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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 Donnerstag, 15. Mai 2014 - 07:43

Richemont
 

COMPANY ANNOUNCEMENT FOR IMMEDIATE RELEASE

 

15 MAY 2014

 

 

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.

 

 

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