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Fulfilment of the antitrust condition relating to the tender offer for YNAP
Compagnie Financière Richemont SA
Depositary Receipts issued by Richemont Securities SA
("Richemont Securities" or "Richemont")
(Incorporated in Switzerland)
Share code: CFR
ISIN: CH0045159024
Depositary Receipt Code: CFR
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
COMPANY ANNOUNCEMENT
23 MARCH 2018
VOLUNTARY PUBLIC TENDER OFFER FOR ALL ORDINARY SHARES OF YOOX NET-A-PORTER GROUP S.P.A.
ANNOUNCEMENT OF THE FULFILMENT OF THE ANTITRUST CONDITION PURSUANT TO ARTICLE 36, OF CONSOB REGULATION NO. 11971 OF 14 MAY 1999
Compagnie Financière Richemont SA ("Richemont"), the Swiss luxury goods group, announces that with reference to the currently ongoing voluntary public tender offer launched by RLG Italia Holding S.p.A. (the "Offeror") pursuant to Article 102 and Article 106, paragraph 4, of the TUF for all the issued and to be issued ordinary shares of YOOX NET-A-PORTER GROUP S.p.A. (the "Issuer" or "YNAP") other than those that the Offeror and the persons acting in concert with the Offeror already own (the "Offer"), the European Commission notified Richemont on 19.03.2018 of its decision of 19.03.2018 in Case M.8806, pursuant to Article 6(1)(b) of Council Regulation (EC) No. 139/2004 (the "Merger Regulation") and Article 57 of the Agreement on the European Economic Area (the "EEA Agreement") not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement.
As a consequence, all antitrust clearances to which the Offer was subject, as described in Paragraph A.5 of the Offer Document, have now been obtained, and the condition of effectiveness of the Offer described in Paragraph A.1, point (i), Warnings Section, of the Offer Document has been fulfilled.
The Offer remains subject to the Minimum Acceptance Level Condition described in Paragraph A.1, point (ii), Warnings Section, of the Offer Document, and to the MAC Condition described in Paragraph A.1, point (iii), Warnings Section, of the Offer Document.
For any request or information relating to the Offer, +39.0642.171.820 and toll free number 800.123.792 have been set-up by Georgeson S.r.l., in its capacity as Global Information Agent, and will be active for the entire duration of the Offer on weekdays, from 9:00 a.m. to 6:00 p.m. CET.
The Offer Document was published on 18.03.2018 and made available to the public for consultation: (i) at the registered office of the Intermediary Appointed to Coordinate the Collection of Acceptances Banca IMI S.p.A. (Milan, Largo Mattioli 3); (ii) at the registered office of the Offeror (Milan, Via Benigno Crespi 26); (iii) on the Issuer's website (www.ynap.com); (iv) on Richemont's website (www.richemont.com/investor-relations/yoox-net-a-porter-group-tender-offer.html) and (v) on the Global Information Agent's website (www.georgeson.com/it).
The original announcement of the fulfilment of the Antitrust Condition, in Italian, can be downloaded from Richemont's website at www.richemont.com/investor-relations/yoox-net-a-porter-group-tender-offer.html. In the event of inconsistencies with this English translation, the original Italian version of the announcement will prevail and no responsibility is accepted for the accuracy of the translation.
About Richemont
Richemont owns a portfolio of leading international 'Maisons' which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef and Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange and Söhne, Baume and Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin as well as the Ralph Lauren Watch and Jewelry joint venture; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Lancel, Montblanc and Peter Millar as well as watch component manufacturing activities.
In addition, Richemont holds a 49% equity-accounted interest in YOOX NET-A-PORTER GROUP, a publicly traded company.
For the financial year ended 31 March 2017, Richemont reported sales of EUR 10 647 million, operating profit of EUR 1 764 million and profit for the year of EUR 1 210 million.
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.
Investor/analyst and media contacts
Sophie Cagnard, Group Corporate Communications Director
James Fraser, IR Executive
Investors/analysts +41 22 721 30 03 investor.relations@cfrinfo.net
Media +41 22 721 35 07 pressoffice@cfrinfo.net
richemont@teneobluerubicon.com
COMPAGNIE FINANCIERE RICHEMONT SA
50, CHEMIN DE LA CHENAIE | CASE POSTALE 30 | 1293 BELLEVUE | GENEVA | SWITZERLAND
TELEPHONE +41 (0)22 721 3500
WWW.RICHEMONT.COM
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 26/03/2018 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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