COMPAGNIE FINANCIERE RICHEMONT SA - Richemont Securities SA changes to South African dividend tax

Richemont Securities SA – changes to South African dividend tax

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


RICHEMONT SECURITIES SA – CHANGES TO SOUTH AFRICAN DIVIDEND TAX

We refer to the announcement by the Minister of Finance on 22 February 2017, that the South African dividends tax has been increased from 15 percent to 20 percent. In the case of entities listed on the JSE, the increase is effective for all dividends paid on or after 22 February 2017.

With regard to the Compagnie Financière Richemont SA dividend in respect of its 31 March 2017 financial year, payable in September 2017, we are in discussions with the South African Revenue Service (SARS) to seek a ruling to clarify the approach to be taken. As such, we advise depositary receipt holders to obtain professional advice regarding their own positions until SARS has advised on this matter.



13 March 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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