Very strong support from Casino Group's shareholders and creditors meeting as classes of parties affected by the draft accelerated safeguard plans
Paris, 12 January 2024
Aurélia Perdereau, Hélène Bourbouloux and Frédéric Abitbol, in their capacity as judicial administrators of Casino, have transmitted to Casino Group the results of the vote of all classes of affected parties on the draft accelerated safeguard plans of Casino and certain of its subsidiaries1, details of which are set out in the Appendix to this press release.
The results of the votes of the creditors grouped into classes of parties affected at Casino level are as follows:
RCF and TLB creditors not benefiting from the elevation mechanism (class n°1) voted in favor of the plan with 100% of the votes cast ;
RCF creditors benefiting from the elevation mechanism (class n°2) voted in favor of the plan by 100% of the votes cast ;
EMTN, high yield and treasury bonds creditors (class n°3) voted in favor of the plan by 68.55% of the votes cast ;
The creditors under the guarantee granted by Casino to the beneficial owners of the Quatrim high yield bond issue (class no. 4) voted in favor of the plan by 95.84% of the votes cast ;
Casino's sole creditor in class 5 (GPA, in respect of a guarantee granted in its favor) abstained from voting on Casino's proposed accelerated safeguard plan ;
Creditors holding perpetual subordinated notes (class no. 6) voted in favor of the plan by 75.62% of the votes cast ; and
Casino shareholders (class no. 7) voted in favor of the plan by 98.87% of the votes cast.
Out of the 17 classes of affected parties of the relevant Casino subsidiaries, 16 classes approved the draft accelerated safeguard plans by the required majority (more than 2/3). Green Yellow Holding, the sole creditor in class no. 2 of Casino Participations France under a guarantee granted in its favor, voted against the adoption of Casino Participations France's draft accelerated safeguard plan.
Appendix
Result of the vote of the classes of affected parties on the draft accelerated safeguard plans
Casino, Guichard-Perrachon
Class no. 1 (TLB and RCF creditors not benefiting from the elevation mechanism)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
3,311,376,854.57 euros
3,145,458,877.50 euros
94.99%
3,145,458,877.50 euros
100%
0.00 euro
0%
Class no. 2 (RCF creditors benefiting from the elevation mechanism)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
891,303,615.26 euros
891,303,615.26 euros
100%
891,303,615.26 euros
100%
0.00 euro
0%
Class no. 3 (creditors holding EMTN and high-yield bonds and Treasury bond)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
2,470,422,939.58 euros
1,805,715,084.08 euros
73.09%
1,237,787,165.50 euros
68.55%
567,927,918.58 euros
31.45%
Class no. 4 (creditors in respect of the guarantee granted by Casino to the beneficial owners of the Quatrim high-yield bond issue)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
574,425,354.17 euros
523,490,600.00 euros
91.13%
501,730,450.00 euros
95.84%
21,760,150.00 euros
4.16%
Class no. 5 (unsecured creditor - GPA)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
1.00 euro
0.00 euro
0%
0.00 euro
0%
0.00 euro
0%
Class no. 6 (creditors holding perpetual subordinated notes)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
1,384,663,350.00 euros
774,535,162.12 euros
55.94%
585,761,073.13 euros
75.62%
188,837,407.73 euros
24.38%
Class no. 7 (existing shareholders)
Result of votes cast
Number of shares comprising the share capital as of 20 December 2023: 108,426,230
Voix valablement exprimées
IN FAVOR
%
AGAINST
%
116,366,767 actions
98.87%
1,328,240 actions
1.13%
Casino Finance
Class no. 1 (TLB and RCF creditors not benefiting from the elevation mechanism)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
2,092,111,342.05 euros
1,956,695,537.80 euros
93.53%
1,956,695,537.80 euros
100%
0.00 euro
0%
Class no. 2 (RCF creditors benefiting from the elevation mechanism)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
891,303,615.26 euros
891,303,615.26 euros
100%
891,303,615.26 euros
100%
0.00 euro
0%
Class no. 3 (creditors holding high-yield bonds issued by Quatrim)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
398,963,253.33 euros
363,586,863.55 euros
91.13%
348,473,498.21 euros
95.84%
15,113,365.34 euros
4.16%
Casino Participations France
Class no. 1 (creditors holding high-yield bonds issued by Quatrim)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
574,425,354.17 euros
523,490,600.00 euros
91.13%
501,730,450.00 euros
95.84%
21,760,150.00 euros
4.16%
Class no. 2 (unsecured creditor - Green Yellow Holding)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
1.00 euro
1.00 euro
100%
0.00 euro
0%
1.00 euro
100%
Class no. 3 (holders of rights under the subordination agreement)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
4,156,003,552.05 euros
3,992,691,097.73 euros
96.07%
3,992,691,097.73 euros
100%
0.00 euro
0%
Distribution Casino France
Class no. 1 (TLB and RCF creditors not benefiting from the elevation mechanism)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
1,859,879,903.84 euros
1,732,160,724.30 euros
93.13%
1,732,160,724.30 euros
100%
0.00 euro
0%
Class no. 2 (RCF creditors benefiting from the elevation mechanism)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
873,351,155.94 euros
873,351,155.94 euros
100%
873,351,155.94 euros
100%
0.00 euro
0%
Class no. 3 (creditors holding high-yield bonds issued by Quatrim)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
170,532,666.67 euros
155,411,399.14 euros
91.13%
148,951,349.32 euros
95.84%
6,460,049.82 euros
4.16%
Monoprix
Class no. 1 (TLB and RCF creditors not benefiting from the elevation mechanism)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
340,393,108.61 euros
331,877,547.96 euros
97.50%
331,877,547.96 euros
100%
0.00 euro
0%
Class no. 2 (RCF creditors benefiting from the elevation mechanism)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
711,271,972.46 euros
711,271,972.46 euros
100%
711,271,972.46 euros
100%
0.00 euro
0%
Class no. 3 (creditors holding high-yield bonds issued by Quatrim)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
213,165,833.33 euros
194,264,248.93 euros
91.13%
186,189,186.65 euros
95.84%
8,075,062.28 euros
4.16 %
Quatrim
Class no. 1 (creditors holding high-yield bonds issued by Quatrim)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
574,425,354.17 euros
523,490,600.00 euros
91.13%
502,769,616.67 euros
96.04%
20,720,983.33 euros
3.96%
Class no. 2 (holders of rights under the subordination agreement)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
4,156,003,552.05 euros
3,992,691,097.73 euros
96.07%
3,992,691,097.73 euros
100%
0.00 euro
0%
Ségisor
Class no. 1 (TLB and RCF creditors not benefiting from the elevation mechanism)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
382,897,235.21 euros
369,410,576.27 euros
96.48%
369,410,576.27 euros
100%
0.00 euro
0%
Class no. 2 (RCF creditors benefiting from the elevation mechanism)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
41,619,360.47 euros
41,619,360.47 euros
100%
41,619,360.47 euros
100%
0.00 euro
0%
Class no. 3 (creditors holding high-yield bonds issued by Quatrim)
Result of votes cast
Voting rights
Total votes cast
IN FAVOR
AGAINST
49,032,723.57 euros
44,684,952.87 euros
91.13%
42,827,514.98 euros
95.84%
1,857,437.89 euros
4.16%
This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.
