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Richemont Securities AG - PRESS RELEASE
Richemont Securities AG
(Incorporated in Switzerland)
(Registration CH-170.3.013.861-6)
JSE Code : RCH
ISIN: CH0001609723
PRESS RELEASE - 17 SEPTEMBER 2003
Geneva, 17 September 2003
At the Annual General Meeting of Compagnie Financiere Richemont SA held today in
Geneva, the shareholders approved the results for the year, including the
proposals of the Board of Directors for the appropriation of retained earnings
at 31 March 2003.
A dividend of euro 0.32 per Richemont unit will be paid to unitholders by
Richemont SA, Luxembourg, a wholly-owned subsidiary of Compagnie Financiere
Richemont SA. The dividend will be payable without deduction of withholding
taxes or charges, on 29 September 2003 against presentation of new coupon number
2. The dividend is unchanged from that paid in 2002.
The shareholders of Compagnie Financiere Richemont SA re-elected the serving
members of the board of directors with the exception of Mr Joe Kanoui, who had
indicated his intention not to stand for re-election. The shareholders
additionally appointed Mr Simon Murray, Mr Alain Dominique Perrin and Mr Jurgen
Schrempp to the board.
Mr Murray is an industrialist with considerable experience in the Asia Pacific
region. He was formerly Group Managing Director of Hutchison Whampoa in Hong
Kong and was Executive Chairman Asia Pacific of Deutsche Bank.
Mr Schrempp is Chairman of the Board of Management of DaimlerChrysler AG.
Mr Perrin has worked with Cartier and Richemont for over 30 years. As previously
announced, Mr Perrin will be standing down as Chief Executive of Richemont SA
with effect from 1st October this year. He will, however maintain an executive
role and will continue to work closely with the Group in terms of strategic
marketing initiatives.
Richemont is a Swiss luxury goods group. The Group owns a portfolio of leading
international brands including Cartier, Van Cleef & Arpels, Dunhill, Montblanc
and Lancel as well as the prestigious watch manufacturers Jaeger-LeCoultre,
Piaget, Baume & Mercier, IWC, Vacheron Constantin, A.Lange & Sohne, and Officine
Panerai.
In addition to its luxury goods business, Richemont holds a 19.0 % interest in
the ordinary share capital of British American Tobacco p.l.c., the world"s
second largest tobacco company.
Further inquiries: Mr Alan Grieve
Company Secretary
Compagnie Financiere Richemont SA
Note for South African depository receipt holders
The details set out above in respect of the dividend payable relate solely to
the payment to be effected to non-South African holders of Richemont `A" units.
The dividend attributable to holders of Richemont Securities" South African
Depository Receipts (`DR"s") will be payable on 10 October 2003 at the rand
equivalent of euro 0.032 per DR. The dividend will be converted into rand for
payment on 10 October 2003 based on the exchange rate prevailing today. Full
details of dividend payment arrangements in respect of the DRs will be published
on SENS tomorrow, Thursday 18 September 2003.
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 17/09/2003 11:30:05 AM Produced by the JSE SENS Department
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