Tomorrow the OHLA will hold an extraordinary meeting to approve the €150 million extension.
As part of your refinancing plan
MADRID, October 21 (EUROPE PRESS) –
OHLA will hold an extraordinary general meeting of shareholders on Tuesday, with the top agenda item being approval of a €150 million capital increase that will enable the company to meet upcoming debt maturities.
The operation will be structured in two parts: the first amount will be 70 million euros, intended only for new investors who have already confirmed their participation, and the second will be 80 million euros, in which only 26 million euros of the current principal ones are insured. shareholders, the Mexican Amodio brothers, and the 5 million euros remaining from the 75 million contributed by new investors.
The new capital injection already secured therefore amounts to EUR 101 million. The remaining 49 million euros can be subscribed to by the remaining minority shareholders, although the company is already working on a new issue of bonds convertible into shares worth 50 million euros, which will cover the 150 million euros needed to complete its refinancing if the expansion is not fully subscribed.
The company faces a first maturity of its debentures in March 2025, for 50% of the €412 million, and a second in March 2026, for the remaining 50%. Thus, the first tranche amounts to approximately 206 million euros.
In addition to the €150 million in new injections, OHLA plans to raise a further €55 million in the final quarter of the year from the agreement to sell its 25% stake in Canadian Hospital (CHUM), a transaction that completed last month of June. with John Laing Health Montreal. The sum of all these funds would already exceed the first repayment period of the debt.
In any case, the company continues to work on the sale of Ingesan (its service area) and its 50% of the luxury Canalejas center in Madrid in order to maximize its value and generate additional funds.
NEW SHAREHOLDERS
The new capital injection will come from various investors who have been in talks with the company all summer, mainly from José Elias Navarro – president of Audax Renovables and owners of stakes in Ezentis and Atrys Health – who will provide 30 million euros.
Excelsior, a group of businessmen led by Navarro, also consists of Key Wolf, a company owned by José Eulalio Posa – founder of MásMóvil – which will provide another 10 million euros; Nimo, parent company of Inveready Group, with €7 million; and Coenersol, a developer of solar parks, which will invest a further €3 million.
In addition to this group, the company Inmobiliaria Coapa Larca, controlled by the Mexican Luis Andres Holzer, secured its participation in the amount of 25 million euros.
All these funds will be subscribed for the first capital increase of 70 million euros, plus a further 5 million for the second increase.
The share capital of OHLA will consist of 1,191 shares, so Amodios will have 21.6% (compared to the current 26%), Andres Holzer – 8.4%, Elias Navarro – 10%, Eulalio Poza – 3.35%, Invereadi – 2.35% and Coenersol 1%, for a total of 46.7% if the full €150 million is subscribed.
OTHER BOARD AGREEMENTS
The extraordinary meeting, which will begin at 12:00 and will be held electronically, will also vote on the appointment of Tomas Ruiz, the current group CEO, as a director, which will entail his future appointment as CEO. The position is that he has not been in the OHLA since the departure of Jose Antonio Fernandez Gallar in June last year.
To make this appointment possible, expansion of the board of directors to 10 members was included as another item of the day.