DJ MHM Corporate: announces the launch of a capital increase with preferential subscription rights for a maximum amount of approximately EUR1.1 million
MHM Corporate
MHM Corporate: announces the launch of a capital increase with preferential subscription rights for a maximum amount of
approximately EUR1.1 million
01-Sep-2026 / 20:00 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Press release
This press release may not be published, distributed or disseminated, directly or indirectly, in or into the United
Kingdom, the United States of America, Australia, Canada or Japan.
MHM Corporate announces the launch of a capital increase with preferential subscription rights for a maximum amount of
approximately EUR1.1 million
-- Subscription price: EUR0.011 per new share, representing a discount of 94.16% to the closing price of 25
August 2026
-- Maximum amount of approximately EUR1,109,287 through a capital increase with preferential subscription
rights ("DPS") in the form of new shares
-- Subscription ratio: 28 new shares for 1 existing share (a 28-fold increase), representing dilution of
approximately 96.6% for shareholders who do not participate in the Operation
-- Concomitantly with the settlement of the Operation, partial early redemption of the Company's ORA through
the delivery of 44,000,000 new shares
-- The Operation is fully guaranteed by subscription commitments received to date
-- Subscription period from 8 to 18 September 2026 inclusive
Paris, France - September 1st 2026, 20:00 - MHM CORPORATE ("MHM") (i) announces the launch of a capital increase with
preferential subscription rights ("DPS"), for a maximum gross amount of EUR1,109,287 (the "Operation"), by issuing up to
100,844,240 new shares at a subscription price of EUR0.011 per new share (the "Price"), on the basis of 28 preferential
subscription rights ("DPS") per existing share, each DPS giving the right to subscribe to 1 new share. The Operation
may be increased by up to 15% in the event of oversubscription, i.e. up to a maximum of 115,970,875 new shares for a
maximum gross amount of EUR1,275,680.
Concomitantly with the settlement of the Operation, and making use of the early redemption clause provided for in the
relevant agreements, the Company will proceed with the partial early redemption of the bonds redeemable in shares
("ORA") held by Mr. Diede van den Ouden (ORA 1 and ORA 2) and by Tonner Drones (ORA 2), through the delivery of
22,000,000 new shares to each of them, i.e. 44,000,000 new shares in total (the "ORA Redemption"). Mr. Diede van den
Ouden and Tonner Drones have each indicated their intention to support the Company over the long term, becoming
supportive and strategic shareholders of the Company.
"With the appointment of the new Board of Directors on 17 July 2026, MHM Corporate completed its restructuring -
marking a fresh start for the Company. This capital increase is a decisive step: it provides the Company with fresh
capital, and I am pleased with the continued support of our financial partners. The Operation is 100% guaranteed, which
gives us a stable financial position going forward. In addition, the number of ORA outstanding will be reduced, as our
financial partners have agreed to convert their ORA into shares - becoming strategic shareholders each holding a 15%
stake," said Rudie Reedijk, Chairman and CEO of the Company.
Company's situation prior to the Operation
Prior to the Operation, the Company's cash position stood at EUR50,037 as at 30 June 2026, the most recent available
date.
The Company's available cash remains very limited. In order to secure the Company's funding until completion of the
Operation, the Company has obtained comfort letters from its principal creditors, Mr. Diede van den Ouden and Tonner
Drones, agreed with the statutory auditors, together with short-term funding agreements intended to cover its cash
needs as bridge financing pending completion of this capital increase.
Objectives of the Operation
The Operation, together with the ORA Redemption, will enable the Company to pursue the following objectives:
-- strengthen the Company's equity and cash position;
-- enable the partial early redemption of the ORA, thereby reducing the Company's financial indebtedness;
-- pay off outstanding supplier debts;
-- settle former liabilities incurred under previous management, for which settlement agreements have been
reached.
The net proceeds of the Operation are intended to be applied as follows:
-- repayment of legacy supplier creditors from previous management, for which settlement agreements are
already in place;
-- costs incurred to date in connection with the Company's restructuring (legal, accounting and statutory
auditor fees) and with the preparation of the Operation;
-- a guarantee commission of 10% payable to the guarantor subscribers, i.e. approximately EUR110,900 (based on
the EUR1,109,000 of subscription commitments received to date), together with other prospectus-related costs;
-- the balance, approximately EUR350,000, retained as working capital.
