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Richemont Securities AG - Proposed Dividend Dates For Holders Of South African
Depositary Receipts
Richemont Securities AG
(Incorporated in Switzerland)
Share code: RCH
ISIN: CH0013157380
(`Richemont`)
PROPOSED DIVIDEND PAYMENT ARRANGEMENTS FOR HOLDERS OF SOUTH AFRICAN DEPOSITARY
RECEIPTS
As previously advised a dividend of Euro0.40 per Richemont `A` unit has been
proposed by the board of Compagnie Financiere Richemont SA, representing an
increase of 25 per cent over the prior year`s level. Richemont `A` units are
listed on the SWX Swiss Exchange. Richemont Securities AG South African
Depositary Receipts are listed on the JSE Securities Exchange South Africa, each
Depositary Receipt representing one tenth of the value of a Richemont `A` unit.
The dividend payable in respect of each Depositary Receipt will therefore be the
rand equivalent of one tenth of the dividend payable in respect of an `A` unit.
The rand equivalent will be determined following approval of the `A` unit
dividend at the Richemont shareholders` meeting to be held on 16 September 2004
and will be communicated to Depositary Receipt holders as soon as possible
thereafter.
The proposed payment dates in respect of the dividend in respect of the South
African Depositary Receipts are as follows:
Last date to trade `cum dividend` (`LDT`) Thursday, 23 Sept 2004
Trading commences `ex-dividend` from the Monday, 27 Sept 2004
commencement of business on
DR dividend record date Friday, 1 Oct 2004
DR dividend payment date Friday, 8 Oct 2004
DR Holders may not dematerialise or rematerialise their holding of Richemont DRs
between Monday, 27 September and Friday, 1 October, both days inclusive.
On 10 June 2004, Richemont released its preliminary results for the year ended
31 March 2004. Rand equivalents of the Group`s results, as published as an
addendum to the press release, were as follows:
March March
2004Ra 2003
nd Rand
Sales 28 356 million 35 106 million - 19 %
Operating profit 2 487 million 2 490 million - 0 %
Net profit:
- Parent and 2 000 million 1 500 million + 33 %
subsidiaries
- Share of associated
companies 3 546 million 4 673 million - 24 %
- The Group 5 545 million 6 173 million - 10 %
Earnings per Depositary
Receipt - basic 1.0082 1.1106 - 9 %
Fully diluted basis 1.0023 1.1087 - 10 %
The average euro/rand exchange rate prevailing during the year ended 31 March
2004 was 8.4017; this compares with a rate of 9.6154 during the prior year. In
accordance with the style of presentation used in previous years and for ease of
comparability, these results are presented on an adjusted basis, excluding the
effects of goodwill amortisation in respect of the Group`s investment in British
American Tobacco and exceptional items in both periods.
Richemont Securities AG Depositary Receipts are issued subject to the terms of
the Deposit Agreement dated 25 August 1988, as amended, and, by holding
Depositary 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 AG or Computershare Limited.
15 June 2004
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 15/06/2004 05:10:02 PM Produced by the JSE SENS Department
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