COMPAGNIE FINANCIERE RICHEMONT SA - Richemont Securities SA South African withholding tax on Dividends

Richemont Securities SA – South African withholding tax on Dividends

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


RICHEMONT SECURITIES SA  SOUTH AFRICAN WITHHOLDING TAX ON DIVIDENDS

Depositary receipt holders are referred to the dividend announcement published on 16 May 2012 wherein it was explained that the dividend payable by Compagnie Financière Richemont (CFR) will be subject to Swiss withholding tax of 35 per cent, resulting in a net dividend of CHF 0.3575 per share. South African tax residents are eligible to recover 20 per cent of the 35 per cent withholding tax levied on the CFR dividend provided the required claim forms are completed. This process remains unchanged from previous years and is not influenced by the ruling on the South African withholding tax dealt with below.

As far as the South African withholding tax on dividends is concerned we hereby confirm that a binding class ruling has been obtained from the South African Revenue Service. In terms of this ruling, depositary receipt holders are not subject to additional South African withholding tax because of the credit available in respect of the Swiss withholding tax paid. It is also confirmed that there is no need for the depositary receipt holders to make any declarations in order to qualify for the exemption from the South African withholding tax.


Richemont Securities SA Depositary 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 Depositary 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 Investor Services (Pty) Limited.

Richemont Securities may appoint a depositary agent or other parties to assist in the administration of the depositary 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.   

20 AUGUST 2012

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 20/08/2012 02:39:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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