Press release - Paris, January 6, 2021
SMCP capital threshold crossing declaration
The Company has taken note today of the declaration of crossing of the threshold filed with the French Financial Markets Authority (Autorité des marchés financiers) by GLAS, in its capacity as Trustee under the bonds exchangeable into SMCP shares issued in September 2018 by European TopSoho SARL, main shareholder of SMCP.
As part of this declaration, GLAS indicates, following a notification of default on these bonds, that it is now entitled to instruct 34,792,512 voting rights of the Company corresponding to 29% of the voting rights of the Company attached to the shares underlying these bonds (it being specified that the total number of the SMCP shares underlying these bonds represents 34% of the Company's capital and that the ownership of these shares has not been transferred to GLAS).
GLAS has also indicated that it is not considering taking control of the Company.
The board of directors of SMCP will meet shortly to examine the consequences of this information.
SMCP is a global player in the accessible luxury market with four unique Parisian brands: Sandro, Maje, Claudie Pierlot and De Fursac. Present in 41 countries, SMCP is a fast-growing company which reached the milestone of €1bn in sales in 2018. The Group comprises a network of over 1,500 stores globally plus a strong digital presence in all its key markets. Evelyne Chetrite and Judith Milgrom founded Sandro and Maje in Paris, in 1984 and 1998 respectively, and continue to provide creative direction for the brands. Claudie Pierlot and De Fursac were respectively acquired by SMCP in 2009 and 2019. SMCP is listed on the Euronext Paris regulated market (compartment A, ISIN Code FR0013214145, ticker: SMCP).
Célia d’Everlange Hugues Boëton
Tristan Roquet Montegon