Orchestra Premaman : APPROVAL OF THE CONCILIATION PROTOCOL – INFORMATION ON THE RESTRUCTURING

On 24 July 2018

APPROVAL OF THE CONCILIATION PROTOCOL -

INFORMATION ON THE RESTRUCTURING

Orchestra-Prémaman entered into a conciliation protocol (protocole de conciliation) dated 13 June 2018 with the Orchestra-Prémaman group's (the "Orchestra Group") bank creditors under the syndicated credit agreement and bilateral credit agreements (the "Orchestra Protocol"), for the purpose of allowing the restructuring of the financial indebtedness of the Orchestra Group, and the providing of new money.

I. ORCHESTRA PROTOCOL APPROVAL

The Montpellier Commercial Court approved the Orchestra Protocol on 23 July 2018, in accordance with the provisions of articles L. 611-8 II, L. 611-8 III, L. 611-11 and R. 611-40et seq.of the Commercial Code.

The signing of the legal documentation aiming to implement the financial indebtedness restructuring pursuant to the Orchestra Protocol will occur on 25 July 2018, in accordance with the indicative agenda.

The Montpellier Commercial Court also approved today the conciliation protocol (protocole de conciliation) signed on 26 June 2018 between Yeled Invest, majority shareholder of Orchestra-Prémaman, and its financial creditors.

II. ADDITIONAL FINANCING

Orchestra-Prémaman entered into an agreement dated 11 July 2018 with Banque Themis and a fund lending to the economy (fonds de prêts à l'économie) (the "New Money Providers") for thepurpose of a financing of an amount of 23.5 million euros, secured by a possessory pledge on inventories and benefiting from the new money privilege (privilège de conciliation) provided for in article L. 611-11 of the Commercial Code (the "Additional Financing").

Pursuant to the provisions of this agreement, the legal documentation relating to the Additional Financing was signed on 21 July 2018.

The Additional Financing will be made available to Orchestra-Prémaman in one instalment and in full, at the latest on 7 September 2018.

Contacts

ACTIFIN - Stéphane RUIZ - 01 56 88 11 15 [e-mail] - Victoire DEMEESTERE - 01 56 88 11 24 [e-mail]

ORCHESTRA - PRÉMAMAN

Société anonyme au capital de 22 245 732 €

Siège social : ZAC Saint-Antoine - 200 avenue des Tamaris - 34130 Saint-Aunès

RCS MONTPELLIER 398 471 565

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