Split of Richemont units and related depository receipts - update
06 Nov 2001
Further to the announcement issued on 7 June 2001, Richemont 'A' equity units, which are listed on the SWX Swiss Exchange and traded on virt-x, will be split in the ratio 100:1 with effect from Monday, 12 November 2001.
Richemont 'A' units currently trade in the region of SFr 3 300. Following the 100:1 split, the 'A' unit will trade at some SFr 33.00.
South African DR programmeWith effect from the same date, the ratio of Richemont Securities Depositary Receipts ('DRs'), which are traded on the JSE Securities Exchange South Africa, to Richemont 'A' units will also be amended. In consequence, the DRs will effectively be split in the ratio of 10:1 with effect from Monday, 12 November 2001.
Following the split of the 'A' units and the amendment to the DR : 'A' unit ratio, DRs will trade in the ratio of 10 DRs to each 'A' unit. (Up to 12 November 2001, the ratio remains 100 DRs to each 'A' unit.)
Richemont DRs currently trade at some Rand 190.00. Following the effective 10:1 split, the DRs will trade in the region of Rand 19.00.
ADR programmeRichemont, through the Bank of New York, operates a sponsored ADR programme in the United States. The terms of that programme will also be amended with effect from 12 November 2001, such that ADRs will trade at parity with the underlying 'A' units. (Up to 12 November 2001, ADRs will continue to trade in the ratio 100 ADRs to each 'A' unit.)
The consolidation of the ADR : 'A' unit ratio effectively offsets the split in the underlying 'A' unit such that the trading range of the ADRs will be unchanged.
Swiss exchange - 'A' units
|Old security number : 160 986||New security number : 1 273 145|
|Old ISIN : CH0001609863||New ISIN : CH0012731458|
JSE Securities Exchange South Africa - South African Depositary
|Receipts Old ISIN : CH0001609723||New ISIN : CH0013157380|
Mr Alan Grieve
Telephone: + 41 41 710 33 22
Telefax: + 41 41 711 71 38