Process for the Bondholders wishing to obtain the New Shares they are entitled to following the Capital Increase with Preferential Subscription Rights carried out on 6^th October 2020:

At the end of the subscription period of the Capital Increase with Preferential Subscription Rights on 29^th September 2020, the number of New Shares subscribed on an irreducible and reducible basis amounted to 4,763,176,572 shares, representing a subscription amount of 142.89 million euros.

Consequently, the Board of directors of the company decided, on 2^nd October 2020, to implement the subscription commitments undertaken by the Bondholders in accordance with the terms of the Amended Safeguard Plan in order to request their subscription to the Capital Increase with Preferential Subscription Rights in the amount of 6,435,410,357 unsubscribed New Shares, representing a total subscription amount of €193,062,310.71 to be paid up (i) in cash for an amount of €939,609.78 (i.e. 31,320,326 New Shares) and (ii) by set-off against their receivables under the Bonds for an amount of €192,122,700.93 (i.e. 6,404,090,031 New Shares). The New Shares thereby subscribed by set-off against receivables under the Bonds have been distributed among all Bondholders in proportion of their respective holdings in the amount of the Bonds.

Pursuant to the Amended Safeguard Plan, the New Shares intended for Bondholders who did not grant, prior to 24^th September 2020, any power of attorney to Glas, acting as restructuring agent, to subscribe, on their behalf, to the New Shares to be subscribed in accordance with the implementation of the subscription commitment by way of set-off (the "Defaulting Bondholders") shall be kept in the books of the Caisse des Dépôts et Consignations, under the supervision of Mr. Christophe Basse, acting as Commissaire à l’exécution du Plan de Sauvegarde Modifié (the "CEP", meaning the trustee appointed by the Commercial Court of Nanterre in charge of overseeing the implementation of the Amended Safeguard Plan).

Any Defaulting Bondholder may, until 1^st September 2024, notify the CEP of its status and its intention to receive the New Shares he/she is entitled to receive and that could not have been delivered directly to him/her. To do so, such Defaulting Bondholder shall complete and return the form available here, along with the supporting documents mentioned therein, to the following addresses:

SELARL C Basse

Maître Christophe Basse

Email: [email protected]

+33 (0) 1 47 25 68 03

Attention: Nadia Douidi;

With a copy to :            GLAS SAS

Email: [email protected]

+33 (0)1 87 16 40 40

Attention: Aymeric Mahe / Joanne Brooks

After having checked the identity of the Bondholder and his/her rights with Solocal Group, the CEP will instruct the Caisse des Dépôts et Consignations to deliver the New Shares to the relevant Bondholder on the securities account provided by the latter. 

After 1^st September 2024, the unallocated New Shares shall be transferred to the Company free of charge in accordance with the provisions of the Amended Safeguard Plan.