PRESS RELEASE
RESULTS OF THE CAPITAL INCREASE WITH
SHAREHOLDERS’ PREFERENTIAL SUBSCRIPTION RIGHTS FOR
AN AMOUNT OF APPROXIMATELY
The number of New Shares subscribed on an irreducible basis (à titre irréductible) and reducible basis (à titre réductible) amounts to 20,039,121 shares representing 18.10% of the Rights Issue and will be fully allocated, it being specified that in accordance with its subscription commitment, BPI subscribed, on an irreducible basis (à titre irréductible), for 8,370,251 New Shares (i.e. approximately € 25 million).
In accordance with the terms of the Safeguard Plan and with the provisions of article L. 225-134 of the French Commercial Code, the holders of claims due by the Company under (i) the facility agreement of circa
Settlement and delivery
The settlement-delivery and admission to trading of the New Shares is scheduled for
Concurrently with the settlement and delivery of the New Shares, the Company will also proceed with:
- the settlement and delivery of a capital increase with cancellation of the shareholders' preferential subscription right in favour of the holders of Claims, for a gross amount, including the issue premium, of
EUR 329,999,996.60 , through the issue of 92,178,770 new shares at a unit price ofEUR 3.58 , to be subscribed exclusively by way of set-off, at par, against the balance of the non-reinstated Claims (the “Reserved Capital Increase”); - the delivery to the New Money lenders, in consideration of their contribution to the Group of a sum equivalent to approximately
EUR 420 million (net of costs and commissions) (the “New Money”), of 17,701,957 free warrants (the “New Money Warrants”) exercisable for a period of 3 months, giving the right to subscribe to a maximum number of 17,701,957 new shares, at the price ofone cent (EUR 0.01 ) per new share (without issue premium) and representing approximately 7.5% of the Company's share capital after the Rights Issue, the Reserved Capital Increase but before the exercise of the Shareholder Warrants (as this term is defined below); and - the delivery to all the Company's shareholders, registered in account on
7 August 2020 , of 15,407,114 free warrants (the “Shareholders Warrants“), on the basis of one (1) Shareholders Warrant for one (1) existing share, five (5) Shareholders Warrants giving the right to subscribe for four (4) new shares for a 4 year period, which may result in the issue of a maximum number of 12,325,691 new shares, at a price ofEUR 3.58 per new share. The Shareholders Warrants shall be admitted to trading on Euronext Paris as from22 September 2020 under the ISIN code number FR0013526225.
A further press release from the Company will be published following the completion of the above settlement and delivery operations in order to provide the new shareholding structure of the Company.
Public Information
The issue of the New Shares and of the Shareholders Warrants as well as the admission to trading on the regulated market of Euronext Paris of the shares issued in the context of the Rights Issue, the Reserved Capital Increase and the shares to be issued upon exercise of the Shareholders Warrants and the New Money Warrants were the subject of a prospectus having received approval number 20-343 from the AMF dated
Copies of the Prospectus are available free of charge at the registered office of Technicolor, 8-10 rue du Renard - 75004 Paris, on the Company's website (www.technicolor.com) as well as on the AMF website (www.amf-france.org).
The Company draws the public's attention to the risk factors described in section 3.1 of chapter 3 of the Universal Registration Document forming part of the Prospectus, in section 2 of the Amendment to the Universal Registration Document and in chapter 2 of the Securities Note.
Disclaimer
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No communication and no information in respect of this transaction may be distributed to the public in any jurisdiction where a registration or approval is required. The issue, the subscription for or the purchase of Technicolor’s shares may be subject to specific legal or regulatory restrictions in certain jurisdictions. Technicolor assumes no responsibility for any violation of any such restrictions by any person.
This press release, the information it includes, do not constitute an offer to sell or subscribe for, or a solicitation of an order to buy or subscribe for Technicolor securities in
The release, publication or distribution of this press release may, in certain jurisdictions, constitute a breach of the applicable local laws and regulations. Consequently, persons physically present in such jurisdictions in which this press release is released, published or distributed must must be aware of and comply with any such local restrictions. This press release must not be released, published or distributed, directly or indirectly, in
This announcement is an advertisement and not a prospectus within the meaning of Regulation (EU) No 2017/1129 of the
With respect to the Member States of the European Economic Area other than France and with respect to the
This document does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in
About Technicolor:
www.technicolor.com
Technicolor shares are admitted to trading on the regulated market of Euronext Paris (TCH) and are tradable in the form of American Depositary Receipts (ADR) in
Investor Relations
Christophe.lemignan@technicolor.com
Attachment
- 09-16-2020_Result of the right offering_VUS
Source: TECHNICOLOR
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