PlusPlus Capital Financial S.à.r.l.
PlusPlus to hold adjourned bondholders meeting for EUR 2022/2026 bonds on 26 September 2023

PlusPlus to hold adjourned bondholders meeting for EUR 2022/2026 bonds on 26 September 2023

Tallinn, Estonia, 19 September 2023. PlusPlus Capital (“PPC”), a leading Pan-Baltic and Finnish technology-driven receivables management group, has previously communicated that it did not pay interest on the Bonds which was due on 31 July 2023.

For this purpose, PlusPlus convened a meeting of the bondholders to propose to agree on a standstill period with regard to the obligation of PlusPlus to pay the Interest in order to work on raising necessary funding through a share issue. The meeting of the bondholders, which was scheduled on 29 August 2023, did not take place because the required quorum was not reached. However, PlusPlus notes that 81.00 per cent of the votes cast was in favour of the proposal.

Currently, PlusPlus is actively working on a restructuring solution which may, subject to the bondholders deciding against the termination of the Bonds and the enforcement of the Guarantees, include a buyback offer of the Bonds and securing funding for operational activities of the company over the coming years. PlusPlus will reach out to the bondholders in a timely manner with respect to such solution.

As a consequence of the aforementioned and upon request from Greenmarck Restructuring Solutions GmbH as Agent under the Terms and Conditions, PlusPlus asks the bondholders whether they intend to (i) terminate the Bonds and (ii) instruct the Security Agent to enforce the Guarantees and the Transaction Security Documents.

PlusPlus recommends that the bondholders decide against the termination of the Bonds and the enforcement of the Guarantees and the Transaction Security Documents.

All the necessary documents for the voting are available on the website of PlusPlus Capital:
https://pluspluscapital.eu/investor-relations/reports-and-presentations/

Contact:
PlusPlus Capital AS
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 117 thousand claims with nominal value of approximately EUR 289 million as at 31 December 2022. 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.

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