CFR - Compagnie Financiere Richemont SA Depositary Receipts - Richemont
CFR
CFR
CFR - Compagnie Financiere Richemont SA Depositary Receipts - Richemont
announces share buy-back programme
Compagnie Financiere Richemont SA Depositary Receipts
issued by Richemont Securities AG
(Incorporated in Switzerland)
ISIN: CH0045159024
Depositary Receipt Code: CFR
PRESS RELEASE - FOR IMMEDIATE RELEASE
RICHEMONT ANNOUNCES SHARE BUY-BACK PROGRAMME
Richemont announces a programme to buy-back up to 10 million Richemont `A`
shares through the market over the next two years, representing 1.7 per cent of
the capital and 1.0 per cent of the voting rights of Compagnie Financiere
Richemont SA.
Purchases may be effected through share purchases on SIX Swiss Exchange and the
purchase of depositary receipts on the Johannesburg market at prevailing market
prices or through the exercise of over-the-counter call options. The `A` shares
acquired will not be cancelled and no second trading line will be introduced as
a consequence of the buy-back programme. The `A` shares to be acquired will be
held in treasury to hedge awards to executives under the Group`s stock option
plan.
Richemont currently holds 20.3 million `A` shares, representing 3.5 per cent of
the capital and 1.9 per cent of the voting rights of the Company, 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 13.6 million `A` shares, representing 2.4 per
cent of the capital and 1.3 per cent of the voting rights of the Company.
Further information:
Press enquiries:
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
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Compagnie Financiere Richemont SA
50, Chemin de la Chenaie 1293 Bellevue - Geneva Switzerland
Telephone +41 (0)22 721 3500 Telefax +41 (0)22 721 3550
www.richemont.com
27 MAY 2010
Date: 27/05/2010 07:57:01 Produced by the JSE SENS Department.
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