Paris, March 29th 2012
Big C Thailand, a Casino Group affiliate, announced today that its Board of Directors unanimously approved an equity offering through a private placement of up to 23.6 million shares representing approximately 2.9% of Big C’s share capital.
This capital raising is part of the strategic plan announced by the company in October 2011 which aims at further strengthening its co-leadership in the retail sector in Thailand and becoming a major player in the region.
Big C will use the proceeds from the capital raising to fund its 2012 expansion plan and to reduce leverage. The funds raised will in particular allow the Company to support the roll-out of its proximity format stores. In this regard, Big C has recently announced a partnership with Bangchak Petroleum which provides the potential for 300 mini Big C openings at Bangchak filling stations over the next 5 years.
Taking into account this private placement, the Board of Directors of Big C does not envisage implementing in the short term the rights offering announced in October 2011and intends to reconsider it at an appropriate time.
The private placement is subject to the approval of Big C’s shareholders at the annual general meeting scheduled for 30 April. These shares will be placed to institutional investors by the end of the second quarter of 2012.
This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of, any securities. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States unless they are registered with the U.S. Securities and Exchange Commission or an exemption from the registration requirements of the Securities Act is available.
Press contacts
GROUPE CASINO
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Leslie JUNG – Tel. : + 44 7818 641 803
Ljung@image7.uk.com
Analysts and Investors Contacts
Régine Gaggioli
rgaggioli@groupe-casino.fr
+33 1 53 65 64 17
or
IR_Casino@groupe-casino.fr
+33 1 53 65 64 18
