EQS-News

Global Fashion Group S.A.: GLOBAL FASHION GROUP SUCCESSFULLY REPURCHASES PORTION OF ITS OUTSTANDING CONVERTIBLE BONDS DUE 2028

EQS-News: Global Fashion Group S.A. / Key word(s): Miscellaneous Global Fashion Group S.A.: GLOBAL FASHION GROUP SUCCESSFULLY REPURCHASES PORTION OF ITS OUTSTANDING CONVERTIBLE BONDS DUE 2028 24.08.2023 / 17:47 CET/CEST The issuer is solely responsible for the content of this announcement. NOT FOR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR IN OR INTO OR TO ANY PERSON RESIDENT OR LOCATED IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

GLOBAL FASHION GROUP SUCCESSFULLY REPURCHASES A PORTION OF ITS OUTSTANDING CONVERTIBLE BONDS DUE 2028

Luxembourg, 24 August 2023 – Global Fashion Group S.A. ("GFG" or the "Company") hereby announces that it has successfully repurchased outstanding convertible bonds due 2028 issued by GFG (ISIN: DE000A3KMT51) (the "Bonds"), via a modified Dutch auction procedure announced on 22 August 2023. At the close of the modified Dutch auction procedure, the Company has agreed to purchase Bonds representing EUR 27.0 million in aggregate principal amount.

The purchase price per EUR 100,000 principal amount will be EUR 73,000. In addition, the Company will pay interest accrued on the Bonds from and including the immediately preceding interest payment date to but excluding the settlement date of the repurchase, which amounts to EUR 574.05 per Bond. Following the settlements of this EUR 27.0 million in aggregate principal amount repurchase expected to occur on or around 31 August 2023 and the previously announced repurchase of EUR 74.6 million in aggregate principal amount expected to occur on or around 25 August 2023, EUR 178.3 million in aggregate principal amount of Bonds will remain outstanding and EUR 196.7 million in aggregate principal amount of Bonds will be held by the Company in treasury. GFG continues to look at opportunities to reduce its outstanding Bonds.