Boostheat announced on Monday that the bankruptcy judge in charge of its turnaround had authorized a contribution by HBR, the holding company of businessman Hugo Brugière, aimed at securing its turnaround plan.

This current account contribution - in the amount of one million euros - is intended to finance the observation period and supplement existing shareholders' equity with a view to covering all the needs of the turnaround project.

In addition, the energy efficiency specialist has been authorized to terminate its current premises in Vénissieux and sign a new lease on the same site, but better suited to its new dimension, which should generate annual savings of around 450,000 euros.

As the Combined General Meeting convened on February 9 to ratify the new directors (Hugo Brugière, Baudouin Hallo and Emmanuel Couraud) and to authorize share transactions failed to reach the required quorum, a new Combined General Meeting will be convened on March 1.


In a press release, Boostheat emphasizes that its shareholders will now be in a position to vote on the company's future plans, with all the financial information available.

The next hearing is scheduled for March 29, the date on which the company is due to present its safeguard plan, although this hearing could be brought forward if the plan were to be ready earlier.

Boostheat shares are up 35% on the Paris Bourse today.

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