Determination of the Purchase Price of the Global Tender Offer Launched by Rallye on Its Unsecured Debt and Extension of the Expiration Deadline of the Tender Offer

PARIS--(BUSINESS WIRE)--Regulatory News:

Rallye (Paris:RAL) has decided to (i) extend the expiration deadline of the global tender offer on its unsecured debt launched on 22 January 2021 (the « Tender Offer ») (see Rallye press release dated 22 January 2021), initially set on 5 February 2021 at 5:00 p.m. (Paris time), and (ii) set the purchase price under the Tender Offer at 20% of the amount of the claim.

The new expiration deadline of the Tender Offer has been set on 10 February, 2021, at 5:00 p.m. (Paris time). Rallye will announce the results of the Tender Offer after this new expiration deadline.

Consequently and subject to the conditions set out below:

• valid offers submitted as part of the Tender Offer and accepted by Rallye will be repurchased on the basis of a purchase price equal to 20% of the amount of the claim (i.e. the maximum purchase price initially set by Rallye);
• the valid offers submitted by creditors before today, at 5:00 p.m. (Paris time) will not be subject to any pro-ration factor on the amount of their claims repurchased under the Tender Offer; and
• only the valid offers submitted by creditors as from today at 5:00 p.m. (Paris time) and until 10 February 2021 at 5:00 p.m. (Paris time), will be subject, if any, to a pro-ration factor on the amount of their claims repurchased, in the event that the maximum amount of €75 million allotted by Rallye to the Tender Offer is exceeded.

The other terms of the Tender Offer, in particular the expected settlement date of the Tender Offer, remain unchanged.

Completion of the Tender Offer is, inter alia, subject to (i) the approval by the Paris Commercial Court of the amendment to the Rallye’s safeguard plan in order to authorize the effective completion of the Tender Offer and the setting up of the financing of the Tender Offer and (ii) the availability of the proceeds of the new financing (see Rallye’s press release dated 22 January 2021). Rallye will seek such approval immediately after announcing the results of the Tender Offer and subject to such results.

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