(Boursier.com) — Great week of rebound for Orpea. Massacred last week, the title of the operator of retirement homes offered a nice boost after falling to historic lows. Over five sessions, it rose by more than 32% to 8.8 euros. After having acquired more than 5% of the capital of the group, the concert formed by the family company Mat Immo Beaune, specialized in retirement homes, and the investment firm focused on the unlisted, Nextstone, requests the appointment of two administrators independent members of the Board of Directors of Orpea.
According to information from ‘Figaro’, the two players also want the creation of an ad hoc committee responsible for the sale of assets where these two directors would sit. They also demand the convening of a general meeting of shareholders, with the idea that the latter be held “as soon as possible”.
“During this AG, we want management to respond transparently to shareholders,” said Philippe Péculier (Mat Immo Beaune) daily. And to warn: “our approach is friendly. But if we are not heard, we will defend ourselves by using our ability to raise capital”. The concert “does not refrain” from raising up to 29% of the capital and possibly going to court…
In turmoil since the end of January against a backdrop of accusations of shortcomings in the care of residents of its retirement homes followed by the discovery of financial embezzlement, Orpea has seen its stock market value melt by 90% since January 1. The new management team must present its transformation plan on November 15. Date on which the first meeting with the creditors must also be held.
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