Exceptional Distribution of Hermes International Shares
December 17 2014 - 8:38AM
Business Wire
Given the Hermès International opening share price on
December 17, 2014 of 280.10 euros, the amount of the
exceptional distribution in kind according to a ratio of two (2)
Hermès shares for forty-one (41) LVMH Moët Hennessy Louis Vuitton
shares, voted for by the Combined Shareholders’ Meeting held on
November 25, 2014, is 13,66 euros per LVMH share.
This amount includes, per LVMH share:
- a portion amounting to 12.08 euros
which qualifies as distributed income for tax purposes,
corresponding to the Hermès share price limit cited in the release
dated November 25, 2014, taking the distribution ratio into
account; and
- a portion amounting to 1,58 euros which
qualifies as a repayment of capital for tax purposes, for the
remaining amount.
With regard to tax treatment, shareholders are invited to refer
to Part 3 of the release published on November 3, 2014, and more
specifically to Section 3.1.1.5 for the portion qualifying as a
repayment of paid-in capital for individuals whose tax residence is
in France.
For tax residents of France, the tax basis of the Hermès shares
received through the distribution is the Hermès opening share price
on this date, December 17, 2014 of 280.10 euros.
The exceptional distribution in kind will result in a reduction
of 7 055 million euros in the Group share of LVMH’s consolidated
equity and the recognition, in the consolidated financial
statements as of December 31, 2014, of an exceptional capital gain
of 2 810 million euros net of tax.
This document is a free translation into English of the original
French “Distribution exceptionnelle d’actions Hermès
International”. It is not a binding document. In the event of a
conflict in interpretation, reference should be made to the French
version, which is the authentic text.
LVMH
LVMH Moët Hennessy Louis Vuitton is represented in Wines and
Spirits by a portfolio of brands that includes Moët & Chandon,
Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier,
Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval
Blanc, Hennessy, Glenmorangie, Ardbeg, Wen Jun, Belvedere, Chandon,
Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle,
Newton et Numanthia. Its Fashion and Leather Goods division
includes Louis Vuitton, Céline, Loewe, Kenzo, Givenchy, Thomas
Pink, Fendi, Emilio Pucci, Donna Karan, Marc Jacobs, Berluti,
Nicholas Kirkwood and Loro Piana. LVMH is present in the Perfumes
and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums
Givenchy, Parfums Kenzo, Perfumes Loewe as well as other promising
cosmetic companies (BeneFit Cosmetics, Make Up For Ever, Acqua di
Parma and Fresh). LVMH is also active in selective retailing as
well as in other activities through DFS, Sephora, Le Bon Marché, la
Samaritaine and Royal Van Lent. LVMH's Watches and Jewelry division
comprises Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred,
Hublot and De Beers Diamond Jewellers Ltd, a joint venture created
with the world’s leading diamond group.
Contacts:Analysts and investors:LVMHChris Hollis+
33 1.4413.2122orMedia:France :DGM ConseilMichel
Calzaroni/Olivier Labesse/Sonia Fellmann/Hugues Schmitt+ 33
1.4070.1189orUK:Hugh Morrison+ 44.773.965 5492orItaly:SEC and
PartnersMichele Calcaterra/ Matteo Steinbach+39 02
6249991orUS:Kekst & CompanyJames Fingeroth/Molly
Morse/Anntal Silver+1 212.521.4800
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