Orpea today announced the launch of a capital increase with shareholders' preferential subscription rights for a gross amount, including issue premium, of 390,019,672.62 euros through the issue of 29,324,787,415 new shares to be subscribed in cash, at a subscription price (including issue premium) of 0.0133 euro per New Share.
The members of the Groupement have undertaken to subscribe, by exercising their preferential subscription rights, for approximately 195.7 million euros (each for its own amount and without joint and several liability), the balance of approximately 194.3 million euros being guaranteed by the members of SteerCo.
The net proceeds from the issue of the New Shares, which are estimated at around 323 million euros (after deducting the amount of residual costs relating to the financial restructuring and various fees (excluding the Membership Fee) remaining to be paid in cash after October 31, 2023, for around 67 million euros, but excluding the deduction of the total amount of approximately 39 million euros that would be owed by the Company to SteerCo and Groupement under the Accelerated Safeguard Plan in the event that the Groupement BSAs (as defined below) and SteerCo BSAs (as defined below) are not issued within 6 months of the settlement-delivery of the Capital Increase with DPS Retention, scheduled for February 15, 2024) will be used to finance the Group's general needs, in particular the financing of its Refoundation Plan, with a view to restoring its EBITDAR margin and completing the rebalancing of its balance sheet by 2026.
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ORPEA is the European leader in global dependency care. The group operates retirement homes, follow-up care clinics, and psychiatric clinics.
At the end of 2022, ORPEA had a network of 992 facilities (90,860 beds) located in France (358 facilities; 33,462 beds), Benelux/the United Kingdom/Ireland (193 facilities; 10,708 beds), Central Europe (237 facilities; 23,765 beds), Eastern Europe (124 facilities; 12,764 beds), the Iberian Peninsula and Latin America (79 facilities; 10,007 beds) and China (1 facility; 154 beds)
The group has a real estate portfolio of nearly 2.3 million m2 with a value of EUR 6,500 million.
Net sales are distributed geographically as follows: France/Benelux/the United Kingdom/Ireland (59.9%), Central Europe (25.6%), Eastern Europe (9.3%), Iberian Peninsula and Latin America (5.1%) and other (0.1%).
ORPEA 
