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Press release
Purchases may be effected through share purchases on SIX Swiss Exchange and the purchase of depository receipts on the Johannesburg market at prevailing market prices or through the exercise of over-the-counter call options. 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 24.3 million ‘A' shares, representing 4.2 % of the capital and 2.3 % 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. In addition, Richemont holds over-the-counter call options to acquire a further 4.2 million ‘A' shares, representing 0.7 % of the capital and 0.4 % of the voting rights of the Company.
