Solocal Group’s Major Capital Increase Initiative

Solocal (FR:LOCAL) has released an update.

Solocal Group announces a significant capital increase through preferential subscription rights aiming to raise €18 million as part of its financial restructuring. The rights issue will offer new shares at €0.003 each, available from 9 July to 24 July 2024, with a subscription ratio of 91 new shares for every 2 existing shares. This move is backed by guarantees from Ycor and Backstopping Bondholders, aligning with the company’s amended accelerated financial safeguard plan.

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