ORCHESTRA-PREMAMAN (EPA:KAZI) ORCHESTRA-PREMAMAN ANNOUNCES HIS INTENTION OF TO CONVERT THE SAFEGUARD PROCEDURE INTO A LEGAL RECOVERY PROCEDURE AND THE SEARCH FOR AN INVESTOR
Transparency directive : regulatory news
01/04/2020 19:09
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April 1, 2020
ORCHESTRA-PREMAMAN ANNOUNCES HIS INTENTION OF TO CONVERT THE SAFEGUARD
PROCEDURE INTO A LEGAL RECOVERY PROCEDURE AND THE SEARCH FOR AN INVESTOR
The Orchestra-Prémaman Group held an extraordinary CSE yesterday during which
staff representatives were informed of the joint will of the management of
Orchestra-Prémaman and the judicial administrators appointed under the
safeguard procedure opened by judgment of the Specialized Commercial Court of
Montpellier of September 24, 2019, to request the short-term conversion of the
safeguard procedure, into a legal recovery procedure.
The procedural development of Orchestra-Prémaman is mainly linked to the
financial consequences of the unprecedented global health crisis linked to the
coronavirus, which has significantly impacted its activity in the territories
where it operates. Orchestra-Prémaman was forced in this context to proceed to
the total closure of its global network for a fortnight, without certainty on
the date of reopening of it.
Subject to the effective conversion of the safeguard procedure into recovery,
the management of Orchestra-Prémaman wishes to favor the short-term
presentation of a recovery plan by way of continuation aimed at ensuring the
sustainability of the activity, the maintenance of employment and clearance of
liabilities. In this context, a proposal to settle the liabilities was sent to
the main creditors of the company.
The management of Orchestra-Prémaman wishes to explore at the same time all
avenues allowing the activity of the group to be maintained in the best
conditions, particularly on French territory. This is why, in addition to the
ongoing negotiations with the group's creditors, a process of finding investors
as part of a sale plan will soon be implemented.
In this context, the trading of shares on Euronext Paris has been suspended for
an unlimited period.
Next Meeting
2019/2020 fourth quarter Revenue: April 14th, 2020 after SE closing
Contacts :
ACTIFIN - Stéphane RUIZ - 01 56 88 11 15 - sruiz@actifin.fr
ACTIFIN - Victoire DEMEESTERE - 01 56 88 11 24 - vdemeestere@actifin.fr
ACTIFIN PRESSE - Isabelle Dray - 01 56 88 11 29 - idray@actifin.fr
ORCHESTRA-PREMAMAN
A public limited company with capital of EUR12,159,825Headquarter: 200 avenue
des Tamaris, Zac Saint Antoine, 34130 Saint-Aunès.Registration
n°: 398 471 565 in the Montpellier Trade and Companies Register