swiss Exchange at prevailing market prices and
through the exercise of over-the-counter call options. The `A` shares acquired
have not been cancelled and no second trading line was introduced as a
consequence of the buy-back programme. The `A` shares acquired will be held in
treasury to hedge awards to executives under the Group`s stock option plan.
Richemont currently holds in treasury 24.1 million `A` shares, representing 4.20
per cent of the capital and 2.31 per cent of the voting rights of the Company.
In addition, Richemont holds over-the-counter call options to acquire a further
13.6 million `A` shares, representing 2.37 per cent of the capital and 1.30 per
cent of the voting rights of the Company. All such shares and call options are
linked to the Group`s stock option plan.
Richemont `A` shares (Valorennummer 4503965; ISIN CH 0045039655) are traded on
SIX Swiss Exchange and are included in the SMI Swiss Market Index.
24 JULY 2009
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.
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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: 24/07/2009 07:30:03 Produced by the JSE SENS Department.
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