Finalizing Restructuring Operations and Implementing New Financing
Damartex today announces the completion of its restructuring operations with its legacy banking partners and the Despature family group, its reference shareholder1 .
The injection of new liquidity and the restructuring of the Group's debt were finalized with today's completion:
- Damartex's legacy banking partners have made available to it state-guaranteed so- called "Resilience" loans totalling €35 Mn in principal;
refinancing of existing RCF lines2 with a new syndicated revolving credit facility for a total principal amount of €120 Mn;
the provision to Damartex by its reference shareholder of a shareholder loan totalling €8.5 Mn in principal;
the continuation of overdrafts granted to Damartex totalling €21 Mn in principal; and
the confirmation of documentary credits for a principal amount of €10.5 Mn, splited between Damart SAS and Damartex UK Ltd.
These transactions were carried out in accordance with the agreement signed by the Group, its legacy banking partners and its reference shareholder on 19 July 2023 and approved by the Lille Métropole Commercial Court on 28 July 20233.
Through J.P.J.D. SCA, which held 55.25% of the Company's share capital and 62.51% of its voting rights as of 30 June 2023.
Refers to the RCF (Revolving Credit Facilities) credit lines totalling €120 Mn with four French banks, which were fully drawn down on the date the agreement was signed.
See the press release dated 20 July 2023 available atwww.damartex.comrelating to the agreement reached by Damartex with its banking partners and its reference shareholder.
PROFILE
The Damartex Group, one of Europe's leading retailers for seniors, aims to become the European leader in the silver economy. It boasts three divisions:
Fashion: Damart, Afibel, Xandres
Home & Lifestyle: 3 Pagen, Vitrine Magique, Coopers of Stortford
Healthcare: Sédagyl , Santéol, MSanté, Medical Santé
The Group operates mainly in Europe, notably in France, the UK, Belgium and Germany. www.damartex.com
CONTACTS
Damartex : Anne-Sylvie Hubert
Tel : +33 3 20 99 44 00 ahubert@damartex.com
Shan :
Alexandre Daudin
Tel : +33 6 34 92 46 15 alexandre.daudin@shan.frAliénor Kuentz
Tel : +33 6 28 81 30 83 alienor.kuentz@shan.fr
KEYS DATES
Annual results:
5 September 2023
Annual financial information meeting: 6 September 2023
Damartex SA published this content on 03 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2023 15:55:23 UTC.
Damartex is one of the European largest distributors for seniors (over 55 years-old), with its eleven names Damart, Afibel and Xandres for the «Fashion» activity, 3 Pagen, Coopers of Stortford, Vitrine Magique and Delaby for the «Home & Lifestyle» activity, Sédagyl, Santéol, MSanté and Medical Santé for the «Healthcare» activity. The group develops an omni-channel strategy differentiated according to the name and country.
Products were being marketed through catalogs, stores and Internet.
The group is mainly present in France, the United Kingdom, Belgium and Germany.
Net sales are distributed geographically as follows: France (51%), the United Kingdom (24.1%), Benelux (16.9%), Germany (6.9%), Switzerland (0.4%) and Austria (0.7%).
DAMARTEX 
