To view the PDF file, sign up for a MySharenet subscription.

CFR - Compagnie Financiere Richemont SA Depositary Receipts - Richemont

Release Date: 23/03/2012 08:00
Code(s): CFR
Wrap Text

CFR - Compagnie Financiere Richemont SA Depositary Receipts - Richemont announces termination of Share Buy-Back Programme Compagnie Financiere Richemont SA Depositary Receipts issued by Richemont Securities SA (Incorporated in Switzerland) ISIN: CH0045159024 Depositary Receipt Code: CFR COMPANY ANNOUNCEMENT FOR IMMEDIATE RELEASE RICHEMONT ANNOUNCES TERMINATION OF SHARE BUY-BACK PROGRAMME On 27 May 2010, Richemont announced a programme envisaging the buy-back of 10`000`000 of its own `A` bearer shares over a two year period. On 18 May 2011, the Board of Directors decided to extend the buy-back programme by an additional 5`000`000 `A` bearer shares. The extended buy-back programme thus amounted to 15`000`000 `A` bearer shares. At a meeting held on 22 March 2012, the Board of Compagnie Financiere Richemont SA considered the progress made to date and the requirements of the executive stock option plan. At that meeting, it was decided that the current programme should be terminated with immediate effect. 12`690`200 `A` bearer shares have been repurchased within the scope of the extended programme up to that time. As a consequence of the Board`s decision, no further shares will be bought back in terms of the scheme. The shares acquired are held in treasury to cover the obligations arising from the stock option plan, which benefits certain executives of the Richemont Group. The repurchased shares will not be cancelled. Further information: Press enquiries: Mr Alan Grieve Director of Corporate Affairs Tel. +41 22 721 3507 Analysts` enquiries: Ms Sophie Cagnard Head of Investor Relations Tel. +33 1 5818 2597 Richemont "A" shares are listed on the SIX Swiss Exchange, Richemont`s primary listing, and are included in the Swiss Market Index (`SMI`) of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont`s secondary listing. Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Compagnie Financiere Richemont SA 50, Chemin de la Chenaie CH-1293 Bellevue - Geneva Switzerland Telephone +41 (0)22 721 3500 Telefax +41 (0)22 721 3550 www.richemont.com 23 MARCH 2012 Date: 23/03/2012 08:00:01 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.

Share This Story