Rémy Cointreau: Combined General Meeting of 21 July 2022

Rhea-AI Summary

The Combined General Meeting of Rémy Cointreau shareholders took place on 21 July 2022 in Paris. The meeting approved the financial statements for 2021/22 and set the ordinary dividend at €1.85 per share, along with an exceptional dividend of €1.00 per share, with options for cash or shares. Dividends will go ex-dividend on 27 July 2022 and be paid from 3 October 2022. Governance changes include renewing several directorships and appointing Alain Li as an independent director. Marie-Amélie de Leusse will succeed Marc Hériard Dubreuil as Chair of the Board.

Positive

• Approval of €1.85 ordinary dividend per share.
• Approval of €1.00 exceptional dividend with cash or share options.
• Renewal of key directorships and addition of experienced independent director Alain Li.
• Change in governance expected to strengthen leadership in the luxury sector.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Regulatory News:

The Combined General Meeting of Rémy Cointreau (Paris:RCO) shareholders was held on 21 July 2022 in Paris, under the last chairmanship of Marc Hériard Dubreuil.

Dividend distribution:

This meeting approved the financial statements for the 2021/22 financial year and set the amount of the ordinary dividend at €1.85 per share in cash. It also approved the payment of an exceptional dividend of €1.00 per share, for which it decided to give each shareholder the option of receiving payment in cash or in shares.

The dividends (ordinary and exceptional) will go ex-dividend on 27 July 2022 and be paid from 3 October 2022. Shareholders who wish to opt for the payment of the dividend in shares will have a period of time between 29 July 2022 and 19 September 2022 inclusive to make a request to their financial intermediary. Shareholders who have not exercised their options by 5 p.m. on 19 September 22 will only be able to receive their dividends in cash, as of 3 October 2022.

The issue price of the new share is set at €155.72.

If the amount of the net dividend to which the shareholder is entitled does not equate to a whole number of shares, the shareholder may obtain the number of shares immediately above by paying the difference in cash on the day of exercising the option or receive the number of shares immediately below plus a cash balance.

The new shares will be subject to all legal and statutory provisions and will carry dividend rights as from 1^st April 2022, the beginning of the current financial year. They will be issued in registered or bearer form, at the shareholder’s choice. Shareholders will receive a request for instructions, which they must complete and sign and return, from the financial intermediary with whom their shares are held.

A request will be made for the new shares to be traded on Euronext Paris.

Change in governance:

The meeting approved the renewal of the directorships of Hélène Dubrule, Olivier Jolivet, Marie-Amélie de Leusse and the ORPAR company for a period of three years.

The meeting also approved the appointment of Alain Li as an independent director for a period of three years, replacing Marc Hériard Dubreuil, who will now represent ORPAR. The appointment of Alain Li will ensure a stronger representation on the Board of Directors of executives with extensive experience in Asia and within the luxury sector.

In addition, as part of the long-prepared succession plan, the Board of Directors, meeting today following the General Meeting, decided to change the governance of the Rémy Cointreau Group as follows:

• Appointment of Marie-Amélie de Leusse as Chair of the Board of Directors, replacing Marc Hériard Dubreuil
• Appointment of Caroline Bois as Vice-Chair of the Board of Directors, replacing Marie-Amélie de Leusse
• Appointment of Jérôme Bosc as non-voting member of the Board of Directors of Rémy Cointreau, replacing Jacques Hérail.

As Marie-Amélie de Leusse can no longer sit on the Appointments and Remuneration Committee in her capacity as Chair of the Board of Directors, and as Gisèle Durand no longer represents Orpar, Caroline Bois and Elie Hériard Dubreuil join the Appointments and Remuneration Committee.

The Board of Directors consists of 12 members and 3 non-voting members. Its proportion of women (42%) and independent members (58%) is fully in line with the AFEP-MEDEF recommendations.

About Rémy Cointreau

All around the world, there are clients seeking exceptional experiences; clients for whom a wide range of terroirs means a variety of flavors. Their exacting standards are proportional to our expertise – the finely-honed skills that we pass down from generation to generation. The time these clients devote to drinking our products is a tribute to all those who have worked to develop them. It is for these men and women that Rémy Cointreau, a family-owned French Group, protects its terroirs, cultivates exceptional multi-centenary spirits and undertakes to preserve their eternal modernity. The Group’s portfolio includes 14 singular brands, such as the Rémy Martin and Louis XIII cognacs, and Cointreau liqueur. Rémy Cointreau has a single ambition: becoming the world leader in exceptional spirits. To this end, it relies on the commitment and creativity of its more than 1,900 employees and on its distribution subsidiaries established in the Group’s strategic markets. Rémy Cointreau is listed on Euronext Paris.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220721005839/en/

Investor Relations: Célia d’Everlange / +33 6 03 65 46 78

Media Relations: Carina Alfonso Martin / press@remy-cointreau.com

Source: Rémy Cointreau

FAQ

What is the dividend declared by Rémy Cointreau for 2022?

Rémy Cointreau declared an ordinary dividend of €1.85 per share and an exceptional dividend of €1.00 per share.

When will the dividends for Rémy Cointreau go ex-dividend?

The dividends will go ex-dividend on 27 July 2022.

Who is the new Chair of the Board of Directors at Rémy Cointreau?

Marie-Amélie de Leusse has been appointed as the new Chair of the Board of Directors.

What changes were made to the governance of Rémy Cointreau?

Changes include the appointment of Marie-Amélie de Leusse as Chair and Alain Li as an independent director.

What is the issue price for the new shares offered during the dividend payment?

The issue price for the new shares is set at €155.72.