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COMPAGNIE FINANCIERE RICHEMONT SA - Richemont Securities SA - information for Depositary Receipt (DR) holders - withholding tax reclaim

Release Date: 15/10/2019 15:01
Code(s): CFR     PDF:  
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Richemont Securities SA - information for Depositary Receipt (‘DR’) holders - withholding tax reclaim

Compagnie Financiere 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


The Richemont dividend was paid to DR holders on 26 September 2019. It is anticipated that the withholding tax reclaim letters that allow DR holders to reclaim 20% of the 35% Swiss withholding tax as explained in the SENS announcement of 10 September 2019 will be emailed on or about 18 October 2019. 

Should you not receive your reclaim form by 30 October 2019 please contact our agent, Computershare, who can resend the reclaim form to you.

Computershare Investor Services (Proprietary) Limited, 
Rosebank Towers,
15 Biermann Avenue,
Rosebank 2196
South Africa

Call Centre Telephone No. 0861-100-935

Following the increase in the South African dividends tax rate from 15 percent to 20 percent a revised binding class ruling has been obtained from the South African Revenue Service. In terms of this ruling, those depository receipt holders who are not exempt from the South African dividends tax will be subject to a rate of 5 percent South African tax because of the credit available in respect of the Swiss withholding tax paid. Those depository receipt holders who qualify for exemption from the South African tax (e.g. South African companies and non-residents of South Africa) must ensure that they have filed the relevant exemption forms with their brokers/banks in order to ensure that no South African tax is withheld.

Please note that Computershare have received refunds from the Swiss Federal Tax Authority for which they have been unable to make payment. If you have previously made a claim and have not received your refund, please contact Computershare (contact details as above), who will be able to advise you if your payment is pending. Please further note that any long outstanding payments older than ten years, which Computershare have been unable to pay, will become forfeit at the end of February 2020.

Richemont Securities SA CFR DRs are issued subject to the terms of the Deposit Agreement entered into on 18 December 1992, most recently amended on 26 March 2014. By holding DR's, 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 SA may appoint a depositary agent or other parties to assist in the administration of the DR programme and may provide to such agents such information as it deems to be appropriate, including information relating to the identity of holders of DR's.  

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 DR's are listed in Johannesburg, Richemont's secondary listing.

15 October 2019

Merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 15/10/2019 03:01:00
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