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CFR - Richemont Securities SA - Exchange rate applicable for dividend payable on Compagnie Financiere Richemont depository receipts Richemont Securities SA (Incorporated in Switzerland) Share code: CFR ISIN: CH0045159024 ("Richemont") RICHEMONT SECURITIES SA - EXCHANGE RATE APPLICABLE FOR DIVIDEND PAYABLE ON COMPAGNIE FINANCIERE RICHEMONT DEPOSITORY RECEIPTS (`CFR DRs`) 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 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. Richemont Securities SA will operate a programme for South African tax residents, who will generally be eligible to recover 20 per cent of the 35 per cent withholding tax levied on the CFR dividend. Full details of the programme will be mailed to holders of CFR DRs on 23 September 2011, at the time of the payment of the dividend. In the past certain CFR DR Holders may have lost their opportunity to reclaim the withholding tax due to incorrect contact information being supplied by their CSDPs to STRATE. We suggest that CFR DR Holders contact their CSDP in advance of the payment to ensure the information held in the STRATE system is correct. Should CFR DR holders not receive details of the withholding tax recovery process by mail by late October 2011 they should contact their CSDP or Computershare Investor Services (Pty) Limited ("Computershare"). 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 0.0450 (0.01575) 0.02925 The exchange rate applicable for the conversion of Swiss franc to rand for payment of the dividend is ZAR 8.86905 : Swiss franc 1. Accordingly the net dividend payable per CFR DR is ZAR 25.9420 cents, as set out in the table below: Gross dividend Withholding tax
per CFR DR at 35% Net dividend in ZAR cents in ZAR cents in ZAR cents Total 39.9107 (13.9687) 25.9420 Under the withholding tax recovery programme qualifying SACMA residents will currently be entitled to recover the equivalent of CHF 0.009 per CFR DR. The amount recovered will be converted into ZAR and will be remitted to CFR DR holders who participate in the programme once the reimbursement of the tax has been received from the Swiss Federal Tax Authorities (`SFTA`). Your attention is drawn to the fact that the refunds are to be paid by the SFTA in Swiss francs. The Swiss francs received by Richemont Securities SA will be converted into rand at the ZAR-Swiss franc exchange rate ruling at the time of receipt. Bearing in mind the fluctuating ZAR : Swiss franc exchange rate, the effective rate used to arrive at the ZAR refund payment to CFR DR holders will differ from that applicable to the dividend payment itself. The anticipated payment dates for the dividend in respect of the South African CFR DRs are as follows: Last date to trade "cum dividend"(`LDT`) Friday, 9 September 2011 Trading commences "ex-dividend" from the Monday, 12 September 2011 commencement of business on CFR DR dividend record date Friday, 16 September 2011 CFR DR dividend payment date Friday, 23 September 2011 CFR DR Holders may not dematerialise or rematerialise their holding of Richemont DRs between Monday, 12 September 2011 and Friday, 16 September 2011 both dates inclusive. Richemont Securities SA CFR DRs 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 SA 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. 2 September 2011 Merchant bank and sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 02/09/2011 11:13:01 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.
