| Thu 27 May 2010, 12:23 | | CFR - Compagnie Financiere Richemont SA Depositary Receipts - Richemont |
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CFR
CFR
CFR - Compagnie Financiere Richemont SA Depositary Receipts - Richemont
securities AG - Dividend dates in respect of South African depository receipts
(`CFR DR`)
Compagnie Financiere Richemont SA Depositary Receipts
issued by Richemont Securities AG ("Richemont Securities or "Richemont")
(Incorporated in Switzerland)
ISIN: CH0045159024
Depositary Receipt Code: CFR
RICHEMONT SECURITIES AG - DIVIDEND DATES IN RESPECT OF SOUTH AFRICAN DEPOSITORY
RECEIPTS (`CFR DR`)
The dividend payable to holders of Richemont Securities` CFR DRs resident in the
South African Common Monetary Area (`SACMA`) is derived from the dividend paid
by Compagnie Financiere Richemont SA, Switzerland (`CFR`) to holders of
Richemont `A` shares. The CFR DR dividend payable to SACMA residents is payable
in Rand.
The Board of directors have recommended a total dividend of CHF 0.3500 per
share. It is anticipated that this dividend will be approved by shareholders of
CFR at the annual general meeting to be held on 8 September 2010 in Geneva. The
dividend payable by CFR will be subject to Swiss withholding tax of 35 per cent,
resulting in a net dividend of CHF 0.2275 per share.
As CFR DR`s trade in the ratio of 10 DRs to each Richemont `A` share, the
dividend entitlement per CFR DR is as follows:
Gross dividend per CFR DR Withholding tax at 35% Net dividend
in Swiss francs in Swiss francs in Swiss francs
Total 0.03500 (0.01225) 0.02275
The exchange rate applicable for the conversion of Swiss franc to Rand for
payment of the dividend will be confirmed in a separate announcement to be
released on SENS on Friday, 3 September 2010, being the finalisation date.
The payment dates for the dividend in respect of the South African CFR DRs are
anticipated to be as follows:
Last date to trade "cum dividend" Friday, 10 Sept 2010
Trading commences "ex-dividend" from the Monday, 13 Sept 2010
commencement of business on
CFR DR dividend record date Friday, 17 Sept 2010
CFR DR dividend payment date Monday, 27 Sept 2010
CFR DR holders may not dematerialise or rematerialise their holding of CFR DRs
between Monday, 13 September 2010 and Friday, 17 September 2010 both days
inclusive.
Richemont Securities CFR DRs are issued subject to the terms of the Deposit
Agreement dated 25 August 1988, as amended on 18 December 1992, 28 September
2001 and 7 August 2008. By holding CFR DRs, investors acknowledge that they are
bound by the terms of the Deposit Agreement. Copies of the Deposit Agreement may
be obtained by investors from Richemont Securities or Computershare.
Richemont Securities may appoint a depository agent or other parties to assist
in the administration of the depository receipt programme and may provide to
such agents such information as it deems to be appropriate, including
information relating to the identity of holders of depository receipts.
27 May 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 27/05/2010 12:23:01 Produced by the JSE SENS Department.
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