A pivotal meeting is scheduled for June 12, 2025, in Casablanca, where shareholders of Les Eaux Minérales d’Oulmès will gather at the Holmarcom Group headquarters. At the heart of the agenda is the management’s proposal for a new financial initiative: the issuance of redeemable bonds convertible into shares, with a target value of 350 million dirhams.
As Morocco’s leading producer of bottled water and soft drinks, the company aims to diversify its funding sources while staying committed to sustainable growth. Before moving forward, the assembly must confirm that the company meets the legal requirements to carry out this type of operation.
The board of directors is seeking shareholder approval to proceed with the bond issue, which could be executed in one or more phases. Company leaders would also be authorized to set all key terms, including the interest rate, subscription period, and any discount rate applied to the bonds.
Investors who purchase these convertible bonds will have an automatic option to exchange them for newly issued shares. The conversion will effectively trigger a corresponding capital increase. To facilitate this, shareholders are expected to authorize the creation of new shares and waive their preemptive subscription rights in favor of bondholders.
This financial approach allows the company to raise funds without adding traditional debt, while offering investors a future stake in the company. The board will have a window of three years to complete the operation and define all related terms. Additionally, the company has pledged to list the new shares on the Casablanca Stock Exchange.
Founded in 1933 and publicly traded since 1943, Les Eaux Minérales d’Oulmès currently employs over 3,000 people across seven production sites. The group has also expanded into sub-Saharan Africa through its subsidiary E.T.E. in Benin.
