Shareholders in the company behind Thermes Marins Monte-Carlo have been called to an extraordinary general meeting later this month to consider its capital position…
According to a notice published in the Journal de Monaco, shareholders of Société Anonyme Monégasque des Thermes Marins Monte-Carlo will meet on September 29. The agenda includes a decision on whether to continue the company’s activities following the loss of half its share capital.
Shareholders will also be asked to consider a reduction in the company’s capital, followed by a potential increase, together with the corresponding changes to its statutes.
The wording reflects a formal corporate procedure triggered by the company’s balance-sheet position and should not be interpreted as an announcement that Thermes Marins Monte-Carlo is closing. The notice itself provides no further details on the circumstances behind the loss or the amounts involved.
The company has capital of €2 million and is part of the Monte-Carlo Société des Bains de Mer group. SBM held 98 per cent of the company at its last reported half-year position.
The meeting comes as SBM considers the future redevelopment of the wider Thermes Marins site. The group has previously outlined plans for a major restructuring that could include new Thermes Marins facilities alongside luxury residences, shops, offices and parking.
Shareholders will meet at the company’s registered office at 16:00 on September 29, when the proposed measures will be put before them.
Image: Thermes Marins