Cabasse: Debt Conversion into Shares to Strengthen Quorum
On Thursday, February 5, 2026, Cabasse carried out a capital increase of 203,829.82 euros through the partial conversion of the current account debt held by its parent company VEOM Group. This operation aims to strengthen the participation of the historical shareholder ahead of an extraordinary general meeting scheduled for February 13, 2026.
Capital Increase Decision
On February 4, 2026, the Board of Directors of Cabasse decided to carry out a capital increase with the elimination of the preferential subscription rights of the shareholders. This operation involved the issuance of 78,396,086 new shares at a unit price of 0.0026 euro per share, fully subscribed by VEOM Group through the compensation of part of its current account shareholder debt. The gross amount of the issue is 203,829.8236 euros. The new shares will be subject to a request for admission to trading on Euronext Growth in Paris, scheduled no later than February 10, 2026, under the ISIN code FR001400DIY6.
Objective of the Operation
Cabasse states that the main objective of this operation is to strengthen the participation of VEOM Group to achieve the quorum required for the Extraordinary General Meeting of shareholders, convened on February 13, 2026, at 10:30 am, to validly deliberate on the resolutions submitted to it, deemed critical for the continuation of the activity. The General Meeting will have to decide on delegations of authority to the Board of Directors to proceed, if necessary, with capital reductions motivated by losses, as well as on the delegations of powers necessary for the implementation of a share consolidation operation possibly followed by a split. VEOM Group's share in the capital increases from 1.36 percent to 28.67 percent after this operation.
Impact on Share Capital
Before the operation, the share capital of Cabasse was composed of 204,765,704 fully subscribed and paid-up shares, with a nominal value of 0.0003 euro. After the issue, the share capital reaches 283,161,790 shares. The impact on the equity per share ratio changed from minus 0.0105 euro before the issue to minus 0.0068 euro after. For a shareholder holding 1.00 percent of the capital before the operation, the participation would be reduced to 0.72 percent after the issue. This operation does not require the establishment of a prospectus subject to the approval of the Financial Markets Authority.
