SMCP - Update on the forced proceeding of the related shares
Press release - Paris, January 13th, 2025
Information on the proceedings in relation to the sale of a 15.9% stake in SMCP’s share capital in 2021
Update on proceedings seeking the forced return of the related shares
In 2021, European TopSoho sold 15.9%1 of SMCP share capital to Dynamic Treasure Group. The English courts have declared such sale invalid2 and the related shares, held in Singapore, are currently subject to a freezing order rendered by the Singaporean courts in December 2021, at the request of GLAS SAS.
SMCP has been informed that a hearing will take place on February 6th, 2025, before the Singaporean courts in the context of GLAS SAS application for the forced return of this stake to European TopSoho.
SMCP has also been informed that, in December 2024, the Singaporean courts rejected claims by Wuhu Ruyi Xinbo Investment Partnership (“Xinbo”), a company related to Shandong Ruyi, claiming to have rights over this stake. Xinbo has appealed against this decision.
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 48 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 15 | |
| +33 (0) 1 55 80 51 00 | Tristan Roquet Montegon 57 | |
1 Representing 12,106,939 SMCP shares, corresponding to 15.5% of SMCP’s current share capital (see publication of January 6th, 2025).
2 Refer to the press releases of the Company published on July 15th, 2024 and September 9th, 2024.
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