Reinet Investments S.c.a. · LUXSE:REINI
Reinet Investments S.c.a — Merger or Acquisition (August 2008)
14 slides from Reinet Investments S.c.a's merger presentation, Aug 8, 2008
Slide 1: Proposed Restructuring of Richemont
Proposed Restructuring of Richemont Distribute 90% of Interest in BAT Creation of Focused Luxury Goods Business Re-instate Investment Holding Structure 8 August 2008
Slide 2: Rationale for Proposed Restructuring of Richemont
Rationale for Proposed Restructuring of Richemont Change in Luxembourg tax legislation was catalyst for proposed restructuring Luxury goods businesses successfully grown into leading market positions with sufficient scale and resources to continue to grow on stand-alone basis Distribute BAT sh
Slide 3: Overview of Group Structure Today
Overview of Group Structure Today Public Rupert Family Interests Public Rupert Family Interests ‘A’ Units ‘A’ and ‘B’ ‘B’ Units Ordinary Shares ‘B’ Shares (SWX and Shares (not listed) (JSE) (not listed) JSE DRs) Compagnie Financière Remgro Limited Richemont S.A. (South Africa) (Switzerland) Ordinary
Slide 4: Steps in Proposed Restructuring
Steps in Proposed Restructuring Step 1 De-twinning of Richemont units Transfer to CFR of luxury goods businesses held by Richemont S.A. Conversion of Richemont S.A. into Reinet Step 2 Partial reduction of capital of R&R Distribution of 90% of BAT shares by Reinet and Remgro Contribution
Slide 5: Outcome of Proposed Restructuring – Part 1
Outcome of Proposed Restructuring – Part 1 Public Rupert Family Interests Public Rupert Family Interests (ex Richemont and Remgro) (ex Richemont and Remgro) Ordinary Shares ‘A’ Shares ‘B’ Shares (Luxembourg Stock Exchange) (SWX and (not listed) JSE DRs) Compagnie Financière Richemont S.A. Reinet Gro
Slide 6: Outcome of Proposed Restructuring – Part 2
Outcome of Proposed Restructuring – Part 2 Public Rupert Family Interests Public Rupert Family Interests (ex Richemont and Remgro) (ex Richemont and Remgro) Ordinary Shares ‘B’ Shares (JSE) (not listed) Ordinary Shares (LSE and JSE) Remgro Limited (South Africa) BAT plc Other (UK) Assets < 27% 5
Slide 7: Overview of Reinet Group Structure
Overview of Reinet Group Structure Reinet Shareholders Reinet Investments Manager S.A. Ordinary Shares (Luxembourg) Reinet Investment Reinet Investments Advisors Limited S.C.A. (Jersey) Management Shares (Luxembourg) Reinet Fund Manager S.A. Ordinary Shares (Luxembourg) Reinet Fund S.C.A. F.I.S. (Lu
Slide 8: Key Characteristics of Reinet Group
Key Characteristics of Reinet Group Legal Luxembourg securitisation vehicle with sole objective to invest in Reinet Fund Structure Reinet Fund a Luxembourg specialised investment fund ‘Board of Overseers’ to overlook interests of shareholders Investment Long term capital growth Objective Man
Slide 9: Investment Track Record of Rupert Family Interests
Investment Track Record of Rupert Family Interests Capital Today IRR in If $1m Invested US Dollar* on Day 1* Period 22-Sep-1988 17.7% $20.9m to 6-Aug-2008 11-Oct-1988 17.4% $15.3m to 6-Aug-2008 14-Mar-2006 33.9% $2.0m to 6-Aug-2008 * Based on capital appreciation and dividends received assuming divi
Slide 10: Key Approvals Required for Proposed Restructuring
Key Approvals Required for Proposed Restructuring CFR shareholder approval at EGM Richemont S.A. shareholder and PC holder approval at EGM Remgro shareholder approval at EGM Admission of Reinet shares on Luxembourg Stock Exchange Continued listing of CFR shares on SWX Admission to tradin
Slide 11: Expected Timetable of Key Events in Proposed Restructuring
Expected Timetable of Key Events in Proposed Restructuring Richemont S.A. EGM(s) and CFR EGM 1-Sep-2008 8-Aug-2008 20-Oct-2008 3-Nov-2008 10-Nov-2008 28-Nov-2008 12-Dec-2008 8/9-Oct-2008 Start of Reinet Settlement of Documents CFR and Reinet Reinet partial rights issue rights issue posted shares tra
Slide 12: Key Benefits of Proposed Restructuring
Key Benefits of Proposed Restructuring Luxury goods businesses and interest in BAT to become separately held investments Contribution to elimination of any holding company discount in current Richemont Unit price Participation in a listed and liquid investment vehicle – With broad access to in
Slide 13: Disclaimer
DISCLAIMER This presentation is not intended for distribution to, or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. This presentation has been prepared by Compagnie Financière Richemont S.A. (“CFR”). No represen
Slide 14: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements that are subject to risks and uncertainties, including those pertaining to the anticipated benefits to be realised from the proposals described herein. This presentation contains a number of forward-looking statements i
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