The Company “DUTY FREE SHOPS, INDUSTRIAL, MANUFACTURING, TECHNICAL AND BUSINESS COMPANY S.A.”, under the trade name “FOLLI FOLLIE GROUP” announces the following:
1. The Board of Directors of the Company during its meeting on 4.5.2011, decided to sign an MoU with the FOSUN INTERNATIONAL GROUP.
2. In accordance with the MOU, one of the largest private investing groups of China, will be shareholder of Folli Follie Group with 9,5%.
3. To this aim, the share capital of the Company will be increased by € 1.908.000, through issuance of 6.360.000 new common nominal shares, with voting rights, with a par value of € 0,30 and traded value € 13,30 (the total raised capital will be amounted to € 84.588.000), with the preference right of the old shareholders cancelled, in favour of Fosun International.
The Board of Directors has already decided to call an Extraordinary General Assembly on the 26.5.2011 with the necessary issues on the agenda, in order for the participation of Fosun International in the share capital to be effected.
4. Fosun International is a company listed in the Hong Kong Exchange Market since 2007, and has invested in pharmaceuticals and healthcare, property, steel, mining, retail, services and strategic investments. The Group is in cooperation with other groups in the United States, while, since 2010, Fosun International participates with 9,5% in Club Med resorts, aiming to the development of this business in China.
5. The Board of Directors of the Company considers that the achievement of today’s agreement with the companies of Fosun International Group, paves the road for significant investments in our country and, particularly, after a long time, of Chinese capital inflow, and significant synergies in Greece that will follow, as for example, our investor’s involvement in the tourist and travel retail business.
Concurrently, this collaboration with Fosun International will accelerate and enhance the development of Folli Follie Group in China.
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