Marie Brizard Wine & Spirits: Postponement of the Capital Increase project to the 1st quarter of 2021 - Update on the disposa...
December 22 2020 - 1:56PM
Marie Brizard Wine & Spirits: Postponement of the Capital
Increase project to the 1st quarter of 2021 - Update on the
disposal of Moncigale
Charenton-le-Pont, December 22, 2020
Postponement of the Capital Increase
project to the 1st quarter of 2021
Update on the disposal of
Moncigale
Marie Brizard Wine &
Spirits (Euronext: MBWS) announced today that the launch
of the proposed capital increase with shareholders' preferential
subscription rights for a maximum overall amount (issue premium
included) of approximately €105.3 million (the "Capital
Increase") will not take place before the end of 2020.
Discussions concerning the formalization of the
agreement in principle on the amendment of a Scotch Whisky supply
contract are still ongoing between the Company and its supplier,
and relate in particular to the reduction of the minimum volume
commitments to be borne by the Group in the event of the occurrence
of contingencies linked to Brexit or changes in macro-economic
conditions.
As of today, the conclusion of a definitive
agreement between the Group and its supplier, which constitutes a
condition precedent to the subscription commitments made by its
majority shareholder to the Capital Increase, remains uncertain. As
a result, the Capital Increase, initially planned for the end of
2020, is currently postponed to a later date which could occur at
the beginning of 2021 in the event of the conclusion of the
above-mentioned agreement or the waiver by COFEPP of this
condition.
The launch of the Capital Increase remains
subject to the delivery by the Autorité des marchés financiers
("AMF") of its approval of the prospectus relating
to the operation and the maintenance by the AMF of the exemption
from the obligation to file a public tender offer delivered to
COFEPP on December 8, 2020.
The circa. €7 million current account advance by
COFEPP is also subject to the formalization of the aforementioned
agreement in principle with the Group's supplier.
In this context, the Company has today entered
into a new amendment to the refinancing agreement reached on
December 20, 2019 between the Company and COFEPP (the "Refinancing
Agreement"), in order to postpone the deadline for the launch of
the Capital Increase to March 15, 2021 at the latest and to specify
the terms and conditions for the possible conclusion of the
agreement with the supplier, specifically that the conclusion of
such agreement will not be deemed fulfilled if it cannot permit a
sustainable recovery of the Company.
Update on the proposed sale of
Moncigale
MBWS also announces that the
information-consultation procedure with the employees of Moncigale
and Marie Brizard Wine & Spirits France in connection with the
proposed sale of Moncigale was finalized on November 30, 2020.
However, the completion of the sale of Moncigale remains subject to
the transaction approval by the French Competition Authority.
Subject to this authorization, the sale should be completed by the
end of January/early February 2021.
Financial calendar
- Publication of fourth quarter revenue on
February 11, 2021.
About Marie Brizard Wine & Spirits
Marie Brizard Wine & Spirits is a Group of
wines and spirits based in Europe and the United States. Marie
Brizard Wine & Spirits stands out for its expertise, a
combination of brands with a long tradition and a resolutely
innovative spirit. From the birth of the Maison Marie Brizard in
1755 to the launch of Fruits and Wine in 2010, the Marie Brizard
Wine & Spirits Group has developed its brands in a spirit of
modernity while respecting its origins.Marie Brizard Wine &
Spirits' commitment is to offer its customers brands of confidence,
daring and full of flavours and experiences. The Group now has a
rich portfolio of leading brands in their market segments,
including William Peel, Sobieski, Fruits and Wine, Marie Brizard
and Cognac Gauthier.Marie Brizard Wine & Spirits is listed on
Compartment B of Euronext Paris (FR0000060873 - MBWS) and is part
of the EnterNext PEA-PME 150 index.
ContactImage Sept Claire
Doligez- Flore Largercdoligez@image7.fr / flarger@image7.frTél :
+33 1 53 70 74 70
- MBWS - PR - Postponement of the Capital Increase project to the
1st quarter of 2021 ENG
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