Brief: Technicolor: Commercial Court of Paris Approves Financial Safeguard Plan

Vantiva SA

29/07/2020 10:35

July 29 (Reuters) - TECHNICOLOR SA  TCH.PA :
    * ANNOUNCED ON TUESDAY, THE COMMERCIAL COURT OF PARIS
APPROVES
FINANCIAL SAFEGUARD PLAN
    * APPROVAL WILL ALLOW GROUP TO PROCEED WITH DRAWDOWN OF
SECOND
TRANCHE OF NEW FINANCING SCHEDULED FOR END OF AUGUST, IN AN
AMOUNT OF C. EUR 180 MLN
    * RIGHTS ISSUE WITH PREFERENTIAL SUBSCRIPTION RIGHTS IS
EXPECTED
TO BE LAUNCHED IN THE COURSE OF AUGUST
    * FREE WARRANTS WILL ALSO BE ALLOCATED TO EXISTING
SHAREHOLDERS AT
TIME OF LAUNCHING OF RIGHTS ISSUE, WITH 4-YEAR MATURITY AND
STRIKE PRICE EQUAL TO RESERVED CAPITAL INCREASE PRICE
    * FREE WARRANTS WILL GIVE ACCESS TO 5% OF THE SHARE CAPITAL
OF THE
COMPANY ON A FULLY DILUTED BASIS
    * FREE WARRANTS WILL BE ALLOCATED TO LENDERS OF NEW MONEY IN
CONSIDERATION OF LATTER, WITH 3-MONTH MATURITY AND AN EXERCISE
PRICE OF €0.01

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nGNE8Tv7Jv
 Further company coverage:  TCH.PA  
   


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