Orpea announced last night that it was continuing negotiations with its creditors concerning its financial restructuring project.

In a press release, the retirement home operator points out that it is committed to negotiating a "drastic" financial restructuring involving the capitalization of 3.8 billion euros of unsecured debt.

The plan also calls for a capital increase of between 1.3 and 1.5 billion euros to finance its restructuring plan and achieve a sustainable financial structure.

The implementation of these operations could lead to massive dilution for existing shareholders who decide not to participate, the group points out in a press release.

The company - which says it can give no guarantees concerning the outcome of these discussions - indicates that it plans to continue to keep the market informed.

The group explains its communication by the "unusual" movements observed in its share price over the last few days: at last night's closing price, the share had rebounded by 40% since the beginning of the year.

It lost more than 8% this Thursday morning.

As a reminder, the share price had fallen by over 90% last year, hit by the revelations of the book-investigation Les Fossoyeurs.

Concert'O, one of the company's main shareholders, last night protested against Orpea's press release, the aim of which - in his opinion - seems to be to depress his own share price.

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