The Lafuma Group has confirmed a substantial contraction in its revenue that will significantly affect its results as well as the value of its assets in fiscal year 2012/2013.
The French company’s board of directors has decided not to carry out the capital increase announced on Jan. 15 for the time being, in order to reorganise previously the Group’s funding structure, the comapny said in March 14. It has also reworded some of the draft resolutions submitted to shareholders at the next Ordinary and Extraordinary General Meeting to be held on March 20. In particular, it has rewritten one motion to lift to €60 million ceiling on how much additional equity the baord of directors can seek while maintaining preferential subscription rights.
The Group’s new management team, in office since Jan. 15 2013, will present its development plan in June 2013, when interim financial statements are to be released.
Lafuma Group owns the Lafuma, Millet and Eider outdoor brands and the Oxbow action sports brand.
