Showroomprive.com
Showroomprive.com: Adoption of resolutions allowing the implementation of
the EUR 8-10m capital increase project with maintaining the preferential
subscription right underwritten by founding directors
08-Jun-2020 / 17:47 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
ADOPTION OF RESOLUTIONS
ALLOWING THE IMPLEMENTATION OF THE EUR 8-10m CAPITAL INCREASE PROJECT WITH
MAINTAINING THE PREFERENTIAL SUBSCRIPTION RIGHT UNDERWRITTEN BY FOUNDING
DIRECTORS
La Plaine Saint Denis, 8 June 2020 -. Showroomprivé, a leading European
online retailer specialising in fashion for the Digital Woman, held its
Combined General Meeting on 8 June at 10.00 am in camera, in accordance with
the decision taken by the Board of Directors on 29 April 2020 in the current
context related to the Coronavirus (Covid-19).
All resolutions presented and submitted by the Board were adopted,
specifically those relating to the approval of the parent company and
consolidated financial statements, the reappointment of directors, and the
various authorisations granted to the Board to implement capital increases.
The Board now has the requisite powers to go ahead with the plan to increase
the share capital in cash amounting to around 8 to 10 million euros at a
price of EUR 0.15 per share, with preferential subscriptions rights for all
shareholders, as announced on 30 April this year as part of the refinancing
agreement entered into with its banking partners. The agreement was formally
approved on 28 May 2020.
In accordance with the protocol, the capital increase is expected to be
carried out by 30 November 2020, subject to obtaining an exemption from the
French Financial Markets Authority (AMF) from the mandatory tender offer
requirement which could arise if the founding directors subscribe to the
capital increase. This transaction will be subject to the approval of a
prospectus by the AMF.
As a reminder, the capital increase will be supported by the Company's
founding directors, Thierry Petit and David Dayan. Currently holding 24.25%
of the share capital, would also acquire the preferential subscription
rights (PSR) of the other funders (who hold 8.68% of the capital of
Showroomprivé) Carrefour (which currently holds 20.42% of the share capital)
at a symbolic price of 1 euro to be paid for each block of PSR thus acquired
by each of the assignees.
In order to guarantee the completion of the capital increase, Thierry Petit
and David Dayan, have agreed to underwrite 75% of the capital increase
through the exercise of statutory subscription rights and an additional
amount in oversubscription privileges, thereby ensuring its success.
Showroomprivé will keep the market informed of the upcoming stages of the
capital increase.
Shareholders are encouraged to regularly check the dedicated investor page
on the Company's website: www.showroomprivegroup.com (head to "Shareholders'
area" under the "Investor Relations" section), which will be updated as
required.
ABOUT SHOWROOMPRIVE.COM
Showroomprivé.com is a European player in event-driven online sales that is
innovative and specialized in fashion. Showroomprivé proposes a daily
selection of more than 2,000 partner brands over its mobile applications or
its Internet site in France and in six other countries. Since its creation
in 2006, the company has undergone quick growth.
Listed on the Euronext Paris market (code: SRP), Showroomprivé achieved a
gross business volume with all taxes included of more than 822 million euros
in 2019, and net revenue of 616 million euros. The Group employs more than
950 people.
For more information: https://www.showroomprivegroup.com [1]
CONTACTS
Showroomprivé ACTUS finance &
communication
François de Castelnau, Directeur Grégoire Saint-Marc,
financier Relations Investisseurs
investor.relations@showroomprive.net showroomprive@actus.fr
+33 1 53 67 36 94
Priscilla Le Minter, Communication Alexandra Prisa,
Relations Presse
priscilla.leminter@showroomprive.net aprisa@actus.fr
+33 1 76 21 50 16 +33 1 53 67 36 90
Regulatory filing PDF file
File: Adoption of resolutions allowing the implementation of the EUR 8-10m
capital increase project with maintaining the preferential subscription
right underwritten by founding directors [2]
Language: English
Company: Showroomprive.com
1, rue des Blés - ZAC Montjoie
93210 La Plaine Saint-Denis
France
Internet: showroomprive.com
ISIN: FR0013006558
AMF Category: Inside information / Other releases
EQS News ID: 1065467
End of Announcement EQS News Service
1065467 08-Jun-2020 CET/CEST
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2: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=ae27dc2ca60ab0fec3e691ecac5697a4&application_id=1065467&site_id=vwd&application_name=news
(END) Dow Jones Newswires
June 08, 2020 11:47 ET (15:47 GMT)
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