LVMH General Meeting of November 25, 2014 – Exceptional distribution in kind of shares of Hermès International
At the combined general meeting of LVMH Moët Hennessy-Louis Vuitton held today, the shareholders have approved the exceptional distribution in kind offering two (2) Hermès shares for forty-one (41) LVMH shares held (the « Distribution in Kind »).
The main features of the Distribution in Kind are described in a Press Release published on November 3, 2014, available on the company’s website.
The Distribution in Kind will be detached and paid on December 17, 2014.
The amount corresponding to the Distribution in Kind will be computed by using the Hermès International opening share price on December 17, 2014.
The amount of the Distribution in Kind attributed to each LVMH share will, from a tax standpoint, be qualified as (i) a distribution of income up to and including an amount corresponding to an Hermès International share price of 247.62€, and (ii) a repayment of paid-in capital beyond such amount. Shareholders should refer to the Press Release and seek advice from their usual tax advisor on the tax consequences of such qualification on their particular circumstances.