Voyageurs du Monde SA announced that it has entered into an investment agreement with new investors Certares Management LLC and France Investissement Tourisme 2 FPS, a fund managed by existing investor Bpifrance Investissement SAS and existing investor Crédit Mutuel Equity SCR for private placement of 882,353 reserved convertible bonds at a price of €85 per bond for gross proceeds of €75,000,000 on March 9, 2021. The bonds will bear capitalized interest at a rate of 3% per annum, payable in arrears and will be issued at par value of €85 each. Each bond is convertible into one common share, subject to the usual adjustments, including anti-dilution adjustments and those relating to the payment of dividends. During the first 4 years after issue, the reserved bonds can only be converted at the request of holders in the event of a change of control of company. As of the 4th anniversary of the issue date and up to maturity, the bonds cannot be converted at any time on the decision of company, or will be automatically converted in the event of a change of control of company. Provided that, the reserved bonds shall be converted into shares, at par, 7 years after the issue date. The reserved bonds may be subject to early redemption under certain usual conditions. Upon completion of transactions, Certares Management LLC will own 860,682 shares or 16.13% stake, France Investissement Tourisme 2 FPS will own 52,964 shares or 0.99% stake, and Crédit Mutuel Equity SCR will own 79,447 shares or 1.49% stake on a fully diluted basis. Certares Management LLC will appoint two non-voting members including Philippe Chérèque and Bpifrance Investissement SAS will appoint one member to the company’s board of directors. The transaction is expected to close in April 2021. The transaction is subject to approval of general shareholders’ meetings.