OL GROUPE : PRESS RELEASE
Lyon, 3 February 2010
Subsequent to recent articles in the press concerning a letter that was sent by Etienne Tête to the Autorité des Marchés Financiers, OL Groupe reiterates that its financial communication has, from the outset, complied with the regulations and recommendations of the Autorité des Marchés Financiers.
In this regard, recent publications prepared by the company have indicated that to the best of its knowledge and, subject to obtaining the various permits required within the projected timeframes, the Grand Stade should be delivered during the final quarter of 2013.
In relation to the OL Groupe's current capability to finance the Grand Stade project, OL Groupe wishes to point out that its financial structure continues to be very healthy with, notably, €165 million in shareholders' equity, a strong cash position and no debt.
The recent reduction in its revenue, similar to that for most businesses in France and internationally, is not such as to raise concerns about its financial strength. It remains, by far, the strongest of the French clubs committed to the construction of stadia in the prospect that France organises the Euro 2016 tournament (refer to tables in the appendix).
OL Groupe will continue to keep the market informed of all significant developments relating to progress of the Grand Stade project and deplores that Mr Tête should deliberately have addressed a letter to the Autorité des Marchés Financiers containing or referring to untruths and assertions of a nature to intentionally damage the OL Groupe.
|Ranking of the top French football clubs by shareholders' equity in €m||2008/09|
|1) OL Groupe||164.7|
|Ranking of the top French football clubs by net profit in €m||2008/09|
|1) OL Groupe||5.4|
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