The company with the name “Folli Follie Commercial Manufacturing and Technical Société Anonyme” with the distinctive title “FF Group” (hereinafter the “Company”) announced the launch of the Consent Solicitation Process addressed to the holders of the €249,500,000 1.75 per cent Guaranteed Exchangeable Notes due 2019 (hereinafter the “Eurobonds”) and to the holders of the CHF 150,000,000 3.25 per cent Notes due 2021 (hereinafter the “Swissbonds”). Through this process, the Company is seeking, among others the approval of its rehabilitation agreement and the relevant Term Sheet.
Provided that the above noteholder meetings approve the proposed resolutions, the Company will meet the required threshold of its creditors for the execution of its rehabilitation agreement pursuant with articles 106b and 106d of the Bankruptcy Code and the filing thereof before Athens Multi-Member Court of First Instance.
Respective consents will be solicited from the holders of the €31m and €20m Schuldschein due in 2021.
The Chairman of the Board and Chief Executive Officer of the Company, Mr. George Samios, made the following statement:
“Today we achieved the most important step so far towards the restructuring and rescue of the business activity of the Company and its Group. Provided the required consents of our bondholders are achieved, the Company will be able to proceed with its financial and operational restructuring. We have already demonstrated a notable endurance in the period of the pandemic and the execution of the rehabilitation agreement will be the capstone of the efforts of all employees of the Group and our associates, whom I sincerely thank”.
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 Section 4.8 of 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.