(Boursier.com) — At the end of the General Meeting of December 15, a page has been turned within the governance of Safe SA, with a major reshuffle of the composition of its Board of Directors, including the appointment of a new Chairman and expert spine surgery directors, all of whom are deeply committed to the group’s redeployment.
As a reminder, the General Meeting of Safe SA, of December 15, 2023, decided to appoint Messrs. Victor Humberdot, Philippe Laurito and Rodolphe Cadio, as directors of the Company for a period of 4 years. The directorships of Messrs. Pierre Dumouchel, Philippe Petrou and Thomas Droulout were not renewed.
Consequently, Mr. Pierre Dumouchel is no longer Chairman and CEO of the Company since this date.
It is also recalled that the directorships of Messrs. Dominique Petit, François Reynaud and Ismaël Najurally were not submitted for approval by the General Meeting, and that Mr. Jean-Marc Feige has resigned from his position. term of office as director of the Company on December 15, 2023.
Consequently, the Board of Directors is now composed of:
– Mr. Rodolphe Cadio;
– Mr. Victor Humberdot;
– Mr. Philippe Laurito.
A meeting of the newly formed Board of Directors of the Company was held following the General Meeting and ratified the appointment of Mr. Victor Humberdot as Chairman of the Board of Directors as well as the appointment of Mr. Philippe Laurito as the new general director of the Company.
During this meeting, the Board of Directors also decided to appoint Mr. Nicolas Papillon as Deputy Chief Executive Officer.
Furthermore, keen to secure the fundamentals of the group, the new management is committed to limiting its remuneration envelope, which will not exceed that of the previous team. This new management does not benefit from additional elements of remuneration linked to the mandates exercised in the company paid by any shareholder of the latter.
Towards a sustainable and profitable growth project
Building on this new configuration, Management initiated a complete audit of the group on December 18, 2023, aimed at preparing a draft recovery plan with the assistance of the receiver for presentation to the Pontoise Commercial Court.
On a strategic level, management’s desire is to maintain the articulation around the subsidiaries Safe Medical (production of medical devices for orthopedic surgery) and Safe Orthopedics (the design, manufacturing and marketing of ready-to-use technologies for the back surgery).
Management is already studying new industrial configurations aimed at increasing Safe Medical’s machining capacities, reducing its production times and creating a specific offer linked to its ability to deliver sterile products. New bases will allow rapid commercial redeployment of the Safe Orthopedics range necessary for the return of growth and long-term profitability.
To cope with this structuring reorganization and secure its roadmap, Management is studying new short and medium term financing avenues with the group’s financial partners.
Management is negotiating with its main shareholder the conditions for granting short-term financing with a view to covering its needs until the start of the recovery plan which should take place by the end of the first quarter of 2024 (subject to the procedural timetable). of the Commercial Court of Pontoise).
Furthermore, it is recalled that on March 14, 2023, the Company subscribed to a bond loan with the company Global Corporate Finance Opportunities 20 for a maximum potential nominal amount of 29,900,000 euros over 59 months, by issuing bond certificates. giving access to bonds convertible or exchangeable into new and/or existing shares (the “OCEANE”).
This contract, several tranches of which were previously drawn down to the tune of 1,736,000 euros, has been suspended since July 31, 2023. However, all shareholders are reminded that the company Global Corporate Finance Opportunities 20 still has the option to convert the OCEANEs it has until they mature.
In this context, faced with the multiplicity of projects initiated by Management since December 15, 2023 and the imperative need for financial transparency and reliability of the information which will be communicated to the market by Management, Management considered it preferable to postpone publication of the 2023 half-year financial report as of February 28, 2024.
Management specifies that in 2024, the company will communicate its financial results according to the following agenda:
2023 turnover: February 28;
2023 Annual Results: April 30;
Annual Financial Report 2023: April 30;
Revenue for the first half of 2024: July 25;
Half-Year Results 2024: October 30;
Half-year Financial Report 2024: October 30.