EQS-News

PlusPlus Capital Financial S.à r.l. receives court approval to start Reorganization process

EQS-News: PlusPlus Capital Financial S.à.r.l. / Key word(s): Legal Matter PlusPlus Capital Financial S.à r.l. receives court approval to start Reorganization process 19.04.2024 / 18:00 CET/CEST The issuer is solely responsible for the content of this announcement. PlusPlus Capital Financial S.à r.l. receives court approval to start Reorganization process Tallinn, Estonia, 19 April 2024. PlusPlus Capital Financial S.à r.l., a private limited liability company (société à responsabilité limitée) governed by the laws of the Grand Duchy of Luxembourg, with registered office at 1, rue Jean Piret, L-2350 Luxembourg Grand Duchy of Luxembourg registered with the Luxembourg Register of Commerce and Companies (Registre de Commerce et des Sociétés de Luxembourg (RCS)) under the registration number B268205 (the "Issuer"), the wholly-owned subsidiary of AS PlusPlus Capital has received approval from the District Court of Luxembourg (the “Court”) on 12 April 2024 to undertake a judicial reorganization in the form of a collective arrangement in accordance with Luxembourg law (the "Decision").

Pursuant to the terms of the Decision, the Court granted the Issuer a stay of proceedings for a period of up to four months, expiring on 12 August 2024 with regard to its payment obligations relating to the senior secured bond with ISIN XS2502401552.

Every creditor of the Issuer holding a senior secured bond with the ISIN XS2502401552 will receive individual notification of the Decision via the clearing system or any other acceptable electronic medium. Additionally, each creditor holding a senior secured bond with the ISIN XS2502401552 will be individually informed of its respective claim amount and any security or lien securing those claims.

During the stay granted by the Court, the Issuer will engage in negotiations with its creditors and prepare a reorganization plan. The reorganization plan will be presented to the creditors and ratified through voting process. The final approval of the reorganization plan will occur during a court hearing.

More detailed information about the Decision can be found here. PlusPlus Capital will inform the creditors about the further steps of the reorganization process in due course.