On 24 September 2019

OPENING OF SAFEGUARD PROCEEDINGS

IN FAVOR OF ORCHESTRA-PREMAMAN

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Orchestra-Prémaman announces that it has requested and obtained, by judgement rendered on 24 September 2019, the opening of safeguard proceedings in its favor for an initial period of 6 months.

As part of these proceedings, the Montpellier specialized commercial court (Tribunal de Commerce spécialisé de Montpellier) has appointed Selarl FHB acting through Maître Jean-François Blanc and Maître Hélène Bourbouloux, and SCP Thévenot Partners acting through Maître Aurélia Perdereau, as co-judicial administrators (co-administrateursjudiciaires) for Orchestra-Prémaman with a supervisory task (mission de surveillance), as well as Maître Vincent Aussel and SCP BTSG, acting through Maître Marc Sénéchal, as co-creditors' representatives (co-mandatairesjudiciaires). In addition, the Montpellier specialized commercial court has also decided today the opening of safeguard proceedings in favor of Yeled Invest, the majority shareholder of Orchestra-Prémaman, and has appointed Selarl FHB acting through Maître Jean-François Blanc and Maître Hélène Bourbouloux as judicial administrators (administrateurs judiciaires) and Maître Vincent Aussel as creditors' representative (mandataire judiciaire)

The observation period, initially set for 6 months, may be extended up to a maximum period of 18 months. During this period, Orchestra-Prémaman will prepare a safeguard plan and operations will continue as usual.

In this context, the Board of Directors of Orchestra-Prémaman has decided to combine the functions of chief executive (directeur général) and chairman of the Board (Président du conseil d'administration), and to appoint Mr Pierre Mestre as chief executive as from 22 September 2019, replacing Mr. Stefan Janiszewski who held this position on an interim basis after the dismissal of Mr Thomas Hamelle on 25 March 2019 because of health reasons.

The Board of Directors would like to thank Mr. Stefan Janiszewski for his work in the position during this transition period.

Information will be regularly disclosed to the market all along the progress of these proceedings.

Orchestra-Prémaman has asked Euronext Paris to resume the listing of its shares (ISIN code FR0013190410 - KAZI) at the opening of the Paris stock market on 25 September 2019.

About safeguard proceedings

Safeguard proceedings, which can last up to eighteen months, aim at protecting companies that are not cash-flow insolvent while giving them sufficient time to reprofile their debt (which could be rescheduled over a period of ten years) and ensure their sustainability. These proceedings suspend, pending the establishment of a safeguard plan, the payment of debts which arose before the opening of the proceedings.

Contacts

ACTIFIN - Stéphane RUIZ - 01 56 88 11 15 - sruiz@actifin.fr

ACTIFIN - Victoire DEMEESTERE - 01 56 88 11 24 - vdemeestere@actifin.fr

ORCHESTRA - PRÉMAMAN

Société anonyme au capital de 12 159 825 €

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

398 471 565 RCS MONTPELLIER

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Orchestra-Prémaman SA published this content on 24 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 September 2019 13:41:01 UTC