Richemont announces the end of the share buy-back programme initiated in May 2014 and the launch of a new programme
12 May 2017
Richemont’s three-year share buy-back programme announced on 15 May 2014 ended today. Under the programme, the Company repurchased a total of 5 185 000 ‘A’ shares, representing 0.9 % of the capital and 0.5 % of the voting rights of Compagnie Financière Richemont SA. Richemont’s share purchase history can be found on the Company’s website.
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 will 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 9.4 million ‘A’ shares in treasury as a consequence of previous buy-back programmes, which were also linked to the Group’s stock option plan. Those shares represent 1.6 % of the capital and 0.9 % of the voting rights of the Company.
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 Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.