Europcar Mobility Group Successful C. Eur 50 Million Share Capital Increase With Shareholders’ Preferential Subscription Right
Europcar Mobility Group (Paris:EUCAR) (the “Company”) announces today the results of its capital increase with preferential subscription rights (“Preferential Subscription Right”) of the shareholders for a gross amount, including issue premium, of EUR 50,104,964.79 through the issuance of 263,710,341 new shares (the “New Shares”) at a unit price of EUR 0,19 per new share (i.e. EUR 0.01 nominal value and EUR 0.18 issue premium per new share) (the “Capital Increase with Preferential Subscription Right”).
This transaction was launched on February 4, 2021 and is part of the Company’s accelerated financial safeguard plan approved on January 7, 2021 by the Company’s committee of banks and financial institutions and the general meeting of bondholders, reviewed by the Paris Commercial Court on January 25, 2021 and approved by the Paris Commercial Court on February 3, 2021 (the “Safeguard Plan”).
Following the subscription period which ended on February 19, 2021, the total demand amounted to 529,416,994 shares, i.e. a subscription rate of 200.76%. The number of New Shares subscribed on an irreducible basis (à titre irréductible) concerned 244,076,242 New Shares. The demand on a reducible basis (à titre réductible) concerned 285,340,752 New Shares and will be consequently partially satisfied up to 19,634,099 New Shares. The allocation scale of the subscriptions on a reducible basis (à titre réductible) is joint as an Appendix to this press release.
It is furthermore reminded that the Safeguard Plan also provides for the issuance of new shares:
- (A) in the context of (i) the capital increase with waiver of the shareholders’ preferential subscription rights in favor the noteholders that have committed to subscribe during the open period in accordance with the Lock-Up Agreement (or any assignee of such subscription rights) and the Backstopping Noteholders, to an amount of EUR 199,999,997.921, at the unit price of EUR 0.19 per share, to be subscribed for in cash through a cash payment through the issuance of 1,052,631,5681 new shares (the “Reserved Capital Increase #1”), (ii) the capital increase with waiver of the shareholders’ preferential subscription right in favor of the Noteholders (as this term is defined in the Prospectus), in proportion to their Note Claims (as this term is defined in the Prospectus), on the reference date, to an amount of EUR 1,083,406,220.382, at a unit price of EUR 0.38, to be subscribed by way of set-off against the amount of liquid and payable debts held by the Noteholders, on the reference date through the issuance of 2,851,069,0012 new shares (the “Reserved Capital Increase #2”) and (iii) the capital increase with waiver of the shareholders’ preferential subscription right in favor of the CS Lenders (as this term is defined in the Prospectus), in proportion to their CS Debts (as this term is defined in the Prospectus), at the reference date, to an amount of EUR 50,397,304.683, at a unit price of EUR 0.38, to be subscribed by way of sett-off against the total amount of the liquid and payable CS Debts held by the CS Lenders on the reference date through the issuance of 132,624,4863 new shares (the “Reserved Capital Increase #3”, together with the Reserved Capital Increase #1 and the Reserved Capital Increase #2, the “Reserved Capital Increases”).