In This Article:
Press release - Paris, July 15th, 2024
Update on the proceedings in relation to
the transfer of 15,9% SMCP stake in 2021
The English High Court has ruled in favour of GLAS
SMCP has been informed that on July 12, 2024, the English High Court, upon request from GLAS SAS (London Branch) as trustee of the exchangeable bonds issued by European TopSoho S.à r.l. (“ETS”), has ruled that the transfer of a 15.9% stake of the Company’s share capital from ETS to Dynamic Treasure Group Ltd (“DTG”) in 2021 was invalid.
It is anticipated that an order will shortly be made by the Judge requiring the return by DTG of the 15.9% stake to ETS, which is currently under liquidation in Luxembourg.
ABOUT SMCP
SMCP is a global leader in the accessible luxury market with four unique Parisian brands: Sandro, Maje, Claudie Pierlot and Fursac. Present in 46 countries, the Group comprises a network of over 1,600 stores globally and 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 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).
CONTACTS
| INVESTORS/PRESS | |
| SMCP | BRUNSWICK |
| Amélie Dernis | Hugues Boëton |
| Tristan Roquet Montegon | |
| +33 (0) 1 55 80 51 00 | +33 (0) 1 53 96 83 83 |
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