(AOF) – Orpea increased by 7.25% to 1.048 euros after the Paris Court of Appeal confirmed this Thursday the decision of the Financial Markets Authority (AMF) authorizing the Caisse des Dépôts et Consignations to increase its capital of the operator of retirement homes and clinics Orpea without launching a public takeover offer. The court claims to have validated this exemption “in order to preserve the useful effect of the European directive which is at the origin of the accelerated safeguard procedure and to facilitate the restructuring of companies facing financial difficulties”.
The company indicated on Monday that the launch of the first of three successive capital increases planned as part of its financial restructuring was “projected in the coming days, subject to the decision of the Paris Court of Appeal”. This obstacle has been removed.
The financial restructuring plan, which should lead to a change of majority shareholder and the erasure of part of Orpea’s debt, provides for a massive dilution of existing shareholders.
“At the end of these operations and in the absence of reinvestment, they would hold approximately 0.04% of the capital, the theoretical value of the share being less than 0.02 euros in this context,” had the company said on Monday.
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