SOLOCAL (EPA:LOCAL) - Solocal - Partial repayment of the RCF on 30th September 2021 amounting to six million euros

Transparency directive : regulatory news

15/07/2021 08:00

PRESS RELEASE
Boulogne-Billancourt, 15th July 2021

Partial repayment of the RCF on 30th September 2021 amounting to six million
euros, of which three million euros in cash and three million euros in new
shares to be issued

- EUR6 million partial repayment of the RCF (out of EUR50 million) on 30th
  September 2021, out of which:
  o EUR3 million in cash ;
  o EUR3 million in new shares to be issued through a reserved capital
    increase.
- Shares will be issued at a unit price equal to the volume weighted average
  price applied between the 12th of August and the 22nd of September 2021
  included.

Under the terms of a loan agreement entitled " Super Senior Facility Agreement
" entered into on the 29th March 2019, as amended on the 12th July 2019, 6th
October 2020 and 17th December 2020 (the " RCF "), Solocal Group (the " Company
") informed the credit holders under the RCF that the partial amortisation due
on the 30th of September 2021 under the RCF will amount to six million euros
(EUR 6,000,000).

After consultation with the creditors holding claims under the RCF, this
repayment will be made on the 30th of September 2021, both in cash, up to an
amount of three million euros (EUR 3,000,000), and by issuing shares benefiting
the creditors holding claims under the RCF who have accepted this partial
repayment in shares (and their affiliates, assignees or beneficiaries) (the
"Creditors"), up to an amount of three million euros (EUR 3,000,000).

As a reminder, and as announced in a press release dated the 3rd July 2020, as
part of the Company's financial restructuring carried out during 2020, the
creditors under the RCF have agreed to convert the pre-existing revolving
credit facility into a term loan. On the maturity dates of 30th September 2021
and 30th September 2022, the Company is free to determine, subject to the terms
of the RCF, the amount of the relevant amortisations and the method of their
settlement, either in cash or by set-off with subscription to a capital
increase of the Company, with the aim of reducing the Company's financial debt
and reinforcing its equity.

It is also reminded that the General Meeting held on the 3rd June 2021, under
the terms of its 22nd resolution, authorised the Board of Directors of the
Company to carry out, at such time as it deems appropriate and within the
limits provided for by the General Meeting, a reserved capital increase for the
benefit of the Creditors for a total maximum nominal amount of twenty million
euros (EUR 20,000,000) by creating and issuing new ordinary shares each of a
nominal par value of one (1) euro, to be subscribed and paid up in full by
set-off with undisputed, liquid and due claims held on the Company (the
"Reserved Capital Increase"). The new ordinary shares shall be issued at a unit
price equal to the volume weighted average price applied over the 30
consecutive trading days immediately preceding the 5th trading day preceding
the issue date, thus between the 12th August and the 22nd of September 2021
included for the repayment on the 30th September 2021.

The Company will disclose to the market the final terms of implementation of
the Reserved Capital Increase on the 30th September 2021 as well as its impact
in terms of dilution. After this partial repayment of six million euros (EUR
6,000,000) on the 30th September 2021, the outstanding principal amount due
under the RCF will be forty-four million euros (EUR 44,000,000).

EN - Solocal - www.solocal.com

Solocal is the digital partner for all local companies in France, from VSEs, to
SMBs or Large Companies with networks. Our job; vitalize local life. We strive
every day to unveil the full potential of all companies by connecting them to
their customers thanks to our innovative digital services.
We advise over 314 000 companies all over France and support them to boost
their activity thanks to our digital services (Relational Presence, Websites
and Digital advertising). We also bring users the best possible digital
experience with PagesJaunes, and Ooreka, and our GAFAM* partners. We provide
professionals and the public with our high audience services (21M views for
PagesJaunes), geolocalised data, scalable technology platforms, unparalleled
commercial coverage across France, our privileged partnerships with digital
companies and our talents in terms of data, development and digital marketing.
Solocal moreover benefits from the "Digital Ad Trust" label. To know more about
Solocal (Euronext Paris "LOCAL"): let's keep in touch @solocal
*GAFAM : Google, Microsoft/Bing,, Facebook, Apple, Amazon

Press contacts

Charlotte Millet +33 (0)1 46 23 30 00
charlotte.millet@solocal.com

Edwige Druon +33 (0)1 46 23 37 56
edruon@solocal.com

Investor contacts

Julie Gualino-Daly
+33 (0)1 46 23 42 12
jgualino@solocal.com

Colin Verbrugghe
+33 (0)1 46 23 40 13
cverbrugghe@solocal.com

Xavier Le Tulzo
+33(0)1 46 23 39 76
xletulzo@solocal.com

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SOLOCAL (EPA:LOCAL) - Solocal - Partial repayment of the RCF on 30th September 2021 amounting to six million euros

Transparency directive : regulatory news

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