Viadeo Sets Up an Equity Financing Line to Support Its ViaNext Strategic Plan

Regulatory News:

Viadeo (Paris:VIAD) (FR0010325241, VIAD, Euronext Paris), the French professional social network, is announcing that it has set up an equity financing line making it possible to further strengthen its financial resources with a view to covering its working capital requirements linked to the deployment of ViaNext.

"The ViaNext strategic plan, which we launched a few weeks ago, aims to consolidate Viadeo's position as a key partner for its clients and members on the French job market. The new offers with this plan, based on a return to the fundamentals of our business, have received an excellent response from our corporate clients and our members. This financing line will enable us to support the ramping up of ViaNext in order to quickly return to growth and achieve positive EBITDA from 2017", confirms Renier Lemmens, Viadeo's CEO.

Viadeo had €4.6 million in net cash at 31 March 2016.

In this context, Viadeo’s Board of Directors has decided to set up, as delegated by the general shareholders’ meeting¹, an equity financing line with Kepler Cheuvreux, representing an indicative total of €1.6 million based on the current share price². If the conditions defined by the parties are met, Kepler Cheuvreux has made a commitment, on its own initiative in line with a predefined schedule, over the next 24 month, to subscribe for a maximum of 1,000,000 shares (representing 9.97% of the share capital³) based on the weighted average share price prior to each issue, less a maximum discount of 8.0%. This discount will enable Kepler Cheuvreux to act as the financial intermediary and guarantor under a firm commitment.

If this financing line is used in full, a shareholder with 1.00% of Viadeo’s capital before it was set up would see their interest become 0.91% of the capital on an undiluted basis³ and 0.92% of the capital on a diluted basis⁴. Viadeo will have the option to suspend or terminate the agreement at any time.

The number of shares issued in connection with this agreement and admitted for trading will be indicated in Euronext notices and communicated on Viadeo’s website.

This issue will not involve the filing of a prospectus submitted for approval by the French financial markets authority (AMF).

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Next financial date:
2016 first-half earnings on 8 September 2016

About Viadeo

Created in 2005, Viadeo is France's leading professional social network, with close to 11 million members. Viadeo offers businesses, whatever their sector or location, bespoke support thanks to its teams present nationwide, as well as its range of solutions tailored to their specific needs. Lastly, Viadeo offers all French talents the transparency they deserve, connecting them to all the opportunities available through their network. To learn more, visit corporate.viadeo.com.

¹ 31^st resolution from the combined general meeting on 21 May 2014
² Based on Viadeo’s share price on 7 June 2016 (closing price)
³ Based on the 10,028,159 shares comprising Viadeo’s share capital at 30 April 2016
⁴ Based on the assumption for 2,726,784 shares issued following the exercising of all the dilutive instruments (including this financing line) on the date of this press release

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