Monday, November 7, 2016

SoLocal : climbs of more than 10% of its re-listing –

Suspended since 20 October, the action SoLocal has resumed Monday its listing and has secured more than 10% on the Paris stock Exchange after the owner of Yellow Pages, announced late last week a new version of its plan of financial restructuring.

09: 20, the title should accelerate its gains and wins 10,72% to 3,501 euros after you have opened up more than 6%.

After the rejection last month by the shareholders of its plan of financial restructuring, SoLocal has found a new agreement to reduce its debt.

Supported by its main creditors and shareholders, this agreement is intended to be less burdensome for existing shareholders and offers to grant them three free shares for two shares held in the framework of two calls to the market planned to reduce its debt.

This version also provides for a substantial reduction in the number of warrants subscribed for by the creditors, to which one of the two capital increases is as previously reserved.

The association of shareholders RegroupementPPLocal has also indicated that she had been in contact with new investors that may participate in the raising of funds.

According to a source close to the dossier, the public bank Bpifrance were approached, no decision was however made at this stage. (Matthieu Protard, edited by Pascale Denis)


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