Richemont Annual General Meeting 2010 - decisions of the meeting

08 SEP 2010

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2010.

A dividend of CHF 0.350 per share will be paid on the listed 'A' bearer shares and a dividend of CHF 0.035 per share will be paid on the unlisted 'B' registered shares of the Company. The dividend in respect of the ‘A’ shares will be payable on 16 September 2010 against presentation of coupon number 13, free of charges but subject to Swiss withholding tax at 35 per cent.

The remaining available retained earnings of the Company at 31 March 2010 of CHF 1 600 466 093, after payment of the dividend, are to be carried forward to the next business year.

All other matters on the agenda, including the election of the proposed board of directors and revisions to the Company’s Articles of Incorporation, were approved by the shareholders. In addition to the members of the board standing for re-election, the shareholders appointed Mr Josua Malherbe, Dr Frederick Mostert, Mr Guillaume Pictet, Me Dominique Rochat and Mr Gary Saage to the Board.

During the general meeting, the Chairman also announced that the board meeting held earlier in the day had approved the recommendations of its Nominations Committee with regard to the responsibilities of certain directors with immediate effect. Mr Yves-André Istel had been appointed Deputy Chairman of the Board; Mr Yves-André Istel had been appointed Chairman of the Board’s Audit Committee; Josua Malherbe had been appointed to the Board’s Audit Committee; and Lord Douro had been appointed to the Board’s Compensation Committee.