SoLocal: Favourable Decision of the Court of Appeal of Versailles

Share quotation resumes

BOULOGNE-BILLANCOURT, France--()--Regulatory News:

The Court of Appeal of Versailles by a decision rendered on 9 March 2017, upheld the order of the President of the Commercial Court of Nanterre of 13 January 2017, dismissing Mr Benjamin Jayet's application for interim measures suspending, pending a decision on the merits, the implementation of the resolutions adopted at the General Meeting of 15 December 2016 relating to the rights issue and the issuance of securities under the financial restructuring plan (as well as the prior capital reduction). The proceedings initiated by Mr Benjamin Jayet for the purpose of obtaining a decision on the merits of annulment of certain decisions taken at the General Meeting of 15 December 2016 recalled in the press release of 8 March 2017 are still ongoing.

SoLocal Group (Paris:LOCAL) has requested from Euronext Paris that the trading of its shares (LOCAL FR0012938884) resumes from the opening of the Paris Stock Exchange on Friday 10 March 2017.

The settlement and delivery of the rights issue and allocation of free shares, as well as the settlement and delivery of the securities subscribed by the Company’s creditors (shares, MCB), will occur on 13 March 2017. In this respect, the total number of shares subscribed by the Company’s creditors pursuant to the share capital increase without preferential subscription rights, for the benefit of the Company’s creditors, is 80,542,087 shares (instead of 80,366,971 shares initially computed), for an amount of €363.24 million (including the issue premium) based on final computations.

The shareholders and new investors will hence hold 64.18% of capital post-financial restructuring, the creditors will hold 35.82%1.

It is recalled that at the resumption of the quotation of the share, the price of the shares will be adjusted technically as a result of the detachment of free shares in accordance with market practices.

About SoLocal Group

SoLocal Group, European leader in local online communication, reveals local know-how, and boosts local revenues of businesses. The Internet activities of the Group are structured around two business lines: Local Search and Digital Marketing. With Local Search, the Group offers digital services and solutions to clients which enable them to enhance their visibility and develop their local contacts. Thanks to its expertise, SoLocal Group earned the trust of some 490,000 clients of those services and over 2.4 billions of visits via its 4 flagship brands (PagesJaunes, Mappy, Ooreka and A Vendre A Louer) but also through its partnerships. With Digital Marketing, SoLocal Group creates and provides the best local and customised content about professionals. With over 4,400 employees, including a new orders force of 1,900 local communication advisors specialised in five verticals (Home, Services, Retail, Health & Public, BtoB) and Internationally (France, Spain, Austria, United Kingdom), the Group generated in 2016 revenues of 812 millions euros, of which 80% on Internet and ranks amongst the first European players in terms of Internet advertising revenues. SoLocal Group is listed on Euronext Paris (LOCAL). More information may be obtained at www.solocalgroup.com.

1 Before taking into account the dilution of the MCBs.

Contacts

Press
Delphine Penalva
+33 (0)1 46 23 35 31
dpenalva@solocal.com
or
Edwige Druon
+33 (0)1 46 23 37 56
edruon@solocal.com
or
Alexandra Kunysz
+33 (0)1 46 23 47 45
akunysz@solocal.com
or
Investors
Sébastien Nony
+33 (0) 1 46 23 49 03
snony@solocal.com

Contacts

Press
Delphine Penalva
+33 (0)1 46 23 35 31
dpenalva@solocal.com
or
Edwige Druon
+33 (0)1 46 23 37 56
edruon@solocal.com
or
Alexandra Kunysz
+33 (0)1 46 23 47 45
akunysz@solocal.com
or
Investors
Sébastien Nony
+33 (0) 1 46 23 49 03
snony@solocal.com