SoLocal to launch rights subscription period after results publication

By Caroline Salls

Pittsburgh, Jan. 13 – SoLocal Group said its 2016 financial results will be published on Feb. 3, and the company intends to launch the subscription period for a €400 million rights issue included in its restructuring plan soon after the publication of those results.

According to a company news release, the settlement of its various equity operations is expected to take place before March 15.

In addition, SoLocal said the president of the Commercial Court of Nanterre dismissed Benjamin Jayet’s application for interim measures to suspend the implementation of seven resolutions submitted for a vote at a December shareholders’ meeting.

The company said Jayet also formed third-party opposition against the judgment of the Commercial Court of Nanterre approving a change to the accelerated financial safeguard plan.

SoLocal is a Boulogne-Billancourt, France, online communications company.

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