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Solocal Group SA (LOCAL.PA)

LOCAL.PA on Paris Stock Exchange

26 May 2017
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Latest Key Developments (Source: Significant Developments)

Solocal Group Q1 internet revenues up 4 pct at 163 million euros
Tuesday, 25 Apr 2017 01:52am EDT 

April 25 (Reuters) - Solocal Group SA ::Q1 internet revenues 163 million euros ($177.05 million)versus 157 million euros year ago.Q1 local search 119 million euros versus 118 million euros year ago.Outlook for 2017 confirmed.Expected outlook for 2017: 2017 internet revenues growth +3 pct to +5 pct recurring EBITDA 210 - 225 million euros.  Full Article

SoLocal pro-forma net debt at Dec 31 amounts to 344 mln euros
Wednesday, 15 Mar 2017 02:47am EDT 

SoLocal Group SA : Said on Tuesday it finalized the reduction of its financial debt . Pro-forma net debt as at Dec. 31, 2016 amounts to 344 million euros ($365.6 million) .Reinstated gross debt resulting from finalization financial restructuring plan now stands at 398 million euros.  Full Article

Solocal Group announces favourable decision of Court of Appeal of Versailles
Friday, 10 Mar 2017 02:16am EST 

Solocal Group SA : Requested from Euronext Paris that the trading of its shares (local FR0012938884) resumes from the opening of the Paris stock exchange on Friday March 10, 2017 . Says proceedings initiated by Benjamin Jayet for obtaining a decision on merits of annulment of certain decisions taken at December 15 AGM recalled in press release of March 8 are still ongoing . Court of Appeal of Versailles by a decision rendered on March 9, 2017, upheld the order of the President of The Commercial Court of Nanterre of January 13, 2017 . Says settlement and delivery of rights issue and allocation of free shares and settlement of securities subscribe by creditors to occur on March 13 .Says total shares subscribed by creditors pursuant to share capital increase without preferential subscription rights for an amount of 363.2 million euros ($384.6 million)including issue premium.  Full Article

Solocal Group: Capital increase of approx. 398.48 million euros
Friday, 3 Mar 2017 02:00am EST 

Solocal Group SA : Success of capital increase with preferential subscription rights . Capital increase of approximately 398.48 million euros ($419.36 million)(including issue premium), at the subscription price of 1 euro per share . 272,650,250 new shares subscribed in cash by shareholders on an irreducible and reducible basis, corresponding to a cash subscription rate of 68.42 percent, ie 272.65 million euros .Shareholders and new investors will hold 64.20 percent of capital post-restructuring, creditors will hold 35.80 percent.  Full Article

Solocal Group: Launch of capital increase of approx. 398.48 million euros
Thursday, 9 Feb 2017 03:05am EST 

Solocal Group Sa : Announces the launch of its capital increase with preferential subscription rights . Capital increase with preferential subscription rights in the amount of approximately 398.48 million euros ($425.50 million) . Subscription price is 1.0 euro per new share . Subscription period is from Feb. 15, 2017 until Feb. 24, 2017 included . Trading period for preferential subscription rights is from Feb. 13 until Feb. 22 included .The capital increase with maintenance of preferential subcription rights will be open to the public in France only.  Full Article

Solocal Group Q4 revenue falls 2 pct to 210 mln euros
Friday, 3 Feb 2017 01:47am EST 

Solocal Group SA : Q4 revenue down 2 percent to 210 million euros ($225.8 million) . Q4 net profit 10 million euros versus loss 24 million euros year ago . Q4 EBITDA is 58 million euros, +9 pct, EBITDA/revenue margin of 28% . Sees 2017 internet revenue growth: +3 pct to +5 pct . For 2017 expects EBITDA in 210-225 million euro range . "Uncertainties which weighed on achievement of financial restructuring plan have slowed down the last quarter new order performance, which will restrain mid-year 2017 revenue growth" . As of Dec 31, 2016, the group had a net cash position of 91 million euros . Forcasts CAGR 2018-2020 internet revenue growth in high single-digits . Forcasts CAGR 2018-2020 EBITDA growth in high single-digits . For 2018 expects internet revenue growth by 9 percent .For 2018 expects EBITDA growth by 5 percent.  Full Article

Solocal Group says precisions concerning financial restructuring plan
Friday, 13 Jan 2017 10:52am EST 

Solocal Group Sa : Solocal Group says precisions concerning the financial restructuring plan . Solocal Group SA says financial restructuring plan will be quickly launched after publication of full year 2016 results .Solocal Group SA says subscription period for rights issue of about EUR400 million planned with restructuring plan be launched after publication of 2016 results.  Full Article

French court approves amendment to SoLocal safeguard plan
Thursday, 22 Dec 2016 02:09pm EST 

Solocal Group : The Commercial Court of Nanterre has approved the amendment to the 'plan de sauvegarde financiere accelere' of SoLocal Group in accordance with terms of the revised financial restructuring plan approved by the creditors committee on 30 November 2016 and the Extraordinary General Shareholders' Meeting on 15 December 2016. .According to the estimated schedule, the operations of rights issue should thus be realised in Q1 2017..  Full Article

Benjamin Jayet raises SoLocal stake to more than 10 pct - AMF
Wednesday, 14 Dec 2016 08:40am EST 

SoLocal : Benjamin Jayet and partners have raised stake in SoLocal to more than 10 pct . Jayet says he wants to arrive at a more equal-footing between SoLocal's creditors and its shareholders .Jayet has biggest independent shareholding stake in SoLocal.  Full Article

Solocal to decide on revised financial restructuring plan
Friday, 25 Nov 2016 01:48am EST 

Solocal Group SA : Extraordinary General Meeting of 15 December 2016 confirmed to decide on revised financial restructuring plan .Raising of new capital will therefore take place, if revised plan is adopted, exclusively through rights issue of 400 million euros ($423.5 million) at a price of 1 euro per share.  Full Article

More From Around the Web

Fitch Affirms Solocal at 'B-'; Revises Outlook to Stable

(The following statement was released by the rating agency) LONDON, May 12 (Fitch) Fitch Ratings has affirmed Solocal Group's Long-Term Issuer Default Rating (IDR) at 'B-' and the senior secured bond rating at 'B'/'RR3'. The Outlook is revised to Stable from Negative. The Long-Term IDR of 'B-' reflects the evolving business profile of the group with some competitive advantages, low monetisation, robust growth prospects in digital advertising and high operating leverage of the business. The ratin