CFR - Compagnie Financiere Richemont SA Depositary Receipts - Richemont
CFR
CFR
CFR - Compagnie Financiere Richemont SA Depositary Receipts - Richemont
announces termination 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
COMPANY ANNOUNCEMENT FOR IMMEDIATE RELEASE
RICHEMONT ANNOUNCES TERMINATION OF SHARE BUY-BACK PROGRAMME
On 27 May 2010, Richemont announced a programme envisaging the buy-back of
10`000`000 of its own `A` bearer shares over a two year period. On 18 May 2011,
the Board of Directors decided to extend the buy-back programme by an additional
5`000`000 `A` bearer shares. The extended buy-back programme thus amounted to
15`000`000 `A` bearer shares.
At a meeting held on 22 March 2012, the Board of Compagnie Financiere Richemont
SA considered the progress made to date and the requirements of the executive
stock option plan. At that meeting, it was decided that the current programme
should be terminated with immediate effect. 12`690`200 `A` bearer shares have
been repurchased within the scope of the extended programme up to that time. As
a consequence of the Board`s decision, no further shares will be bought back in
terms of the scheme.
The shares acquired are held in treasury to cover the obligations arising from
the stock option plan, which benefits certain executives of the Richemont Group.
The repurchased shares will not be cancelled.
Further information:
Press enquiries:
Mr Alan Grieve
Director of Corporate Affairs
Tel. +41 22 721 3507
Analysts` enquiries:
Ms Sophie Cagnard
Head of Investor Relations
Tel. +33 1 5818 2597
Richemont "A" shares are listed on the SIX Swiss Exchange, Richemont`s primary
listing, and are included in the Swiss Market Index (`SMI`) of leading stocks.
Richemont South African Depository Receipts are listed in Johannesburg,
Richemont`s secondary listing.
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
23 MARCH 2012
Date: 23/03/2012 08:00:01 Produced by the JSE SENS Department.
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