on SOLOCAL (EPA:LOCAL)
Approval of Amendments to Solocal's Financial Safeguard Plan by Bondholders
On 23 April 2024, Solocal announced that the proposed amendments to its accelerated financial safeguard plan received overwhelming approval, with 99.8% of the votes in favor during the Bondholders’ General Meeting. This meeting took place following a previous favourable judgment by the Nanterre Commercial Court on 6 August 2020.
The successful vote at the Bondholders’ General Meeting is a crucial step towards implementing the amendments needed under the plan. However, these amendments will still require approval from the shareholders of Solocal Group in the upcoming general meeting scheduled for June 2024.
The amendments aim to restructure the financial obligations of the company, though they are contingent upon meeting certain conditions precedent outlined in the press release of 12 April 2024.
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