UPDATE 2-Creditors give France's Thomson SA a respite

* Gets waiver from creditors on covenant breach

* Creditors give company until June 16 to restructure debt

* Q1 sales 915 mln euros, up 3.1 pct at constant currency. (Recasts with Thomson's statement, CEO comments)

By Dominique Vidalon

PARIS, April 27 (Reuters) - The main creditors of Thomson SA (TMS.PA) have given the loss-making French media technology group a waiver until June 16 to restructure its debt, Thomson said on Monday.

The company, which had warned it would breach its debt covenants, now has until its June 16 annual shareholders meeting to continue discussions on how to shore up its balance sheet.

"The goal we now all have is to be able to announce the principles of a deal on June 16," Chief Executive Frederic Rose told reporters during a conference call.

Rose is also taking on the additional role of chairman of the board, the group said in a statement announcing the waiver.

Thomson, which supplies set-top boxes, DVDs and video and telecom equipment, competes with the likes of Motorola (MOT.N), Siemens (SIEGn.DE) and Sony Corp (6758.T).