COMPAGNIE FINANCIERE RICHEMONT SA - Richemont Securities SA-Updated information for the dividend payable on depository receipts to South African holders

Richemont Securities SA-Updated information for the dividend payable on depository receipts to South African holders

Compagnie Financiere Richemont SA Depositary Receipts
Issued by Richemont Securities SA ("Richemont Securities")
(Incorporated in Switzerland)
Share code: CFR
ISIN: CH0045159024
Depositary Receipt Code: CFR

RICHEMONT SECURITIES SA - UPDATED INFORMATION FOR THE DIVIDEND PAYABLE ON DEPOSITORY RECEIPTS TO SOUTH AFRICAN HOLDERS 

Further to the dividend finalisation announcement made earlier today, please find below a breakdown of the ordinary dividend and special dividend payable to holders of Richemont Securities' CFR DRs resident in the South African Common Monetary Area ('SACMA').

The board of directors of CFR has recommended an ordinary dividend of CHF 2.25000 per 'A' share from income reserves, as well as a special dividend of CHF 1.00000 per 'A' share from income reserves. The dividend was approved by shareholders of CFR at the annual general meeting on 7 September 2022 in Geneva.  The dividends payable by CFR will be subject to Swiss withholding tax of 35 per cent, resulting in a net ordinary dividend of CHF 1.46250 and a special dividend of CHF 0.65000 per 'A' share.  South African tax residents are eligible to recover 20 per cent of the 35 per cent Swiss withholding tax levied on the CFR dividend. 

The exchange rate applicable for the conversion of Swiss franc to rand for payment of the dividend is ZAR 17.87000: Swiss franc 1. Accordingly, the net dividend payable per CFR DR after South African dividend tax is ZAR 348.46500 cents, as set out in the table below:

              Gross dividend   Swiss withholding  South African    
                  Per CFR DR   tax at 35%         withholding tax    Net dividend
                in ZAR cents   in ZAR cents       at 5%              in ZAR cents

Ordinary Dividend  402.07500   (140.72625)        (20.10375)            241.24500
Special Dividend   178.70000    (62.54500)        (8.93500)             107.22000
Total              580.77500   (203.27125)        (29.03875)            348.46500

CFR DRs are issued subject to the terms of the Deposit Agreement entered into on 18 December 1992, most recently amended on 26 March 2014. 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 SA or Computershare Investor Services Proprietary Limited.

Richemont Securities 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 CFR DRs.   

13 September 2022


Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 13-09-2022 03:40:00
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