Specialist Theolia wind blows. His financial restructuring plan has been approved by its shareholders, "an overwhelming majority," March 19 last.
The group headed by Eric and Peugeot will be able to launch its capital increase of between EUR 45 and EUR 100 million, by August 31, 2010, according to a statement released Monday.
Announcing (end December 2009) the need to raise these funds, investors had reacted very badly on the stock market – securities Theolia have plunged over 15% in session – for fear of being heavily diluted.
But this capital increase is part of the agreement by Theolia with its major creditors to reduce its heavy debt cash advance america.
The group has negotiated to modify the terms of his contract issuance convertible bonds (bonds convertible into new or existing shares) amounting to 253 million euros.
In exchange for a lower conversion price of convertible bonds, and partial reimbursement of their immediate Theolia got its bondholders a reduction and an extension of its outstanding debt until 2015.The restructuring does not require launching a takeover offer.
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