PlusPlus Capital: Vertagte Gläubigerversammlung am 26. September 2023

Dienstag, 19. September 2023

Pressemitteilung der PlusPlus Capital Financial S.à.r.l.:

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

PlusPlus Capital Financial S.à.r.l.


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