Agios Stefanos, November 21st
The company with the trade name “Folli-Follie Commercial Manufacturing and
Technical Société Anonyme” and the distinctive title “FF Group” (hereinafter the
“Company”), following its announcement dated 15 November 2018 and responding
to a respective request by the Hellenic Capital Markets Commission, today provides
the following additional information to the market regarding the application for the
granting of interim protective measures under article 106a par. 6 of Law 3588/2007.
This application was filed on 14th November 2018 with the Athens Single Member
Court of First Instance by approximately 400 employees jointly with the Company.
As already announced by the Company on 15th November 2018, the request by the
above applicants for the granting of a provisional order (until the formal hearing of
the application) was heard on the same day before the Judge of the Athens Single
Member Court of First Instance. The Court rejected the request for the granting of a
provisional order and set the 22nd January 2019, as the hearing date for the
application of protective measures (in accordance with the injunction measures’
process, as provided by the law).
The Company would like to clarify that through the above-mentioned decision, the
Judge of the Athens Single Member Court of First Instance did not reject the
application for the granting of interim protection of the Company from its creditors.
Importantly, it was only the request for interim protection that was rejected. The
Company points out that the reports which refer to a “rejection of Folli Follie’s
application for the granting of interim protection from its creditors” or to a “rejection
of Folli Follie’s application under the Article 106a of the Bankruptcy Code” are
In addition, the Company hereby confirms that on 15th November 2018, a request by
56 investors for the granting of a provisional order, was heard before the Athens Single
Member Court of First Instance, in terms of a provisional-seizure application by the
above investors against the Company, shareholders, executives and auditors thereof.
The Court upheld the request for the granting of a provisional order and temporarily
prohibited the modification in the factual and legal status of the defendants up to the
amount of €2,300,000.00 until the formal hearing of the above application (which was
set for 22/01/2019).
In parallel to the above developments, the negotiations between the Company and its
creditors are ongoing, unhampered and intensive, aiming to achieve a viable
agreement. The Company will revert with a further update for any new development
regarding the above.
This announcement is released by Folli Follie Commercial Manufacturing and
Technical Société Anonyme in compliance with the Market Abuse Regulation (EU)
596/2014 (MAR) and the Rule Book of the Athens Exchange. It contains information
that qualifies as inside information for the purposes of Article 7 of MAR. For the
purposes of MAR and Article 2 of Commission Implementing Regulation (EU)
2016/1055, the person responsible for arranging the release of this announcement on
behalf of the Company is Mantalena Kasidiaropoulou, Head Investor Relations.
Folli Follie Group firstname.lastname@example.org +30 210 6241 000 / +30 210 6241 100
Brunswick Group email@example.com +44 207 404 5959
Azadeh Varzi / Fiona Micallef-Eynaud / Daniel Holgersson