Ott Heritage Hospitality Increases Capital to €13 Million via its ORA
The board of directors of Ott Heritage Hospitality has recorded the redemption in shares of 15,000 bonds subscribed by its parent company OTT Heritage. The operation brings the share capital to €13,078,672.20 and modifies the distribution of shareholding.
A €15 Million Bond Loan Converted into Shares
Ott Heritage Hospitality (Euronext Access Paris: MLCOU) announced on September 22, 2026 that its board of directors, meeting on September 21, 2026, recorded the redemption in shares of all 15,000 bonds redeemable in shares (ORA) subscribed by OTT Heritage. These ORA, with a nominal value of €1,000 each, had been issued for a total nominal amount of €15,000,000 following the general meeting of June 30, 2025, with elimination of preferential subscription rights and subscription reserved for OTT Heritage.
On September 14, 2026, the company had received from OTT Heritage a request for redemption in shares covering all 15,000 ORA. Based on a parity of 250 shares per ORA, which remained unchanged in the absence of an event triggering the anti-dilution protection mechanism, the operation results in the issuance of 3,750,000 new shares.
Capital Increase Without Cash Fundraising
The board of directors recorded a capital increase of €3,216,675 in nominal amount, by issuance of 3,750,000 new shares with a nominal value of €0.85778 each, corresponding to a subscription price of €4 per share, as well as the recording of an issue premium of €11,783,325. Share capital is thus increased from €9,861,997.20 to €13,078,672.20, divided into 15,247,091 shares.
The operation does not result in any cash fundraising: it results from the redemption in shares of a bond loan with a principal amount of €15,000,000. The new shares will be assimilated to existing shares and admitted to trading on Euronext Access Paris, on the same listing line (ISIN: FR0004998318 - MLCOU).
Dilution of 24.6% and Strengthening of the Parent Company's Position
For a shareholder not benefiting from the issuance of new shares, the dilution of their relative stake is 24.595%. By way of illustration, a stake representing 1.00% of the capital before the operation represents approximately 0.754% of the capital after the operation.
On the basis of the distribution known as of December 31, 2025 and for informational purposes, OTT Heritage's stake would increase from 88.23% to 91.13% of the capital, while that of other shareholders would fall from 11.77% to 8.87%. On a pro forma basis established from the accounts as of December 31, 2024, the share of equity per share evolves from €0.85 to €1.63.
