Solocal (FR:LOCAL) has released an update.
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Solocal Group has announced the modification and approval of its financial restructuring plan by the Commercial Court of Nanterre, which includes a capital increase that may dilute current shareholder stakes if they don’t participate. The restructuring is set to proceed with an indicative timeline for a capital increase, with key dates spanning from July 3, 2024, for the Board’s decision, to July 31, 2024, for the settlement-delivery of new shares. This move aims to stabilize the Group’s financial situation and facilitate future operations.
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