The Company estimates that, following application of the net proceeds as set out above, its working capital statement
will be positive over a horizon of approximately 12 months from the settlement date.
Following the Operation, the Company will be in a stable financial position, ready to build a healthy business, well
positioned for the future.
The Company is currently working on defining its new strategy and, as of the date of this press release, has not
identified any potential business activity.
Share and DPS Codes
Company LEI Code: 969500SYCOPKNKYE9T19
Listing location: Euronext Paris, Compartiment C
Share label: MHM CORPORATE
ISIN code of the share: FR001400IE67
Share mnemonic: MHM
ISIN code of preferential subscription rights (DPS): FR001401AXXX
Nature and legal framework of the Operation
Making use of the delegation granted pursuant to resolution No. 14 of the Company's combined general meeting of 2
February 2026, the Company's board of directors, at its meeting on 26 August 2026, decided to carry out a capital
increase with maintenance of the DPS and the concomitant partial early redemption of the ORA, the terms of which are
detailed in this press release.
Number of shares to be issued
The maximum total number of new shares to be issued under the Operation, with a nominal value of EUR0.011 each, amounts
to 100,844,240 (or up to 115,970,875 in the event the extension clause described below is exercised in full), at a unit
subscription price of EUR0.011, i.e. maximum gross issue proceeds of EUR1,109,287 (or up to EUR1,275,680 with the extension
clause).
In addition, and concomitantly with the settlement of the Operation, 44,000,000 new shares will be issued to Mr. Diede
van den Ouden and to Tonner Drones as partial early redemption of their ORA, as described above. These shares are
issued pursuant to the ORA agreements and not pursuant to the DPS, and will be issued at the same price as the
Operation, i.e. at par value (EUR0.011 per share).
This number of shares was determined in consideration of the number of shares of the Company currently in circulation,
i.e. 3,601,580 shares as of the date of this press release.
Subscription price
The unit subscription price of a new share is EUR0.011, and must be fully paid up upon subscription.
The subscription price shows a discount of 94.16% compared to the closing price of the MHM Corporate share on 25 August
2026 (EUR0.1885), being the last trading session preceding the setting of the issue price by the board of directors.
This discount level reflects the Company's specific situation: the Company has had no operating activity since the
disposal of its former subsidiaries at the end of 2024, has recorded successive losses, and its capital structure has
been significantly affected by accumulated losses. The price was set at a level considered necessary by the board of
directors to secure the success of the Operation, which the board considers essential to the Company's continued
financial stability, and is consistent with discount levels observed in comparable capital increases carried out by
other French small-cap issuers in financial difficulty.
For information purposes, on the basis of the closing price of 1 September 2026 (EUR0.1785), the theoretical ex-rights
price (TERP) would be EUR0.0168, calculated as (3,601,580 existing shares × EUR0.1785 + 100,844,240 new shares × EUR0.011) /
(3,601,580 + 100,844,240 shares). On this basis, the Price represents a discount of approximately 34.4% to the TERP.
The theoretical value of the 28 DPS attached to one existing share would be EUR0.1617 (the difference between the closing
price and the TERP), representing a theoretical value per individual DPS of approximately EUR0.0058. This individual DPS
value reflects the Company's choice to allocate 28 DPS per existing share, rather than a single DPS per share with a
parity of 28 new shares for 1 DPS, so that each individual DPS remains a small, tradable unit; the aggregate
theoretical value attached to one existing share is unaffected by this choice. These figures are indicative and will be
recalculated on the basis of the official closing price of the Company's share on the trading session preceding the
setting of the definitive terms of the Operation by the board of directors.
Terms of the capital increase
Share capital before the Operation
The share capital of MHM Corporate is composed of 3,601,580 shares, fully subscribed and paid up, with a nominal value
of EUR0.011 each, i.e. a share capital of EUR39,617.38.
By decision of the board of directors of 26 August 2026, the nominal value of the shares was reduced from EUR0.0125 to
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