On December 3, 2003, Compagnie Générale des Etablissements Michelin (“CGEM”) issued €500 million worth of 6.375% lowest ranking subordinated notes due December 3, 2033 (“TSRs”). The notes are redeemable in cash and are traded on NYSE Euronext Paris under ISIN FR0010034298.
A detailed description of the TSRs can be found in the prospectus approved by the French securities regulator (Autorité des Marchés Financiers) on November 27, 2003 under visa no.03-1057 (“the Prospectus”). Copies of the Prospectus are available free of charge from the websites of the Autorité des Marchés Financiers (www.amf-france.org) and CGEM (www.michelin.com/corporate, in the "Debt" section), as well as from the Company’s headquarters, CGEM, 12, cours Sablon, 63000 Clermont-Ferrand.
TSR holders are hereby advised that on December 3, 2013 (“the Early Redemption Date”) CGEM will redeem all of the outstanding TSRs, as provided for in article 18.104.22.168 of the Prospectus. The TSRs will be redeemed at par plus accrued interest for the period from and including December 3, 2012 (the last interest payment date) to but excluding the Early Redemption Date, calculated in accordance with the notes’ terms and conditions. They will be cancelled in accordance with the terms specified in the Prospectus.
This press release is not an offer to purchase or a solicitation to recommend the purchase of Michelin shares. To obtain more detailed information on Michelin, please consult the documents filed in France with Autorité des Marchés Financiers, which are also available from the www.michelin.com website.
This press release may contain a number of forward-looking statements. Although the Company believes that these statements are based on reasonable assumptions as at the time of publishing this document, they are by nature subject to risks and contingencies liable to translate into a difference between actual data and the forecasts made or inferred by these statements.