SoLocal Group: Convening of the Extraordinary General Meeting

Regulatory News:

The Board of Directors of SoLocal Group (Paris:LOCAL) has convened an Extraordinary General Meeting, called to approve the revised financial restructuring plan, on 15 December 2016 at Espace Grande Arche of La Défense. The notice of the General Meeting will be published in the BALO (Bulletin des Annonces Légales Obligatoires) on Wednesday 9 November 2016.

Given the agreement on 2 November 2016 with three of its main creditors on a revised plan, the Commercial Court of Nanterre decided to set a new hearing on 16 December 2016 to approve the amendment of the 2014 accelerated financial safeguard plan after the vote of creditors in committee and of shareholders at the General Meeting.

Moreover, the Company has obtained from the President of Commercial Court of Nanterre the opening of a conciliation procedure. Mrs. Hélène Bourbouloux has been appointed as conciliator for a period of four months, possibly renewable for one month.

The opening of the conciliation procedure constitutes an event of default under the documentation of the € 350M 8.875% Senior Secured Notes due 2018 issued by PagesJaunes Finance & Co S.C.A, this event of default has the effect of triggering the automatic acceleration of these notes, as it was already the case for the opening of mandat ad hoc in June 2016. However, this opening has no effect on the the acceleration of SoLocal Group’s debt.

The share quotation of SoLocal Group will resume on Monday 7 November 2016.

About SoLocal Group
SoLocal Group, European leader in local online communication, reveals local know-how, and boosts local revenues of businesses. The Internet activities of the Group are structured around two business lines: Local Search and Digital Marketing. With Local Search, the Group offers digital services and solutions to clients which enable them to enhance their visibility and develop their local contacts. Thanks to its expertise, SoLocal Group earned the trust of some 530,000 clients of those services and over 2.2 billions of visits via its 4 flagship brands (PagesJaunes, Mappy, Ooreka and A Vendre A Louer) but also through its partnerships. With Digital Marketing, SoLocal Group creates and provides Internet users with the best local and customised content about professionals. With over 4,400 employees, including a salesforce of 1,900 local communication advisors specialised in five verticals (Home, Services, Retail, Health & Public, BtoB) and Internationally (France, Spain, Austria, United Kingdom), the Group generated in 2015 revenues of 873 millions euros, of which 73% on Internet and ranks amongst the first European players in terms of Internet advertising revenues. SoLocal Group is listed on Euronext Paris (LOCAL). More information may be obtained at www.solocalgroup.com.

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