(Boursier.com) — Orpea continued to make talk this week. The title took him more than 21% to sign one of the best performances of the SRD. A burst which does not erase the division by two of the action since the beginning of the year. The Association of Minority Shareholders of Orpéa (ADAMO), which claims more than 5.5% of the group’s capital, has “solemnly” requested the holding of a general meeting of shareholders without delay. But the Orpea board of directors said it had not received any formal request to convene a general meeting, a spokeswoman for the group told Reuters on Tuesday. If such a request were to be made, the board of directors would examine it taking into account the social interest and the solidity of the plan, she added.
ADAMO then told us “having written to Laurent Guillot and Guillaume Pépy last Friday to tell them that the association intended to request the appointment of an administrator to the Commercial Court of Nanterre to obtain the holding of a GM”. She believes that the company has no other choice than to organize an AGM and speaks of “forced passage” of management, pointing to the dilution suffered by Orpea’s shareholders: “whatever the restructuring, it It is inconceivable that with 100 shares of Orpea today, a shareholder will ultimately end up with 1 share of the new Orpea”.
The rebellion around the restructuring plan of the operator of retirement homes is still strong, both on the side of the shareholders who should suffer extreme dilution given the successive capital increases envisaged, and on the side of certain creditors (Fortress Investment in the lead ) who consider themselves wronged in this operation. The protest funds have notably targeted the amount of fees paid to investors who support the restructuring as well as their exclusion from the operation’s steering committee.
©2023 Boursier.com