SMCP Parent Could Be Forced to Cede Control After Bond Default
SMCP Parent Could Be Forced to Cede Control After Bond Default
*DJ SMCP: Majority Shareholder Notified of Failure to Redeem Bonds
*DJ SMCP：大股東收到未能贖回債券的通知
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October 06, 2021 07:05 ET (11:05 GMT)
2021年10月6日07：05美國東部時間(格林尼治標準時間11：05)
*DJ SMCP: Bonds Are Exchangeable Into SMCP Shares Representing 37% of Total Share Capital
*DJ SMCP：債券可兑換為SMCP股份，佔總股本的37%
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October 06, 2021 07:06 ET (11:06 GMT)
2021年10月6日07：06美國東部時間(格林尼治標準時間11：06)
*DJ SMCP: Exchange Pledge Enforceable From Oct. 19
*DJ SMCP：交換承諾從10月19日起強制執行
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October 06, 2021 07:06 ET (11:06 GMT)
2021年10月6日07：06美國東部時間(格林尼治標準時間11：06)
*DJ SMCP: Bond Trustee GLAS Takes Instruction Rights Over 29% of Share Capital
*DJ SMCP：債券受託人Glas接受超過29%股本的指導權
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October 06, 2021 07:07 ET (11:07 GMT)
2021年10月6日07：07美國東部時間(格林尼治標準時間11：07)
*DJ SMCP: GLAS Would Appoint Receiver to Sell Pledged Shares to Third Party
*DJ SMCP：Glas將任命接管人將質押股份出售給第三方
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October 06, 2021 07:08 ET (11:08 GMT)
2021年10月6日07：08美國東部時間(格林尼治標準時間11：08)
*DJ SMCP: Majority Shareholder Has Initiated Legal Proceedings Against Glas
*DJ SMCP：大股東已對Glas提起法律訴訟
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October 06, 2021 07:08 ET (11:08 GMT)
2021年10月6日07：08美國東部時間(格林尼治標準時間11：08)
DJ SMCP Parent Could Be Forced to Cede Control After Bond Default
DJ SMCP母公司可能在債券違約後被迫放棄控制權
By Joshua Kirby
約書亞·柯比(Joshua Kirby)著
SMCP SAS said Wednesday that its controlling shareholder has failed to redeem bonds exchangeable into shares in the company, and that part of its stakeholding could be put up for sale this month.
SMCP SAS週三表示，其控股股東未能贖回可轉換為公司股票的債券，其持有的部分股份可能會在本月掛牌出售。
The French fashion group said it had been informed that majority owner European TopSoho, a Luxembourg-based holding of Chinese conglomerate Shandong Ruyi Technology Group, had defaulted on bonds of 250 million euros ($290 million) due at the end of September. Underlying the bonds are shares in SMCP representing 37% of the company's share capital, with the exchange pledge enforceable from Oct. 19, it said. European TopSoho owns 53% of SMCP's shares.
這家法國時尚集團表示，它已接到通知，中國企業集團山東如意科技集團(Shandong Ruyi Technology Group)的盧森堡控股公司European TopSoho已拖欠9月底到期的2.5億歐元(合2.9億美元)的債券。該公司説，這些債券的標的是SMCP的股份，佔該公司股本的37%，交換承諾將從10月19日起生效。歐洲TopSoho擁有SMCP 53%的股份。
Bond trustee GLAS has meanwhile informed the French markets authority that in light of the default, it is entitled to instruct 35 million SMCP voting rights, or 29% of the total, SMCP said. If GLAS enforces the pledge from Oct. 19, it would appoint a receiver to sell the pledged shares to a third party, the company added.
SMCP説，與此同時，債券受託人Glas已經通知法國市場管理局，鑑於此次違約，它有權指示SMCP擁有3500萬個投票權，佔總投票權的29%。該公司補充説，如果Glas從10月19日起執行質押，它將任命一名接管人將質押的股票出售給第三方。
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
寫信給Joshua Kirby，電子郵件：joshoa.kirby@wsj.com；@joshoaleokirby
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October 06, 2021 07:24 ET (11:24 GMT)
2021年10月6日07：24美國東部時間(格林尼治標準時間11：24)
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