| Thu 19 May 2011, 7:31 | | CFR - Compagnie Financiere Richemont SA Depositary Receipts - Richemont |
|
CFR
CFR
CFR - Compagnie Financiere Richemont SA Depositary Receipts - Richemont
announces extension of share buy-back programme
Compagnie Financiere Richemont SA Depositary Receipts
issued by Richemont Securities SA
(Incorporated in Switzerland)
ISIN: CH0045159024
Depositary Receipt Code: CFR
PRESS RELEASE - FOR IMMEDIATE RELEASE
19 MAY 2011
RICHEMONT ANNOUNCES EXTENSION OF SHARE BUY-BACK PROGRAMME
Basis and purposes of the buy-back programme
On 27 May 2010, Compagnie Financiere Richemont SA, Bellevue, Geneva (`CFR`)
announced a programme envisaging the buy-back of 10`000`000 of its own `A`
bearer shares over a two year period, representing 1.74 per cent of the
capital and 0.96 per cent of the voting rights of the company. To 18 May 2011,
4`658`509 `A` bearer shares had been repurchased within the scope of this
programme, representing 0.81 per cent of the capital and 0.45 per cent of the
voting rights of the company.
On 18 May 2011, the Board of Directors of CFR decided to extend the buy-back
programme by an additional 5`000`000 `A` bearer shares. The extended buy-back
programme thus amounts to 15`000`000 `A` bearer shares of CFR, representing
2.61 per cent of the capital and 1.44 cent of the voting rights of the
company.
The shares acquired in the scope of the programme will be held in treasury to
cover the obligations arising from the stock option plan, which benefits
certain executives of the Richemont Group.
Execution of the buy-back programme - No special trading line
The share buy-backs will be implemented by UBS SA (Investment Bank division)
under market conditions, either on SIX Swiss Exchange or on JSE Limited (where
the shares would be acquired in the form of `depositary receipts`).
The repurchased shares will not be cancelled and the buy-back programme will
not give rise to the opening of a special trading line. Information relating
to the evolution of the extended buy-back programme will be published
regularly on the following address: http://www.copa.ch
The buy-back period started on 27 May 2010 and will expire by 25 May 2012. The
publication of the results of the buy-back programme will be published one
trading day after its termination.
CFR reserves the right to stop to the buy-back programme at anytime and has no
obligation to buy CFR shares in execution of the programme.
Share capital of the company
The share capital of CFR, amounting to CHF 574`200`000, is divided into
522`000`000 `A` bearer shares with a nominal value of CHF 1.00 each and
522`000`000 `B` registered shares with a nominal value of CHF 0.10 each. The
`A` bearer shares are included in the Swiss Market Index (SMI) and are traded
on SIX Swiss Exchange.
Significant shareholders and Treasury shares
The significant shareholders of CFR (under Art. 20 SESTA) are as follows:
Relevan Domicile/ Kind of Number of Voting Share
t date head share shares rights capital
office (%) (%)
Rupert 31.03. Ch. de la "A 2`836`664 0.27 0.49
Family 2011 Chenaie "bearer
50, 1293 shares
Bellevue
"B " 522`000`000 50.00 9.09
registe
red
shares
Public 27.02. ZA - "A" 32`633`436 3.13 5.68
Investm 2008 Pretoria bearer
ent 0001, shares
Corpora South
tion Africa
Moreover, on 18 May 2011, CFR indirectly held (treasury shares), via Richemont
Employee Benefits Limited, St. Helier, Jersey, 22`406`950 `A` bearer shares
representing 3.90 per cent of the capital and 2.15 per cent of the voting
rights as well as options with the right to acquire up to 10`658`721 `A`
bearer shares, representing 1.86 per cent of the capital and 1.02 per cent of
the voting rights; representing in total 5.76 per cent of the capital and 3.17
per cent of the voting rights of CFR.
Confidential Information
At the date of this announcement, CFR does not possess any unpublished
information about the Company likely to significantly influence the decision
of shareholders to participate in the buy-back programme.
Value number and ISIN
Value Number : 4503965
ISIN : CH0045039655
Press enquiries Analysts` enquiries
Alan Grieve Sophie Cagnard
Director of Corporate Affairs Head of Investor Relations
Tel: +41 22 721 3507 Tel: +33 1 58 18 25 97
E-mail: pressoffice@cfrinfo.net E-mail:
investor.relations@cfrinfo.net
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: 19/05/2011 07:31:00 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
