Folli Follie Commercial Manufacturing and Technical Société Anonyme (the “Company”) provides the following update to the market.
The Company announces that the financial obligation of the Company’s subsidiary, FF Group Finance Luxembourg II SA in the principal amount of CHF150m, which has been guaranteed by the Company, has become immediately due and payable prior to its stated maturity, as a result of the termination by the Bondholders Representative and Principal Paying Agent under the CHF 150,000,000 3.25% Bonds due 2021 (with ISIN CH0385518052) dated 26.10.2018 and the call on the Company’s guarantee of the same date.
As a result of the foregoing and, specifically, due to the fact that said financial obligation has become due and payable prior to its stated maturity, an Event of Default has occurred under condition 10(c) of the terms and conditions of the EUR249,500,000 1.75 per cent. Guaranteed Exchangeable Notes due 2019 issued by FF Group Finance Luxembourg S.A.
This announcement is released in compliance with the relevant provisions of the Market Abuse Regulation (EU) 596/2014 concerning the issuer’s obligation to disclose inside information.