Results of the 2020 Equity-based Shareholder Loyalty Scheme
AD HOC ANNOUNCEMENT PURSUANT TO ART. 53LR
27 NOVEMBER 2023
RESULTS OF THE 2020 EQUITY-BASED
SHAREHOLDER LOYALTY SCHEME
Compagnie Financière Richemont SA (Richemont) announced today that an overwhelming majority of the 'A' warrants that the Company had issued as part of its Equity-based Loyalty Scheme were exercised by their holders at the end of the exercise period.
In total, 1'032'537'670 'A' warrants were validly exercised during the period, representing 98.90% of the 1'044'000'000 'A' warrants issued. Richemont Employee Benefits Limited, a subsidiary of Richemont, was allocated and exercised warrants replacing the 11'462'330 unexercised 'A' warrants. All 1'044'000'000 'B' Warrants that had been issued to Compagnie Financière Rupert, which holds the Richemont 'B' shares, were exercised. In total, Richemont issued 15'582'089 new 'A' shares and 15'582'089 new 'B' shares further to the exercise of the 'A' and 'B' warrants. Further to this transaction, the Company's share capital now consists of 537'582'089 registered 'A' shares having a par value of CHF 1.00 each, and 537'582'089 registered 'B' shares having a par value of CHF 0.10 each.
The new 'A' shares issued pursuant to the exercise of the 'A' warrants will be delivered to participants to SIX SIS, the Swiss central securities depositary, on 28 November 2023 and are expected to be delivered to participants to Strate, the South African central securities depositary, by 29 November 2023.
About Richemont's Loyalty Scheme
Richemont's Equity-based Loyalty-Scheme was originally created to mitigate the reduction in the cash dividend per share for the year ended March 2020 following the impact of the Covid-19 outbreak, thereby enabling long-term shareholders to acquire new Richemont ‘A’ shares at a potentially beneficial exercise price in three years’ time.
The 'A' warrants that Richemont issued under the scheme have been listed and traded on the SIX Swiss Exchange (Reuters "CFRAO.S" / Bloomberg "CFRAO:SW" / ISIN CH0559601544) and on the Johannesburg Stock Exchange, as a secondary listing (JSE code: "CFRW"). The last day to trade the 'A' warrants was 15 November 2023.
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 .
Richemont ‘A’ shares are listed and traded on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. The ‘A’ shares are also traded on the Johannesburg Stock Exchange, Richemont’s secondary listing.
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;
Media enquiries: +41 22 721 35 07; ;
Please find the Company Announcement available in PDF below:
