Richemont announces a programme to buy-back up to 10 million Richemont ‘A' units through the market over the coming 2-year period. The 10 million ‘A' units represent 1.74 per cent of the capital of the Group and 0.96 per cent of the voting rights of Compagnie Financière Richemont SA.
The ‘A' units to be acquired will be held in treasury in connection with awards to executivesunder the Group's stock option plan. Purchases will be effected through both SWX Europeand the Johannesburg market at prevailing market prices, or through the exercise of over-thecountercall options. The ‘A' units will not be cancelled and no second trading line will beintroduced as a consequence of the buy-back programme. Richemont currently holds 13.1 million ‘A' units, representing 2.29 per cent of the capital ofthe Group and 1.26 per cent of the voting rights at the level of Compagnie FinancièreRichemont SA, in treasury as a consequence of previous buy-back programmes, which havealso been linked to the Group's stock option plan. In addition, Richemont holds over-thecountercall options to acquire a further 8.9 million ‘A' units, representing 1.55 per cent of thecapital of the Group and 0.85 per cent of the voting rights at the level of CompagnieFinancière Richemont SA. Richemont ‘A' units (Valorennummer 1273145; ISIN CH 0012731458) are included in theSMI Swiss Market Index and are traded on the SWX Europe exchange. A total of522 000 000 ‘A' units, each comprising one share of SFrs 1.00 in Compagnie FinancièreRichemont SA, Geneva and one participation certificate of no par value issued by RichemontSA, Luxembourg are in issue. In addition, Richemont has 52 200 000 ‘B' units in issue,representing 9.09 per cent of the capital and 50 per cent of the voting rights at the level ofCompagnie Financière Richemont SA. The ‘B' units are held by Compagnie FinancièreRupert and are not listed. Richemont's audited results for the year ended 31 March 2008 were announced earlier today.Operating profit increased by 21 per cent to € 1 108 million and net profit increased by 18 percent to € 1 570 million. This announcement is for information purposes and does not constitute a listingannouncement under the terms of the Listing Requirements of SWX Swiss Exchange nor doesit constitute a listing prospectus in terms of article 652a of Swiss Company Law.Press release
