|The Extraordinary General Meeting of Shareholders approves the Company's restructuring plan (2014/11/03 8:00 PM)|
THEOLIA's Extraordinary General Meeting of Shareholders, which gathered in Aix-en-Provence today, November 3, 2014, adopted, at a majority higher than 95%, the proposed restructuring plan.
Shareholders present, represented or who voted by post, gathering 41.45% of the shares admitted for voting, therefore approved all the resolutions recommended by THEOLIA's Board of Directors, in particular:
· the resolution relating to the approval of the restructuring plan;
· the capital reduction in the amount of 84,366,063.60 euros motivated by losses, carried out by reducing the par value of the shares from one euro and forty cents (€1.40) to ten euro cents (€0.10);
With the approval of its bondholders and shareholders and as soon as the Financial Markets Authority (Autorité des marches financiers, AMF) gives its approval, THEOLIA will perform the capital increase of approximately 60 million euros, which will enable to proceed to the early partial redemption of a portion of the convertible bond. The amendments to the terms of the convertible bond will allow to split the remaining amount due into four installments, distributed over the next five years.
The completion of this plan will enable both to strengthen the Company's shareholders' equity and to reduce the bond debt. On the basis of this healthier financial situation, THEOLIA will be able to actively carry on its development.
The voting results and the presentation to the Extraordinary General Meeting of Shareholders are available on the Company's website www.theolia.com.