Sonae Capital SGPS, SA informs about Court decision regarding rehabilitation proceedings for Plysorol

 

 

SONAE CAPITAL SGPS, SA
Lugar do Espido, Via Norte, Maia
Share Capital: 250,000,000 Euro
Maia Commercial Registry and Fiscal Number 508 276 756
Sociedade aberta

 

ANNOUNCEMENT OF MATERIAL EVENT

Sonae Capital, SGPS, SA informs that the Commercial Court of Lisieux (“Tribunal de Commerce de Lisieux”) decided, on 28 November 2008, to open rehabilitation proceedings (“Redressement Judiciaire”) for Plysorol SAS (Plysorol). This judgment was rendered after Plysorol's managers filed for the opening of rehabilitation proceedings on 25 November 2008, as stated in our announcement on that same date.

The Commercial Court of Lisieux appointed two insolvency administrators whose role will be to assist the management team and contact potential purchasers, in order to sell all or part of Plysorol's assets as a going concern.

The judgment commenced a renewable three-month observation period during which the company will continue its activity under the protection of insolvency law and under the supervision of the two insolvency administrators. The court scheduled the next hearing for 25 February 2009.

Sonae Capital will keep the Market informed on the course of Plysorol’s rehabilitation proceedings.


The Representative for Capital Market Relations,


Maia, 2 December 2008