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CFR - Compagnie Financiere Richemont SA Depositary Receipts - Richemont

Release Date: 19/05/2011 07:32
Code(s): CFR
Wrap Text

CFR - Compagnie Financiere Richemont SA Depositary Receipts - Richemont Securities AG - dividend dates in respect of South African depository receipts (`CFR DR`) Compagnie Financiere Richemont SA Depositary Receipts issued by Richemont Securities AG ("Richemont Securities or "Richemont") (Incorporated in Switzerland) ISIN: CH0045159024 Depositary Receipt Code: CFR RICHEMONT SECURITIES AG - DIVIDEND DATES IN RESPECT OF SOUTH AFRICAN DEPOSITORY RECEIPTS (`CFR DR`) The dividend payable to holders of Richemont Securities` CFR DRs resident in the South African Common Monetary Area (`SACMA`) is derived from the dividend paid by Compagnie Financiere Richemont SA, Switzerland (`CFR`) to holders of Richemont `A` shares. The CFR DR dividend payable to SACMA residents is payable in Rand. The Board of directors have recommended a total dividend of CHF 0.45 per share. It is anticipated that this dividend will be approved by shareholders of CFR at the annual general meeting to be held on Wednesday 7 September 2011 in Geneva. The dividend payable by CFR will be subject to Swiss withholding tax of 35 per cent, resulting in a net dividend of CHF 0.2925 per share. As CFR DR`s trade in the ratio of 10 DRs to each Richemont `A` share, the dividend entitlement per CFR DR is as follows: Gross dividend Withholding tax per CFR DR at 35% Net dividend
in Swiss francs in Swiss francs in Swiss francs Total 0.04500 (0.01575) 0.02925 The exchange rate applicable for the conversion of Swiss franc to Rand for payment of the dividend will be confirmed in a separate announcement to be released on SENS on Friday 2 September 2011, being the finalisation date. The payment dates for the dividend in respect of the South African CFR DRs are anticipated to be as follows: Last date to trade "cum dividend" Friday, 9 Sept 2011 Trading commences "ex-dividend" from the Monday, 12 Sept 2011 commencement of business on CFR DR dividend record date Friday, 16 Sept 2011 CFR DR dividend payment date Friday, 23 Sept 2011 CFR DR holders may not dematerialise or rematerialise their holding of CFR DRs between Monday, 12 September 2011 and Friday, 16 September 2011 both days inclusive. Richemont Securities SA Depository Receipts are issued subject to the terms of the Deposit Agreement entered into on 18 December 1992, most recently amended on 16 December 2010. By holding Depository 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 SA or Computershare 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 depository receipts. 19 May 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 19/05/2011 07:32:00 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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