The af Jochnick family transferred part of its ownership of Oriflame Cosmetics to a charitable trust in 1981. It is now the family's desire to simplify the structure in order to focus on supporting medical research and other charitable causes. For this reason a formal transfer of ownership has today been effected.
The Progress Settlement has today transferred all of its 4,498,849 depositary receipts in Oriflame Cosmetics SA to the Stichting af Jochnick Foundation.
The transfer represents 7.6 per cent of the share capital and votes of the Company. After the transaction the af Jochnick Foundation will own the same number of depositary receipts that the Progress Settlement previously owned.
The af Jochnick Foundation is a Netherlands foundation with the goal of supporting medical research and other charity.
Questions with regards to this should be directed to Robert af Jochnick, Chairman of the af Jochnick Foundation and Oriflame Cosmetics SA.
For additional information, please contact: Robert af Jochnick +46 708 22 36 04
The press release can also be downloaded from the following link:
Oriflame Cosmetics is an international cosmetics company selling direct, with sales in 55 countries. Oriflame offers a complete range of high quality skincare, fragrances and colour cosmetics, marketed through a sales force of independent Sales Consultants. Although the company has grown rapidly it never lost sight of its original business concept - natural Swedish cosmetics, sold from friend to friend. Oriflame is a co-founder of World Childhood Foundation. Oriflame Cosmetics is listed on the Stockholm Exchange.