Richemont Annual General Meeting 2007

Download the announcement in English

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Bellevue, 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 2007.

A dividend of € 0.054 per Richemont unit will be paid to unitholders on the share capital of Compagnie Financière Richemont SA. The dividend will be payable to holders of ‘A’ and ‘B’ units on 17 September 2007 against presentation of coupon number 8, free of charges but subject to Swiss withholding tax at 35 per cent. The total dividend payable to unitholders will amount to € 30 272 912. No dividend will be paid on units held in treasury by the Group.

The Swiss franc equivalent of the dividend for the purposes of with-holding taxes, calculated at the €/Swiss franc exchange rate prevailing as at the time of the Annual General Meeting of 1.6446, is CHF 0.0888084 per Richemont unit or CHF 49 786 831 in total. The remaining available retained earnings of the Company at 31 March 2007 of CHF 1 081 579 829, after payment of the dividend, will be carried forward to the next business year.

In addition to the Compagnie Financière Richemont SA payment, a dividend of € 1.196 per unit will be paid by Richemont SA, Luxembourg. This consists of an ordinary dividend of € 0.596 and a special dividend of € 0.60 per unit and will be payable to holders of ‘A’ and ‘B’ units without deduction of withholding taxes or charges, on 17 September 2007, against presentation of coupon number 9.

The total dividend for the year, payable by both entities, will therefore be € 1.25 per unit, before deduction of withholding tax.

All other matters on the agenda were approved by the shareholders. All the serving members of the board of directors were re-elected and, in addition, Mrs Anson Chan was elected to the Board.

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument Maisons - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont holds an 19.2 per cent interest in British American Tobacco.