Announcement: -Folli Follie says assets seizure by investors "merely provisional"

Folli Follie SA

17/05/2019 07:06

The company with the name “Folli-Follie Commercial Manufacturing
and Technical Société Anonyme” and the distinctive title “FF
Group” (hereinafter the “Company”), referring to its
announcements dated 21.11.2018 and 22.1.2019, provides the
following update to the market.
    Following the issuance by the Judge of the Athens Court of
First Instance (the “Court”) of a provisional order dated
15.11.2018, forbidding the legal and factual change (disposal)
of our Company's assets, the Court partially admitted the
injunction measures application filed by 56 investors through
its decision No. 2419/2019, ordering the provisional seizure
(freeze) of our Company's movable and real estate property up to
the amount of 1.8 mil. EUR.
    By virtue of said decision, the applicants imposed a
provisional seizure upon certain of our Company's bank accounts
up to the amount of 1.8 mil. EUR. It should be noted that such
seizure is merely provisional, meaning that the respective funds
are not released, but shall remain blocked in favour of the
applicants, provided their respective lawsuit (which has not
been served to our Company yet) is admitted by an unappealable
court decision. Therefore, any references in the press to
“seizures imposed on Folli Follie's treasury”, “payments to
investors” etc. are not accurate.
    Another injunction measures application filed by a group of
37 investors – requesting the provisional seizure of our
Company's assets up the amount of 1.3 mil. EUR – has been
rejected by the Court through its decision No. 999/2019.
    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