SMCP – Update on the proceedings in the relation with a stake of 15.9% of the share capital

Press release – Paris, September 9^th, 2024

Information on the proceedings in relation to
the sale of a 15.9% stake of SMCP’s share capital in 2021
The Court of Appeal refuses appeals from Dynamic Treasure Group
against the English High Court ruling

SMCP has been informed that the London Court of Appeal has refused applications for permission to appeal, in particular from Dynamic Treasure Group (DTG) against the English High Court decision of 12 July 2024 ruling that the sale of a stake of 15.9% of SMCP’s shares by European Topsoho S.à r.l. to DTG in 2021 was invalid. There are no further rights of appeal. 

GLAS SAS (London Branch) has indicated it now intends to take steps to obtain the forced return of this 15.9% stake in Singapore, where the corresponding shares are currently held.

ABOUT SMCP

SMCP is a global leader in the accessible luxury market with four unique Parisian brands: Sandro, Maje, Claudie Pierlot and Fursac. Present in 46 countries, the Group comprises a network of over 1,600 stores globally and a strong digital presence in all its key markets. Evelyne Chetrite and Judith Milgrom founded Sandro and Maje in Paris, in 1984 and 1998 respectively, and continue to provide creative direction for the brands. Claudie Pierlot and Fursac were respectively acquired by SMCP in 2009 and 2019. SMCP is listed on the Euronext Paris regulated market (compartment A, ISIN Code FR0013214145, ticker: SMCP).

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• SMCP – Press Release – Update on the proceedings in the relation with a stake of 15.9% of the share capital