The Hermes Family Refute LV: They Will Not Sell Shares.

After the announcement of LV's 17.1% stake in Hermes, Hermes released a press release saying that Hermes family members owned an absolute majority of Hermes and did not intend to sell large quantities of the company's shares.

In October 23rd, LV group issued a press communique that the group increased its holdings of Hermes group and has become the largest shareholder outside the Hermes family heirs.

According to the communique, LV group has invested in 14.2% of Hermes and intends to convert another 2.9% derivatives into equity.

After the announcement, Hermes rose on Monday, closing at 202.85 euros, up 15%.

Hermes responded that after he was informed that some of the shares of the company were traded without authorization, the Hermes family convened a joint meeting of the management and supervisory boards. At the meeting, the Hermes family unanimously demonstrated its firm determination to control the company's shares for a long time.

Hermes said yesterday that in the past ten years, the group has created an average annual net income growth of 10%. Now the group has 700 million euros in liquidity and strong financial strength.

The limited partnership partnership system ensures that the members of the Hermes family have long-term stability control over the company, and family members also confirm that they do not intend to sell large quantities of the company's stock.

Hermes's "anti takeover" speech made its stock price fall rapidly, and its stock price fell to 184.70 euros at 18 yesterday.

At present, shareholders of Hermes family share nearly 3/4 of Hermes. It is reported that 72% of Hermes's shares are scattered in over 40 shareholders, and more than 100 years after the establishment of Hermes, they insist on family holding.