Richemont’s two-year share buy-back programme announced on 16 May 2012 ended today. Under the programme, the Company repurchased a total of 6 980 620 ‘A’ shares, representing 1.2 % of the capital and 0.7 % of the voting rights of Compagnie Financière Richemont SA.
In addition, Richemont announces a new programme to buy-back up to 10 million Richemont ‘A’ shares through the market over the next three years, representing 1.7 % of the capital and 1.0 % of the voting rights of Compagnie Financière Richemont SA.
Purchases may 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 buy-back programme. The ‘A’ shares to be acquired will be held in treasury to hedge awards to executives under the Group’s stock option plan.
Richemont currently holds 11.3 million ‘A’ shares, representing 2.0 % of the capital and 1.1 % of the voting rights of the Company, in treasury as a consequence of previous buy-back programmes, which have also been linked to the Group’s stock option plan.
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