12 February 2019
The company with the name “Folli Follie Commercial Manufacturing and Technical Société Anonyme and the distinctive title “FF Group” (the “Company”) provides the following update to the market.
The Board of Directors resolved during today’s meeting to proceed with the filing of civil lawsuits both in Greece and Hong Kong against the directors of the subsidiary FF Group Sourcing Limited (“FFGS”), who signed FFGS’ financial statements for the fiscal year 2017, namely Messrs. Dimitrios Koutsolioutsos and Law Chiu Chuen, as well as against FFGS’ Chief Financial Officer, Mr. Ioannis Begietis, based on the findings of Alvarez & Marsal, for the damage suffered by the Company and deriving from such persons’ illegal acts and omissions. The Board also resolved to join the ongoing proceedings before the Greek criminal courts as a civil party against the same persons.
The Company reserves the right to pursue legal actions against other persons in the future, in case relevant liabilities arise during the ongoing investigation.
The Company will revert with a further announcement to the market, once said lawsuits are filed.
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.