Richemont announces the launch of a new share buyback programme TO HEDGE AWARDS UNDER ITS LONG TERM INCENTIVE PLAN
Compagnie Financière Richemont SA / Key word(s): Miscellaneous
Richemont announces the launch of a new
share buyback programme TO HEDGE AWARDS
UNDER ITS LONG TERM INCENTIVE PLAN
12-May-2023 / 07:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
To read the full announcement click here: Richemont Company Announcement
For a printer-friendly version: Richemont Company Announcement PDF EN
Richemont announces a new programme to buy back up to 10 million ‘A’ shares, representing 1.7 % of the capital and 1.0 % of the voting rights of the Company.
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 buyback programme. The ‘A’ shares to be acquired will be held in treasury to hedge awards to executives and employees under the Group’s long term incentive plan. The initiation of the buyback programme is subject to the authorisation of the Swiss Takeover Board.
Richemont currently holds 4 million ‘A’ shares in treasury. Those shares represent 0.7 % of the capital and 0.4 % of the voting rights of the Company.
About Richemont
At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. 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. Find out more at https://www.richemont.com/.
Richemont ‘A’ shares issued by Compagnie Financière Richemont SA are listed and traded on the SIX Swiss Exchange, Richemont’s primary listing (Reuters ‘CFR.S’ / Bloomberg ‘CFR:SW’ / ISIN CH0210483332). They and are included in the Swiss Market Index (‘SMI’) of leading stocks and the MSCI Switzerland IMI ESG Leaders Index. The ‘A’ shares are also traded on the Johannesburg Stock Exchange, Richemont’s secondary listing (Reuters ‘CFRJ.J’ / Bloomberg ‘CFR:SJ’ / ISIN CH0210483332).
Investor/analyst and media enquiries
Sophie Cagnard, Group Corporate Communications Investor Relations 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
End of Inside Information Language: English Company: Compagnie Financière Richemont SA Chemin de la Chênaie 50 1293 Bellevue Switzerland Phone: +41227213506 E-mail: pressoffice@cfrinfo.net Internet: http://www.richemont.com ISIN: CH0210483332 Valor: 21048333 Listed: SIX Swiss Exchange EQS News ID: 1631333
End of Announcement EQS News Service
1631333 12-May-2023 CET/CEST