COMPAGNIE FINANCIERE RICHEMONT SA - Richemont announces temporary suspension of the shareholder loyalty scheme

Richemont announces temporary suspension of the shareholder loyalty scheme

Compagnie Financière Richemont SA 
Depository Receipts issued by Richemont Securities SA 
("Richemont Securities" or "Richemont") 
(Incorporated in Switzerland) 
Share code: CFR 
ISIN: CH0045159024 
Depository Receipt Code: CFR


COMPANY ANNOUNCEMENT 
9 SEPTEMBER 2020


RICHEMONT ANNOUNCES TEMPORARY SUSPENSION OF THE SHAREHOLDER LOYALTY SCHEME


The Board of Directors of Compagnie Financière Richemont SA (Richemont) announces its intention to study the possibility of delivering Richemont A shares to holders of South African depository receipts, thereby cancelling the Company's depository receipt programme in South Africa. The contemplated simplified structure is intended to reduce administrative complexity and facilitate cross-border trading in Richemont A shares between investors on the SIX Swiss Exchange and the Johannesburg Stock Exchange.

Consequently, the Board has taken the decision to temporarily postpone the issuance of warrants under the proposed shareholder loyalty scheme, to study the possible impact of this contemplated change in cross-border trading.

The Board will therefore no longer propose the creation of a conditional capital as listed under Item 3 ("Creation of a conditional share capital") in the notice of meeting dated 12 August 2020, at its Annual General Meeting (AGM) due on 9 September 2020. The Board's proposal under Item 3 will therefore be withdrawn from the agenda of the AGM.

The Board will submit a revised proposal on the matter at an Extraordinary General Meeting of shareholders, which will be held later this year.


About Richemont

Richemont owns a portfolio of leading international Maisons recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, primarily Fashion & Accessories Maisons, including Alaïa, Chloé, dunhill, Montblanc and Peter Millar.


Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications Director 
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Further information available at www.richemont.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: 09-09-2020 07:05:00
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