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Samsonite Group S.A. Regulatory Filings 2012

Jun 18, 2012

50259_rns_2012-06-17_ad131a31-188e-477f-a24e-3965341586a9.pdf

Regulatory Filings

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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Samsonite®

SAMSONITE INTERNATIONAL S.A.

新秀麗國際有限公司*

13-15 Avenue de la Liberté, L-1931 Luxembourg

R.C.S. LUXEMBOURG: B 159469

(Incorporated in Luxembourg with limited liability)

(Stock code: 1910)

Unusual Price and Volume Movements and

Clarification Announcement

This statement is made at the request of The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The board of directors ("the Board") of Samsonite International S.A. (the "Company") has noted the decrease in the price and increase in trading volume of the shares of the Company on Friday, June 15, 2012. The Board has also noted the release of an analyst report on Samsonite by HSBC on June 14, 2012 (the "Analyst Report") and the publication of a press release and an article (the "Articles") by the Hong Kong Consumer Council (the "Consumer Council") on June 15, 2012. The Board wishes to state that other than the Analyst Report and the Articles, the Board is not aware of any reasons for the movements in the Company's share price.

The Board wishes to reiterate that product quality and safety have always been of primary importance to the Company. The Articles published by the Consumer Council include allegations regarding levels of Polycyclic Aromatic Hydrocarbons ("PAH") in the side-carrying handles of three models in the Company's range of luggage, particularly the Tokyo Chic luggage sold under the American Tourister brand. Prior to the publication of the Articles, the Company was made aware of the test results that are cited by the Consumer Council in its report. The Company sent random samples of the products in question to independent test laboratories in Germany and Hong Kong in order to assess the levels of PAH in the handles of these products. The Company's independent test results found PAH levels that were significantly lower than those reported by the Consumer Council.

Based on the independent test results, as well as on expert advice the Company has received, the Company is confident that consumers can continue to use its luggage products without any safety or health concerns. Nevertheless, to allay any concerns that consumers may have in light of the allegations contained in the Articles, the Company has already withdrawn its


Tokyo Chic luggage from all of its points of sale in Hong Kong, and will arrange to replace the side-carrying handles of its Tokyo Chic luggage with the next generation handle for concerned customers in the Hong Kong market.

The Board also notes that there are no legal standards prescribing PAH levels in luggage. The Company continually monitors applicable legal requirements and strives to ensure that its products meet not only legal standards but also the highest standards of product quality and safety.

The Board does not expect the allegations contained in the Articles or the actions being taken by the Company with respect to the Tokyo Chic product in the Hong Kong market to materially affect the Company's financial results.

The Board also confirms that there are no actual or intended acquisitions or realizations which are discloseable under rule 13.23 of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"), neither is the Board aware of any matter discloseable under the general obligation imposed by rule 13.09 of the Listing Rules, which is or may be of a price-sensitive nature.

Made by the order of the Board of the Company, the directors of which individually and jointly accept responsibility for the accuracy of this statement.

By Order of the Board
SAMSONITE INTERNATIONAL S.A.
Timothy Charles Parker
Chairman

Hong Kong, June 18, 2012

As at the date of this announcement, the directors of the Company are:

Executive Directors:
Timothy Parker
Kyle Gendreau
Ramesh Tainwala

Non-executive Directors:
Nicholas Clarry
Keith Hamill
Hardy McLain

Independent non-executive Directors:
Paul Etchells
Miguel Ko
Ying Yeh

  • For identification purposes only