The Board of Directors of Play Communications S.A. (the “Board of Directors”) (the “Company”), acting pursuant to Article 80 of the Act of 29 July 2005 on Public Offering, the Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies (the “Act”) and Article 10(b) of the Luxembourg Law of 19 May 2006 on Takeover Bids (the “Law on Takeover Bids”), hereby presents the unanimously approved position of the Company’s Board of Directors regarding the tender offer to subscribe for the sale of the shares in the Company announced on 21 September 2020 pursuant to Article 6(1) of the Law on Takeover Bids in connection with Article 90a section 2 of the Act by Iliad S.A. (the “Statement”) (the “Tender Offer”) together with the opinion of J.P. Morgan Securities plc regarding the price offered for the shares in the Company in the Tender Offer (the “Fairness Opinion”).

The Statement and the Fairness Opinion are attached to this current report.

Legal basis: Article 80 of the Act, Article 10(b) of the Law on Takeover Bids

Attachments:

Statement of the Board of Directors of Play Communications S.A. regarding the tender offer to subscribe for the sale of the shares in the Company published on 21 September 2020 by Iliad S.A.

Opinion of J.P. Morgan Securities plc regarding the price offered for the shares in the Company in the Tender Offer.

Statement of the Board of Directors of Play Communications S.A. regarding the tender offer to subscribe for the sale of the shares in the Company published on 21 September 2020 by Iliad S.A. (PDF)   

Opinion of J.P. Morgan Securities plc regarding the price offered for the shares in the Company in the Tender Offer. (PDF)