On June 23, 2014, the Board of Directors of FOLLI FOLLIE S.A., under the trade name FOLLI FOLLIE GROUP, decided to continue to implement the existing share buyback program according to the amendment and the new terms decided by the Annual General Meeting of June 20, 2014.

As a result, the Company according to the amendment decided in the General Meeting of 20 June 2014  is intending to buy back shares at the minimum purchase price of four euro (€ 4) per share and the maximum purchase price of forty (€ 40) per share.
The other terms of the program remains the same as decided by the Annual General Meeting of June 14, 2013 i.e. the period of 24 months expires on  June 14, 2015, the maximum amount of shares arises to 6.694.821

It is noted to the investment community that, in accordance with the legislation, the implementation of an approved share buyback program is not mandatory. Accordingly, the Company may, at its discretion, not to implement the program or to purchase fewer shares than the maximum approved by the Annual General Meeting. The program implementation will depend on several factors including, without limitation, the existence of other investment opportunities and the availability of funds.

Finally, the Company is willing to comply in relation to the conduct of the purchase of those shares, as referred to in Article 5 of Regulation 2273/2003 of the European Communities on the price and volume of purchases, and referred to in Article 6 § 1 of that Regulation.