OHLA to Hold Extraordinary Meeting on October 21 to Increase Capital by 150 Million

OHLA will hold an extraordinary general shareholders' meeting on October 21 to approve a capital increase of up to 150 million euros, agreed upon on September 17. This operation aims to strengthen the construction company from a financial perspective due to its high debt, as well as operationally. It also seeks to boost its growth in its main markets, which are Europe, the United States, and Latin America.

The agenda includes the approval of an initial capital increase without pre-emptive subscription rights for 70 million euros, through the issuance and circulation of 280 million new ordinary shares at an effective amount of 0.25 euros per share. Then there will be a second capital increase with rights for 80 million euros, through the issuance and circulation of 320 million new ordinary shares at the same amount per share of 0.25 euros.

Additionally, the meeting will also seek approval for the appointment of Tomás Ruiz as an executive director in the company and the increase in the size of the board of directors, which will now have 10 members.

OHLA has already received binding investment commitments from Inmobiliaria Coapa Larca, controlled by Mexican businessman Andrés Holzer, as well as from a group of investors led by Excelsior Times, owned by businessman José Elías.

The capital increase, led by OHLA's main shareholders, brothers Luis and Mauricio Amodio, is conditional on the company reaching a binding agreement with key banks and also with holders of bonds issued by OHLA—with whom it has agreed to postpone by three weeks, until October 4, the payment of its cash coupon—current negotiations are advanced.

The company thus complies with the roadmap announced this summer, making firm progress towards achieving its financial stability thanks to debt reduction.