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SoLocal Group Capital/Financing Update 2021
1676_iss_2021-07-15_9797880a-39d2-41c6-81f1-8f581e45b5c2.pdf
Capital/Financing Update
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PRESS RELEASE
Boulogne-Billancourt, 15th July 2021
Partial repayment of the RCF on 30th September 2021 amounting to six million euros, of which three million euros in cash and three million euros in new shares to be issued
- ✓ €6 million partial repayment of the RCF (out of €50 million) on 30th September 2021, out of which:
- o €3 million in cash ;
- o €3 million in new shares to be issued through a reserved capital increase.
- ✓ Shares will be issued at a unit price equal to the volume weighted average price applied between the 12th of August and the 22nd of September 2021 included.
Under the terms of a loan agreement entitled « Super Senior Facility Agreement » entered into on the 29th March 2019, as amended on the 12 th July 2019, 6 th October 2020 and 17th December 2020 (the « RCF »), Solocal Group (the « Company ») informed the credit holders under the RCF that the partial amortisation due on the 30th of September 2021 under the RCF will amount to six million euros (EUR 6,000,000).
After consultation with the creditors holding claims under the RCF, this repayment will be made on the 30th of September 2021, both in cash, up to an amount of three million euros (EUR 3,000,000), and by issuing shares benefiting the creditors holding claims under the RCF who have accepted this partial repayment in shares (and their affiliates, assignees or beneficiaries) (the "Creditors"), up to an amount of three million euros (EUR 3,000,000).
As a reminder, and as announced in a press release dated the 3 rd July 2020, as part of the Company's financial restructuring carried out during 2020, the creditors under the RCF have agreed to convert the pre-existing revolving credit facility into a term loan. On the maturity dates of 30th September 2021 and 30th September 2022, the Company is free to determine, subject to the terms of the RCF, the amount of the relevant amortisations and the method of their settlement, either in cash or by set-off with subscription to a capital increase of the Company, with the aim of reducing the Company's financial debt and reinforcing its equity.
It is also reminded that the General Meeting held on the 3rd June 2021, under the terms of its 22nd resolution, authorised the Board of Directors of the Company to carry out, at such time as it deems appropriate and within the limits provided for by the General Meeting, a reserved capital increase for the benefit of the Creditors for a total maximum nominal amount of twenty million euros (EUR 20,000,000) by creating and issuing new ordinary shares each of a nominal par value of one (1) euro, to be subscribed and paid up in full by set-off with undisputed, liquid and due claims held on the Company (the "Reserved Capital Increase"). The new ordinary shares shall be issued at a unit price equal to the volume weighted average price applied over the 30 consecutive trading days immediately preceding the 5th trading day preceding the issue date, thus between the 12th August and the 22nd of September 2021 included for the repayment on the 30th September 2021.
The Company will disclose to the market the final terms of implementation of the Reserved Capital Increase on the 30th September 2021 as well as its impact in terms of dilution. After this partial repayment of six million euros (EUR 6,000,000) on the 30th September 2021, the outstanding principal amount due under the RCF will be forty-four million euros (EUR 44,000,000).
EN - Solocal - www.solocal.com
Solocal is the digital partner for all local companies in France, from VSEs, to SMBs or Large Companies with networks. Our job; vitalize local life. We strive every day to unveil the full potential of all companies by connecting them to their customers thanks to our innovative digital services. We advise over 314 000 companies all over France and support them to boost their activity thanks to our digital services (Relational Presence, Websites and Digital advertising). We also bring users the best possible digital experience with PagesJaunes, and Ooreka, and our GAFAM* partners. We provide professionals and the public with our high audience services (21M views for PagesJaunes), geolocalised data, scalable technology platforms, unparalleled commercial coverage across France, our privileged partnerships with digital companies and our talents in terms of data, development and digital marketing. Solocal moreover benefits from the "Digital Ad Trust" label. To know more about Solocal (Euronext Paris "LOCAL"): let's keep in touch @solocal
*GAFAM : Google, Microsoft/Bing,, Facebook, Apple, Amazon
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Charlotte Millet +33 (0)1 46 23 30 00 Julie Gualino-Daly [email protected] +33 (0)1 46 23 42 12
Edwige Druon +33 (0)1 46 23 37 56 solocal.com [email protected] Colin Verbrugghe
Press contacts Investor contacts Follow us
+33 (0)1 46 23 40 13 [email protected]
Xavier Le Tulzo +33(0)1 46 23 39 76 [email protected]
