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Société Parisienne d’Accumulation de Capital (FPN) Announces Changes in Warrants and Business

October 29, 2021 GMT

PARIS - October 29, 2021 - ( Newswire.com )

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.

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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:

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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

Press Release Service by Newswire.com

Original Source: Société Parisienne d’Accumulation de Capital (FPN) Announces Changes in Warrants and Business