Casino Guichard Perrachon SA To Discuss The Launch Of A Safeguard Procedure Relating To Respectively Rallye And Cobivia, HMB, Foncière Euris, Finatis and Euris Conference Call Transcript

Feb 13, 2024

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May 24, 2019 / 06:00AM GMT
Operator

Welcome to the Casino Group Conference Call. I'll hand over to Mr. David Lubek, Chief Financial Officer of the Casino Group. Sir, please go ahead.

David Lubek - Casino, Guichard-Perrachon SociÃ©tÃ©Anonyme-CFO

Hello. Following the announcements made by Rallye on May 23, 2019 of the launch of a safeguard procedure, I received a number of questions from investors and we would like to take the opportunity in this call to answer them. There will be no Q&A session afterwards.

What is a safeguard procedure? A safeguard procedure, which can last up to 18 months, aims at protecting companies which are not in default. It aims at giving time for the company to reschedule its debts in a sustainable way. Until a safeguard plan is agreed, this procedure freezes payments of all outstanding debts at the time of the procedure launch and protects against any actions from creditors, including enforcement of any security rights.

What are the impacts on Casino? First, any impacts on Casino operations? This

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