Richemont Securities Ag - Split In Depositary Rece
RICHEMONT
Richemont Securities AG
Incorporated in Zug, Switzerland
Share code: RCH
ISIN code: CH 0001609723
("Richemont Securities" or "the company")
Split in Depositary Receipts
1. Background
Further to the press announcement of 7 June 2001, holders of Depositary
Receipts issued by Richemont Securities are advised that the 100:1 split in
Richemont "A" units was approved at meetings of shareholders of Compagnie
Financiere Richemont AG and of participation certificate holders of
Richemont SA, Luxembourg. The split in Richemont "A" units will take effect
from Monday 12 November 2001.
Depositary Receipts are currently issued in the ratio of 100 Depositary
Receipts to one Richemont "A" unit. The split in Richemont "A" units would
result in a corresponding split in Depositary Receipts. The boards of
Compagnie Financiere Richemont AG, Richemont SA, Luxembourg and Richemont
Securities are of the view that this would result in Depositary Receipts
trading in too low a price range. They have therefore agreed to consolidate
the ratio of Depositary Receipts to Richemont "A" units from 100:1 to 10:1
with effect from 12 November 2001. This will result in an effective 10:1
split in Depositary Receipts.
2. Surrender of certificates
If you have chosen to keep your Depositary Receipts in certificated form,
you must surrender your certificates to the company's registrars,
Computershare Services Limited ("Computershare"), in order for new
certificates reflecting the split to be issued to you. If you have already
surrendered your Depositary Receipts for dematerialisation in terms of
STRATE, your safe custody account will be automatically updated and you need
take no further action.
A circular setting out further details of the split, including a form of
surrender, was posted to Depositary Receipt holders on 17 October 2001.
3. Important dates
Please take note of the following important dates:
2001
Last day to trade in order for settlement
to occur by the record date in the currently
issued Depositary Receipts 9 November
Last day to register transfers of
certificated Depositary Receipts 9 November
New (sub-divided) Depositary Receipts
listed on the JSE Securities Exchange South Africa
and first day to trade in new (sub-divided)
Depositary Receipts 12 November
Record date for the split 16 November
New certificates reflecting the split
issued to Depositary Receipt holders who
have chosen to hold their Depositary Receipts
in certificated form and whose Depositary
Receipts are received by Computershare on
or before Friday 16 November 2001 on 19 November
(Thereafter new certificates will be
posted within five business days of
receipt of the relevant documents)
Register of Depositary Receipt holders
and CSDP safe custody accounts updated on 19 November
Notes:
1. You will not be able to dematerialise your Depositary Receipts from 5
November 2001 to 16 November 2001, both days inclusive.
2. If you intend to exchange your Depositary Receipts for Richemont "A"
units, with effect from Monday 12 November 2001 only new (sub-divided)
Depositary Receipts may be exchanged for new (sub-divided) Richemont "A"
units.
18 October 2001
Rand Merchant Bank Corporate Finance
A Division of FirstRand Bank Limited
Attorneys
Hofmeyr Herbstein & Gihwala Inc.
(Registration number 1997/001523/21)
Registrars
Computershare
Computershare Services Limited
(Registration number 1958/003546/06)
Custodian
Computershare
Custodial Services Limited
(Registration number 2000/006082/06)
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