Termination of the depository receipt programme
04 APR 2023
Compagnie Financière Richemont SA (the ‘Company’) today announces that holders of depository receipts approved the termination of the depository receipt programme by the requisite majority. The Company also announces that it has obtained the required regulatory approvals to proceed with the previously announced termination of the programme.
The Company will deliver ‘A’ shares to depository receipt holders in a ratio of one ‘A’ share for ten depository receipts and the ‘A’ shares will be listed on the Johannesburg Stock Exchange (the ‘JSE’) as a secondary listing. Further, the ‘A’ warrant receipts will be terminated effective upon termination of the depository receipt programme. Holders of ‘A’ warrant receipts will receive one ‘A’ warrant for each ten ‘A’ warrant receipts, and the ‘A’ warrants will be listed on the JSE as a secondary listing.
The secondary listing of the ‘A’ shares and ‘A’ warrants on the JSE is expected to become effective on 19 April 2023. The relevant ‘A’ shares and ‘A’ warrants are expected to be credited to the securities accounts of South African investors who previously held depository receipts and ‘A’ warrant receipts on 24 April 2023.
At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity, alongside online distributors that cultivate expert curation and technological innovation to deliver the highest standards of service. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.
Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar including G/FORE, Purdey, Serapian as well as Watchfinder & Co. In addition, Richemont operates NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division.
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 on the Johannesburg Stock Exchange, Richemont’s secondary listing.
Investor/analyst and media enquiries
Sophie Cagnard, Group Corporate Communications & IR Director
James Fraser, Investor Relations Executive
Investor/analyst enquiries: +41 22 721 3003;
Media enquiries: +41 22 721 3507; ;
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