The Board of Société Parisienne d'Accumulation de Capital (formerly FPN), ("SPAC"), has approved the principle of distribution of company share purchase warrants (later referred to as "warrants") it owns to all the shareholders of the company. SPAC (FPN) holds on its books 170,765,662 warrants. The warrants have a 04/12/2023 maturity, with one warrant entitling each shareholder to acquire two shares for a 0.05 EUR payment. The board made the decision to distribute up to 150,000,000 warrants (so potentially up to 300,000,000 new shares corresponding to a capital increase of 7.5M EUR) in order to recognize the patience and fidelity of its shareholder base. The board also decided to rename its business and will focus on real estate acquisition under the leadership of its board members. Given the number of shares and warrants in circulation, 70,000 warrants will be transferred in the company book of warrants in the name of each shareholder that will ask for it and that can demonstrate the ownership of at least 100,000 shares by 01/11/2021. Each shareholder will need to contact the company in writing at the following address contact@spacparis.biz. The remaining 20,765,662 company share purchase warrants will be held by the company for future use.
The total number of shares after done or in process conversions of the ORA as of today will be 201,254,691, and only 36,090,135 of ORA will remain outstanding for conversion as of today.
The board of SPAC will announce its first investment before the end of the year.
As of today, the list of shareholders known to the company is as follows:
OTT Holdings | 34,326,914 | 17.06% |
Bernard Gauthier | 20,000,000 | 9.94% |
ABO | 30,000,000 | 14.91% |
KENNIE CAPITAL | 20,000,000 | 9.94% |
FIPP | 34,326,914 | 17.06% |
Advenis | 2,500,000 | 1.24% |
Europe Offering | 5,350,000 | 2.66% |
Paul Wolfenden | 1,000,000 | 0.50% |
Public | 53,750,863 | 26.71% |
Total | 201,254,691 | 100.00% |
List of ORA outstanding
OTT Holdings | 15,374,286 |
OTT Partners | 10,715,849 |
Xavier Urbain | 10,000,000 |
Total | 36,090,135 |
http://www.fonciere-parisnord.com
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Original Source: Société Parisienne d'Accumulation de Capital (FPN) Announces Changes in Warrants and Business
