SMCP Shares to Be Sold by Creditors After Shareholder Default - NewsBreak

Click here to read the full article. PARIS — Following the failure of SMCP's controlling shareholder to redeem bonds by Sept. 30, a 29 percent share has been taken over and will be sold by its creditors. The owner of Sandro, Maje, Claudie Pierlot and De Fursac stated on Friday that it had taken note of trustee GLAS' declaration of crossing of threshold filed with the French Financial Market Authority, or AMF. In its declaration to the AMF, GLAS indicated they had appointed a receiver to sell the shares, amounting to 29 percent of the capital and 22.3 percent of voting...