Solocal Announces Result of €18 Million Rights Issue

Solocal Group has completed a rights issue with preferential subscription rights totaling €18,012,629.27. The offering involved the issuance of 6,004,209,757 new ordinary shares at €0.003 per share. The transaction is part of the company's financial restructuring under its Amended Accelerated Financial Safeguard Plan (AFS Plan).

The subscription results were as follows: 3.26 billion shares on an irreducible basis, 669 million shares on a reducible basis, and 130 million shares on a voluntary basis. Due to under-subscription, 1.95 billion shares were allocated to Ycor and Backstopping Bondholders. Settlement and delivery of the new shares are scheduled for 31 July 2024.

The proceeds will repay part of a revolving credit facility, cover transaction costs, and fund new projects. The total number of new shares to be issued under the Amended AFS Plan is 35.77 billion. These shares will begin trading on Euronext Paris under ISIN code FR00140006O9.