| Thu 19 May 2011, 7:32 | | 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 0.45 per share.
It is anticipated that this dividend will be approved by shareholders of CFR at
the annual general meeting to be held on Wednesday 7 September 2011 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 0.2925 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 Withholding tax
per CFR DR at 35% Net dividend
in Swiss francs in Swiss francs in Swiss francs
Total 0.04500 (0.01575) 0.02925
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 2 September 2011, 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, 9 Sept 2011
Trading commences "ex-dividend" from the Monday, 12 Sept 2011
commencement of business on
CFR DR dividend record date Friday, 16 Sept 2011
CFR DR dividend payment date Friday, 23 Sept 2011
CFR DR holders may not dematerialise or rematerialise their holding of CFR DRs
between Monday, 12 September 2011 and Friday, 16 September 2011 both days
inclusive.
Richemont Securities SA Depository Receipts are issued subject to the terms of
the Deposit Agreement entered into on 18 December 1992, most recently amended on
16 December 2010. By holding Depository Receipts, 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 SA or
Computershare Limited.
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.
19 May 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 19/05/2011 07:32:00 Produced by the JSE SENS Department.
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