Solocal announced on Monday that the Nanterre Commercial Court had approved the modification of its accelerated financial safeguard plan.

For the record, this project had been approved by 99.8% of the votes cast by the bondholders at their meeting in April.

The court also approved a conciliation protocol designed to materialize the agreement reached on the restructuring of Solocal's 34 million euro interest-bearing senior revolving credit facility (RCF) and its 18.7 million euro interest-bearing mini-bond.

These decisions will enable Solocal to implement the operations planned as part of its financial restructuring, as approved by last month's General Meeting of Shareholders.

Solocal now expects the decision to launch the capital increase with preferential subscription rights of 18 million euros to be taken by the Board of Directors as early as this Wednesday.

Preferential subscription rights will be traded from July 5 to July 22, and new shares from July 9 to July 24, with a view to listing on July 31.

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