– Resumption of quotation on October 26 at the opening of the markets
– Opening of an amicable conciliation procedure for the benefit of ORPEA SA aimed at renegotiating its debt with its financial creditors
– Anticipation of asset impairments as of December 31, 2022 linked to the ongoing strategic review and estimated, to date, between 2.1 and 2.5 billion euros before tax
– Presentation on November 15 of the transformation plan for the benefit of patients, residents, their families and employees
The highly inflationary economic environment and the consequences of the strategic and financial review currently being finalized by the new management since ORPEA’s latest publications, lead the Company to have to renegotiate its debt, including the covenants contained in numerous lines of financing, which may not be respected as they stand at December 31, 2022. In addition, the current context affects the operational performance and the asset disposal program as envisaged in the financing plan approved with the main partners banks last May and aimed at ensuring the Group’s liquidity. The amount of gross debt due as of December 31, 2023 (as calculated as of June 30, 2022, pro forma of the drawings made as of September 27, 2022) is €2.439 billion.