(AOF) – BD Multimedia announced the issue of 500,000 share subscription warrants (BSA) for the benefit of partners and employees. “This issue of vouchers associates certain service providers and/or investors with the continued development of the company and motivates its most loyal employees”, explains the fintech specializing in electronic payment services. Each beneficiary will be able to subscribe to the offer from this day until April 30, 2023 inclusive.
Holders of the BSAs will be able to exercise them and thus obtain BD Multimedia shares from May 1, 2023 until April 30, 2026. The exercise parity establishes that 1 BSA gives the right to subscribe for 1 new ordinary share at 3, 03 euros.
If all the warrants are exercised, the forward transaction will lead to a maximum capital increase of €1,515,000, issue premium included. The BSAs will not be listed on Euronext Growth Paris.
The BSAs are distributed as follows: allocations to 7 employees representing 43% of the BSAs and allocations to 10 partners, service providers and/or investors representing 57% of the BSAs.
Daniel Dorra, Chief Executive Officer, commented: “As explained during the vote at the EGM allowing the creation of these warrants, the BSAs are a strong tool for uniting our employees but also and above all motivating strategic partners. These partners have and will have an active role in several projects around NFTs in the continuation of our strategy. It is therefore, in the long term, a double benefit that can be drawn from this operation: strong energy and talents join us in a spirit of association while paying an entry fee which will allow a significant contribution of funds. These funds will make it possible to support even more the projects in question”.
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End of the price drop
Thanks to the price war, French consumers have benefited from internet prices that are among the lowest in Europe. But gradually, subscription prices are increasing. According to the telecoms authority (Arcep), in 2021 they increased by 3.1% for mobile and 5.1% for fixed. If the current inflationary context can explain this rise in prices, it is not the only reason. All players are indeed seeking to restore their margins. They have already succeeded in outsourcing part of their capital expenditure related to the deployment of their fiber and mobile infrastructures (4G and 5G). Now they have to increase their income. This is an important issue in order to benefit from the development of their performance. Generating a satisfactory level of available cash (free cash flow) also allows them to benefit from attractive financing conditions, in a sector that requires substantial investments. Investments in the sector almost reached 15 billion euros in 2021, a historic level. The increase has reached almost 50% since 2017.