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PROCEDURES FOR EXECUTION OF THE CAPITAL INCREASES
Lyon, 12 April 2021
OL Groupe (FR0010428771 / Ticker: OLG) hereby presents the principal procedures for the implementation of an innovative programme enabling the players, staff and managers of its professional teams to convert part of their remuneration into OL Groupe shares (5-25% of salary from February and potentially until June 2021, depending on when stadiums reopen). The programme might also include the payment in shares of all or part of the bonuses awarded on the basis of the on-the-pitch performance of the two teams.
The pandemic and the economic environment have had a severe impact on professional sports, and OL Groupe is pleased that a certain number of the Club's players and staff have already confirmed their intention to subscribe to the programme. This is testimony to their commitment to the sporting and economic future of Olympique Lyonnais, and OL is pursuing discussions with a view to enlarging the group. The programme will enable OL Groupe to improve its cash position and strengthen its shareholders' equity.
Taking into account the uncertainty of sport and the discussions underway, the size of the programme could vary between a minimum of €0.7 million and a theoretical maximum of €6.5 million if the men's and women's professional teams achieve all of the optimum on-the-pitch results and the related bonuses are paid in shares.
PROCEDURES FOR EXECUTION OF THE CAPITAL INCREASES
The capital increases will be decided by the Chairman & CEO through subdelegation from the Board of Directors, and will be carried out in several tranches between May and July and possibly in September 2021. The shares issued will be new shares, with waiver of preferential subscription rights, in accordance with the 16th resolution of the Annual General Meeting of 3 December 2019.
Only a small circle of investors, comprised of professional players and some of the staff and management of the men's and women's teams will be invited to subscribe to these capital increases. They will act on their own behalf, pursuant to Article L.411-2 1° of the Monetary and Financial Code.
The issue price of the shares will be equal to the average of the share prices of the 10 trading days preceding the date on which the subscription price is set. Nevertheless, the subscription price cannot be lower than the weighted average of the share prices of the three trading days preceding the date on which the subscription price is set, less 5%.
A four-day subscription period will open after each decision of the Chairman & CEO.
Shares issued under the first capital increase are to be settled/delivered and admitted to trading no less than two trading days after the subscription period closes.
The new shares will be subject to all of the provisions of the Articles of Association and will be assimilated with existing shares as soon as the capital increase is definitive. They will confer ownership rights and will be admitted to trading on Euronext Paris alongside the shares currently listed under ISIN code FR0010428771 OLG, without distinction.
In accordance with the provisions of Article 211-3 of the General Regulation of the AMF (Autorité des Marché Financiers), no prospectus will be issued or submitted for approval to the AMF.
About OL Groupe
Organised around Olympique Lyonnais, the football club founded in 1950 and headed by Jean-Michel Aulas since 1987, OL Groupe is a leader in the entertainment and media sector in France. Since Olympique Lyonnais' privately-owned stadium came into service in January 2016, new businesses have been developed, in particular major sporting, cultural and corporate events. This has generated new sources of revenue, independent of the Group's core football business.
Tel.: +33 4 81 07 55 00
Fax: +33 4 81 07 45 65
|Euronext Paris - Segment C|
Indices: CAC Small - CAC Mid & Small - CAC All-Tradable - CAC All-Share - CAC Consumer Discretionary
ISIN code: FR0010428771
Bloomberg: OLG FP
ICB: 5755 Recreational services
In France, shares issued under the OL Groupe share issuance programme will be offered exclusively to a restricted circle of investors acting on their own behalf under Article L.411-2 1° of the Monetary and Financial Code and the applicable regulations. Consequently, this press release does not constitute a prospectus submitted for approval to the AMF.
With respect to the member states of the European Economic Area which have implemented Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 (as amended by Directive 2010/73/EU, inasmuch as that directive has been transposed into law in each of the member states of the European Economic Area) (the Prospectus Directive), no action has been undertaken or will be undertaken to make an offer to the public of the securities referred to herein requiring a publication of a prospectus in any member state.
This press release and the information it contains does not constitute an offer to subscribe or purchase shares nor a solicitation of an offer to subscribe or purchase shares in the United States or in any other jurisdiction in which the programme could be subject to restrictions. Marketable securities may not be offered or sold in the United States if they are not either registered or exempt from registration under the US Securities Act of 1933, as amended (the US Securities Act). The shares of the Company have not been and will not be registered under the US Securities Act and the Company does not intend to make a public offer of its securities in the United States or in any other jurisdiction.
The distribution of this document may be restricted by law in certain jurisdictions. Persons in possession of this document are required to inform themselves about any such restrictions and to observe them.
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