Combined General Meeting of Solocal Group of June 19th 2014

Regulatory News:

The Combined General Meeting of the shareholders of Solocal Group  (Paris:LOCAL), european n°1 in local digital communication, was held in Paris, on June 19^th, 2014, under the chairmanship of Mr. Jean-Pierre Remy, Chairman and Chief Executive Officer.

All the resolutions presented were approved by a large majority, including:

• the parent company financial statements and the consolidated financial statements for financial year 2013;
• the approval granted to the Board of Directors to act on the shares of the Company (repurchase and cancelation of shares);
• the remuneration packages for financial year 2013 of Mr Jean-Pierre Remy, Chairman and Chief Executive Officer, and Mr Christophe Pingard, Deputy Chief Executive Officer;
• the renewal of the financial delegations granted to the Board of Directors;
• the renewal of the of the position of Mr. Jean-Pierre Remy, Ms. Sandrine Dufour, Mr. Rémy Sautter, François de Carbonnel and Lee Millstein as members of the Board of Directors;
• the modification of the articles of association, leading to the reduction of the duration of the Directors’ terms.

Governance evolution

As previously indicated, the Board of Directors shall be adapted:

• reduction of the number of Directors from 11 to 9 (Mr Elie Cohen and Mr Steven Mayer not having wanted their positions to be renewed by this General Meeting), 5 of the Directors being independent
• limitation of the duration of the Directors’ terms from 5 to 4 years, this modification being applicable to current positions;

2014/2015 outlook

During the Combined Shareholders Meeting, Mr Jean-Pierre Remy commented on the Group’s 2013 results and recalled the 2014/2015 outlook, during the presentation of the main progress made on the Digital 2015 transformation program:

• global revenue decrease between -3% and -6% in 2014 and return to global growth in 2015 by generating about 75% of revenues on Internet;
• normalised gross operating margin¹ expected between €355 M and €375 M in 2014.

Furthermore, he specified that the realisation of the outlook would depend on the evolution of Internet generated revenues between +5% and -1% in 2014 and greater than +7% in 2015. Finally, the Internet generated revenues would represent about 68% of global revenues in 2014.

The results of the votes will soon be available on www.solocalgroup.com.

About Solocal Group

Solocal Group, the leader in local communication, became the new name of PagesJaunes Groupe on 5 June 2013. The Group offers online content, advertising solutions and transactional services that connect consumers and clients locally. It brings together around 4,500 people, including more than 2,200 advisors in local communication in France and Spain to support the digital development of companies (SMEs and micro businesses, tier 1 brand accounts, etc.), 17 strong and complementary brands (PagesJaunes, Mappy, 123people, 123deal, A vendre A louer, Embauche.com, Keltravo, Chronoresto, ZoomOn, Solocal Network, ComprendreChoisir, ClicRDV, PJMS, Horyzon Media, Leadformance, QDQ, Editus and Solocal Group) and nearly 650,000 clients. In 2013, Solocal Group generated nearly 1 billion euros in revenues, of which 63% via the Internet, and thus ranks among the key European players in terms of online advertising revenues. Solocal Group is listed on NYSE Euronext Paris (LOCAL). Information on Solocal Group is available at www.solocalgroup.com.

¹ GOM normalised: GOM adjusted for accounting effects (without cash impact) related to the implementation of the new sales contracts