| Thu 14 Sep 2006, 12:34 | | Richemont - Richemont Annual General Meeting 2006 |
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RCH
RCH
Richemont - Richemont Annual General Meeting 2006 Decisions Of The Meeting
Richemont Securities AG
(Incorporated in Switzerland)
Share code: RCH
ISIN: CH0013157380
("Richemont")
RICHEMONT ANNUAL GENERAL MEETING 2006
DECISIONS OF THE MEETING
Bellevue, Geneva, 14 September 2006
At the Annual General Meeting of Compagnie Financiere Richemont SA held today in
Bellevue, 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 2006.
A dividend of Euro 0.05 per Richemont unit will be paid to unitholders on the
share capital of Compagnie Financiere Richemont SA. The dividend will be payable
to holders of `A" and `B" units on 18 September 2006 against presentation of
coupon number 6, free of charges but subject to Swiss withholding tax at 35 per
cent. This represents a total dividend payable of Euro 27 862 265, excluding
units held in treasury. The Swiss franc equivalent of this amount, calculated at
the exchange rate prevailing as at the time of the Annual General Meeting, is
CHF 44 214 629. The remaining available retained earnings of the Company at 31
March 2006, of CHF 752 898 449 after payment of the dividend, will be carried
forward.
In addition, a dividend of Euro 1.05 will be paid by Richemont SA, Luxembourg, a
wholly-owned subsidiary of Compagnie Financiere Richemont SA. This consists of
an ordinary dividend of Euro 0.55 and a special dividend of Euro 0.50 per unit
and will be payable to holders of `A" and `B" units without deduction of
withholding taxes or charges, on 18 September 2006, against presentation of
coupon number 7.
The total dividend for the year, payable by both entities, will therefore be
Euro 1.10 per unit, before deduction of withholding tax.
Two members of the Board, Mr Leo Deschuyteneer and Mr Ernst Verloop, did not
seek re-election. The shareholders of Compagnie Financiere Richemont SA re-
elected all other the serving members of the board of directors and, in
addition, appointed Mr Ruggero Magnoni, and Mr Jan Rupert to the Board.
The transfer of Compagnie Financiere Richemont SA"s registered office to 50
chemin de la Chenaie, 1293 Bellevue, Geneva was also formally approved by the
shareholders.
Richemont owns a portfolio of leading international brands or `Maisons", which
are managed independently of one another, recognising their individuality and
uniqueness. The businesses operate in five areas: Jewellery Maisons, being
Cartier and Van Cleef & Arpels;
Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume
& Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Sohne; Writing
instrument Maisons - Montblanc and Montegrappa; Leather and accessories Maisons,
being Alfred Dunhill and Lancel; and Other businesses, which includes,
specifically, Chloe as well as other smaller Maisons and watch component
manufacturing activities for third parties.
In addition to its luxury goods business, Richemont holds an 18.8 per cent
interest in British American Tobacco.
Information for holders of depository receipts:
The dividend payable per depository receipt before the deduction of withholding
tax is euro 0.11. The exchange rate applicable for the conversion of euros to
rand for payment of the dividend is ZAR 9.3140 : euro 1. This amounts to a gross
dividend before withholding tax of ZAR 102.454 cents, and is payable on 29
September 2006. Please refer to our SENS release of 8 September 2006 for full
details of the dividend payable to depository receipt holders.
Richemont Securities AG DRs are issued subject to the terms of the Deposit
Agreement dated 25 August 1988, as amended and, by holding DRs, 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 Investor Services 2004 (Pty) Limited.
Richemont Securities AG may appoint a depository agent or other parties to
assist in the administration of the depository receipt programme and may provide
to such agents such information as it deems to be appropriate, including
information relating to the identity of holders of depository receipts.
14 September 2006
Merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Press inquiries:
Mr Alan Grieve, Director of Corporate Affairs
Tel: + 41 22 721 3507
Analysts" inquiries:
Ms Sophie Cagnard-Fabrici, Head of Investor Relations
Tel: + 33 1 5818 2597
Date: 14/09/2006 12:34:02 PM Produced by the JSE SENS Department
