Press releases, PRESS OFFICE

OK Mobility Group continues the process of sophistication and professionalization of its structure and becomes a public limited company

Jun 29, 2023

OK Mobility Group, S.L. ("OK Mobility"), the parent company of the OK Mobility, has decided to undertake a transformation process from its current corporate form to a public limited company. The main objectives of the transformation are to sophisticate and strengthen OK Mobility's corporate structure and to improve its financial capacity, enabling it to access new growth opportunities.

As a market-leading mobility platform, OK Mobility aims to consolidate its position on a global scale. Becoming a public limited company supports this purpose by providing a more robust and stable corporate framework, strengthening governance and professionalizing its corporate structure.

In addition, once transformed, OK Mobility will no longer be subject to the regulatory limitations that currently apply to limited liability companies in Spain in relation to debt issuance. OK Mobility currently has an 84 million euro promissory note programme, listed on the Mercado Alternativo de Renta Fija (MARF), so its transformation gives it the possibility to increase and make its debt issuance more flexible in the future.

As part of its transformation, OK Mobility will also reduce its share capital from EUR 42,234,066.00 to EUR 25,000,000.00. The aim is to simplify the company's capital structure by aligning OK Mobility with its operational objectives.

Finally, OK Mobility is considering the possibility of setting up a board of directors as a governing body in the future.