Richemont: considers a simplified structure

(CercleFinance.com) - Compagnie Financière Richemont's Board of Directors has announced its intention to study the possibility of delivering Richemont A shares to holders of South African depositary receipts, thereby cancelling the Company's depositary receipt program in South Africa.


"The contemplated simplified structure is intended to reduce administrative complexity and facilitate cross-border trading in Richemont A shares between investors on the SIX Swiss Exchange and the Johannesburg Stock Exchange," the group said.

The Board has decided to temporarily postpone the issue of warrants under the proposed loyalty program in order to study the possible impact of this envisaged change on cross-border exchanges.

The Board will submit a revised proposal on this matter to an EGM later this year.


Copyright (c) 2020 CercleFinance.com. All rights reserved.