BRAIT SE - Voluntary announcement: completion of New Look Acquisition

Voluntary announcement: completion of New Look
Acquisition

Brait SE
(Registered in Malta as a European Company)
(Registration No.SE1)
Share code: BAT ISIN: LU0011857645
Share Code: BATP ISIN: MT0000680208
("Brait")

VOLUNTARY ANNOUNCEMENT: COMPLETION OF NEW LOOK ACQUISITION

Brait shareholders are referred to the announcement released
on the website of the Luxembourg Stock Exchange and on the
Stock Exchange News Service of the JSE Limited on 15 May 2015
regarding Brait's proposed acquisition of a c.90% stake in the
New Look Retail Group Limited ("New Look" or "the Company")
("New Look Acquisition").

The board of directors of Brait is pleased to confirm the
completion of the New Look Acquisition. The New Look founder's
family interests and the current management of the Company
have acquired the remaining c.10%.

Furthermore, New Look announced the successful conclusion of
its debt refinancing, which optimises its capital structure,
reduces costs, extends maturities to 2022 and eliminates the
Company’s former PIK loans. In total, New Look Secured Issuer
plc has issued GBP700 million aggregate principal amount of
6.5% Senior Secured Notes due 2022 and EUR415 million
aggregate principal amount of Floating Rate Senior Secured
Notes due 2022, and New Look Senior Issuer plc has issued
GBP200 million aggregate principal amount of 8.0% Senior Notes
due 2023. Interest on the Floating Rate Senior Secured Notes
accrues at three-month EURIBOR plus 4.50%.

26 June 2015

Brait's primary listing is on the Euro MTF market of the
Luxembourg Stock Exchange and its secondary listing is on the
Johannesburg Stock Exchange.

Joint investment banks

Rand Merchant Bank (A division of FirstRand Bank Limited)
Standard Bank
Nomura International plc

United Kingdom attorneys
Linklaters

South African attorneys
DLA Cliffe Dekker Hofmeyr
European legal advisor
M Partners S.a.r.l. (A member of Maitland Legal)

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Brait's primary listing is on the Euro MTF market of the
Luxembourg Stock Exchange and its secondary listing is on the
Johannesburg Stock Exchange.

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