Solocal (FR:LOCAL) has released an update.
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Solocal Group has successfully completed a capital increase of approximately 18 million euros to aid in their financial restructuring, as part of the Modified SFA Plan. The capital increase involved the issuance of over 6 billion new ordinary shares with a mix of irreducible, reducible, and free-of-charge subscriptions, with the unsubscribed shares allocated to Ycor and the Bond Guarantors. This move comes alongside other strategic financial maneuvers including reserved capital increases for bondholders and Ycor, as well as a contribution capital increase involving Regicom shares.
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