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Richemont announces the end of the
share buy-back programme initiated in May 2012
and the launch of a new programme
Compagnie Financière Richemont SA Depositary Receipts
issued by Richemont Securities SA ("Richemont Securities" or "Richemont")
(Incorporated in Switzerland)
ISIN: CH0045159024
Depositary Receipt Code: CFR
COMPANY ANNOUNCEMENT FOR IMMEDIATE RELEASE
RICHEMONT ANNOUNCES THE END OF THE
SHARE BUY-BACK PROGRAMME INITIATED IN MAY 2012
AND THE LAUNCH OF A NEW PROGRAMME
Richemont's two-year share buy-back programme announced on 16 May 2012 ended today. Under the programme, the Company repurchased a total of 6 980 620 'A' shares, representing 1.2 % of the capital and 0.7 % of the voting rights of Compagnie Financière Richemont SA. Richemont's share purchase history can be found on the Company's website at:
http://www.richemont.com/investor-relations/share-buy-back-information.html
In addition, Richemont announces a new programme to buy-back up to 10 million Richemont 'A' shares through the market over the next three years, representing 1.7 % of the capital and 1.0 % of the voting rights of Compagnie Financière Richemont SA.
Purchases may be effected through 'A' share purchases on SIX Swiss Exchange at prevailing market prices. The 'A' shares acquired will not be cancelled and no second trading line will be introduced as a consequence of the buy-back programme. The 'A' shares to be acquired will be held in treasury to hedge awards to executives under the Group's stock option plan.
Richemont currently holds 11.3 million 'A' shares, representing 2.0 % of the capital and 1.1 % of the voting rights of the Company, in treasury as a consequence of previous buy-back programmes, which have also been linked to the Group’s stock option plan.
______________________________________
Press Enquiries
Alan Grieve
Director of Corporate Affairs
Tel: +41 22 721 3507
Email: pressoffice@cfrinfo.net
Analysts' Enquiries
Sophie Cagnard
Head of Investor Relations
Tel: +33 1 58 18 25 97
Email: investor.relations@cfrinfo.net
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.
15 MAY 2014
Merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 15/05/2014 07:33:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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