×
27 000
Fashion Jobs
ORIGINS
Manager, Omnichannel Business Analysis, Global Origins
Permanent · New York
ESTÉE LAUDER
Account Coordinator - Estée Lauder - 40Hrs - Macys nw Valley Fair - Santa Clara, ca
Permanent · Santa Clara
ESTÉE LAUDER COMPANIES
Keyholder - Cosmetic Company Store - 20Hrs - Tucscon Premium Outlets - Tucson, az
Permanent · Tucson
H&M
Logistics HR Manager
Permanent · Burlington
H&M
District Visual Manager
Permanent · Chicago
TIFFANY & CO
Technical Support Analyst (Sterling)
Permanent · PARSIPPANY-TROY HILLS
JBCSTYLE
HR Generalist-Manufacturing
Permanent · LOS ANGELES
JARAL FASHION
Licensing Admin - to $70k
Permanent · NEW YORK
NIKE
Product Manager & Data Scientist, Supply Chain Advanced Analytics
Permanent · Portland
NIKE
Application Security Architecture Consultant
Permanent · Beaverton
ESTÉE LAUDER
Vice President, Ecommerce – Estee Lauder North America
Permanent · NEW YORK
AVEDA
Process Coordinator- 2nd Shift
Permanent · BLAINE
ESTÉE LAUDER COMPANIES
Security Manager
Permanent · Bristol
H&M
Expansion Development Controller
Permanent · NEW YORK
DESIGNER BRANDS
Sales Supervisor Part-Time
Permanent · Watchung
JBCSTYLE
Account Executive
Permanent · LOS ANGELES
JBCSTYLE
Director of Trade Marketing
Permanent · NEW YORK
JBCSTYLE
Operations Business Partner
Permanent · LONDON
JBCSTYLE
Global E-Commerce Manager
Permanent · NEW YORK
NIKE
Senior Technology Business Consultant
Permanent · Memphis
NIKE
Senior Marketplace Operations Business Consultant
Permanent · Beaverton
NIKE
Planning & Analytics Manager
Permanent · MEMPHIS

Richemont to ask shareholders permission for conditional share capital increase

By
Reuters API
Published
Aug 7, 2020
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Richemont, the owner of Cartier and Chloé, gave details of its proposed shareholders' loyalty scheme on Friday, where it will give warrants to investors which later can be converted into newly created stock.


Chloe - Spring-Summer2020 - Womenswear - Paris - © PixelFormula



The luxury goods maker said it would ask shareholders at its annual general meeting on September 9 to authorise the creation of new shares which can be exchanged for the warrants after three years.

Richemont proposed the scheme to preserve cash during the COVID-19 pandemic after halving its dividend to 1 Swiss franc (£0.8373) per share.

"Amid the unprecedented effects of the COVID-19 pandemic and the uncertainty surrounding broader economic conditions, the board of directors has decided that it is appropriate to retain an extra liquidity buffer," Chairman Johann Rupert said. "Due to the prevailing uncertainty, we have decided to set the maturity of the warrants at three years, to capture the potential future upside in the market price of Richemont shares, once all the challenges of the COVID-19 pandemic will have hopefully been overcome."

Richemont said in May it was examining a warrant scheme when it announced its full-year results.

The company said last month it had seen "unprecedented levels of disruption" from the pandemic with its sales almost halving in the three months to June 30.

Also on Friday Richemont said it was nominating Wendy Luhabe, former chairwoman of its South African subsidiary Vendome South Africa, to its board of directors.

© Thomson Reuters 2020 All rights reserved.