Capital restructuring at DOLFINES

DOLFINES, an expert in energy engineering, is entering the final phase of its financial restructuring, which began in September 2023. An Extraordinary General Meeting is scheduled for September 16, 2024, aimed at strengthening the company's capital structure.

CEO Adrien Bourdon Feniou emphasizes that reducing debt, recapitalizing and stabilizing shareholders are essential to turn the situation around. Memoranda of understanding with bank and bond creditors are in the process of being signed, allowing debt repayments to be frozen and extended. Thesiger International, controlled by the CEO, is notably buying back convertible bonds.

The Meeting will propose a significant reduction in capital to clear previous losses, followed by share consolidations. A capital increase of €2.88 million is also envisaged to strengthen the cash flow, with a significant participation of employees and corporate officers.