PlusPlus Capital Financial S.à.r.l. / XS2502401552
07.05.2024 - 19:00:03AS PlusPlus Capital Progresses in Restructuring Process – Application for Approval of Restructuring Plan Submitted to Court Following Investor Voting
| PlusPlus Capital Financial S.à.r.l. / Key word(s): Legal Matter AS PlusPlus Capital Progresses in Restructuring Process – Application for Approval of Restructuring Plan Submitted to Court Following Investor Voting 07.05.2024 / 19:00 CET/CEST The issuer is solely responsible for the content of this announcement. AS PlusPlus Capital Progresses in Restructuring Process Application for Approval of Restructuring Plan Submitted to Court Following Investor Voting Tallinn, Estonia, 7 May 2024. PlusPlus Capital (“PPC”), a leading pan-Baltic and Finnish technology-driven receivables management group, has made significant progress in the restructuring of Aktsiaselts PlusPlus Capital (the “Parent Company”) under the Reorganization Act (“Saneerimisseadus”). Following the broad support to the reorganization plan from the creditors, PlusPlus Capital filed an application for approval of the reorganization plan prepared in collaboration with financial and legal advisors to the court on 2 May 2024. The reorganization plan encompassed approximately 180 investors, whose claims amounted to over EUR 87 million. The plan received approval from investors representing approximately 95% of all claims covered by the reorganization plan. Creditors with secured claims supported the plan to an extent of approximately 75%. Kaarel Raik, Member of the Management Board of PlusPlus Capital: “We are very pleased to see such extensive support for a reorganization plan, which is rare in Estonia, and are confident that the court will approve the reorganization plan. Once approved, payments under the reorganization plan can commence immediately, with at least EUR 5 million to be paid out to creditors within this year.” Contact: PlusPlus Capital Kaarel Raik, Member of the Management Board Email: kaarel.raik@plusplus.ee Phone: +372 56 606 148 About PlusPlus Capital: PlusPlus is a pan-Baltic and Finnish technology-driven receivables management company with offices in Tallinn, Riga, Vilnius, and Helsinki. The company acquires overdue loans and other non-performing exposures from financial institutions and non-financial sector merchants. With its core competence in handling claims against private individuals, PlusPlus prefers diversified portfolios balanced by geography, portfolio type, and other metrics. Since its inception in 2010, PlusPlus has bought over 120 thousand claims with nominal value of approximately EUR 270 million. The company offers its clients affordable recovery solutions and aims to avoid litigious scenarios. In doing so, PlusPlus pursues win-win solutions that allow sellers to focus on their core business, provide affordable solutions for borrowers, and ensure adequate returns for investors. PlusPlus is a transparent and socially responsible company set to assist people in resolving problems connected with their insufficient solvency. The ambition of PlusPlus is to increase its market share and further strengthen its position as a leading player in its regional market. pluspluscapital.eu 07.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | PlusPlus Capital Financial S.à.r.l. |
| 1 rue Jean Piret | |
| L-2350 Luxembourg | |
| Luxemburg | |
| E-mail: | info@pluspluscapital.eu |
| Internet: | https://pluspluscapital.eu/ |
| ISIN: | XS2502401552 |
| WKN: | A3K7UD |
| Listed: | Regulated Unofficial Market in Berlin, Frankfurt, Munich, Tradegate Exchange |
| EQS News ID: | 1897969 |
| End of News | EQS News Service |
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