Conseil d’Etat (French Council of State) ruling on the PagesJaunes SA employment protection plan: Solocal Group confirms it does not threaten the company’s new organisation

Regulatory News:

Solocal Group (Paris:LOCAL) has taken note of the French Council of State’s ruling to cancel French labor inspectorate’s (Direccte) approval of its subsidiary PagesJaunes SA employment protection plan implemented in 2014.

Direccte issued its approval in 2013 based on an agreement reached following several months of discussions with the company’s trade unions that represented most company employees.

According to the French Council of State, Direccte had a responsibility to verify that the submitted company employee agreement had been signed by a properly appointed trade union representative.

Solocal Group notes that this ruling was based purely on a superficial matter concerning the signature of the trade union representative rather than on the underlying content of the employment protection plan.

The Group would therefore like to emphasize that this ruling does not automatically result in cancelling the announced staff redundancies, nor does it threaten the company’s new organisation.

Solocal Group and its subsidiary PagesJaunes SA are reviewing any consequences of this ruling and plan to make every effort to safeguard the company’s economic and employee interests.

About Solocal Group

Solocal Group, the European market leader in local online communication, provides digital content, advertising solutions and transactional services that simply connect people with local businesses. The Group employs some 4,800 people (including nearly 2,300 local communication advisors) in France, Spain, Austria and the United Kingdom and supports the online development of SMB and major client accounts, mainly through its four flagship brands: PagesJaunes, Mappy, ComprendreChoisir and A Vendre A Louer. Over the years, Solocal Group has earned the trust of some 550,000 Internet clients. In 2014, Solocal Group generated revenues of 936 million euros, of which Internet business accounted for 68%, making it a European market leader in terms of online advertising revenues. Solocal Group is listed on Euronext Paris (LOCAL). More information may be obtained at www.solocalgroup.com.

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