RICHEMONT ANNOUNCES FURTHER UNIT BUY-BACK PROGRAMM
RICHEMONT ANNOUNCES FURTHER UNIT BUY-BACK PROGRAMME
Richemont announces a further programme to buy-back up to 10 million Richemont
"A" units through the market over the coming 2-year period. The 10 million `A"
units represent 1.74 per cent of the capital of the Group and 0.96 per cent of
the voting rights of Compagnie Financiere Richemont SA.
The `A" units to be acquired will be held in treasury in connection with awards
to executives under the Group"s stock option plan. Purchases will be effected on
Richemont"s behalf by Lehman Brothers, London through both the Virt-x and
Johannesburg markets at prevailing market prices. The `A" units will not be
cancelled and no second trading line will be introduced as a consequence of the
buy-back programme. Regular information as to the buy-back programme will be
made available through the SWX Swiss Exchange.
Richemont currently holds 24.6 million `A" units, representing 4.29 per cent of
the capital of the Group and 2.36 per cent of the voting rights at the level of
Compagnie Financiere Richemont SA, in treasury as a consequence of previous buy-
back programmes, which have also been linked to the Group"s stock option plan.
Richemont `A" units (Valorennummer 1273145; ISIN CH 0012731458) are included in
the SMI Swiss Market Index and are traded on the Virt-x exchange. A total of 522
000 000 `A" units, each comprising one share of SFrs 1.00 in Compagnie
Financiere Richemont SA, Geneva and one participation certificate of no par
value issued by Richemont SA, Luxembourg are in issue. In addition, Richemont
has 52 200 000 `B" units in issue, representing 9.09 per cent of the capital and
50 per cent of the voting rights at the level of Compagnie Financiere Richemont
SA. The `B" units are held by Compagnie Financiere Rupert and are not listed.
The Capital Group Companies Inc of Los Angeles, California have indicated that
they hold 52.5 million `A" units, representing 9.14 per cent of the Group"s
capital and 5.03 per cent of the voting rights.
Richemont"s interim results for the six-month period ended 30 September 2003
were published on 13 November 2003 and a trading statement as to the Group"s
sales in the three-month period ended 31 December 2003 was issued on 15 January
2004.
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