BOULOGNE-BILLANCOURT, France--(BUSINESS WIRE)--Regulatory News:
SoLocal Group (Paris:LOCAL) has been made aware on 22 March 2017, through a declaration published by the AMF, that the concert composed of entities affiliated with the Paulson, Monarch and Amber funds crossed downwards the 10% threshold. The concert would hold today 7.20 % of the share capital and voting rights of SoLocal Group. On 13 March 2017 the concert had indicated that it held 14.20 % of the share capital and 14.19 % of the voting rights of the Company.
The shareholding of the concert would be now as follows, compared to its shareholding following the financial restructuring operations:
Paulson would hold 23,726,313 shares (vs 49,018,750), i.e. 4.12% (vs 8.51%) of the share capital and voting rights
Monarch would hold 7,600,000 shares (vs 22,613,813), i.e. 1.32% (vs 3.92%) of the share capital and voting rights
Amber would hold 10,175,821 shares, i.e. 1.77% of the share capital and 1.76% of the voting rights (no change).
SoLocal Group points out that before receiving a copy of such declaration of threshold crossing, neither the board of directors, nor the executive management had been made aware of these sales of shares, notwithstanding the fact that two representatives of the group of creditors acting in concert are members of the board of directors of SoLocal Group, one as a director and the other as a censor.
As a reminder, in the declaration of intent from the group of creditors acting in concert, published on 20 March 2017, the relevant creditors specified that “they intend to continue their purchases of shares, without excluding selling their shares, in view of their business of investment funds.”
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.