PlusPlus announces Reorganisation Petition filed on 27 December 2023 by AS PlusPlus Capital

EQS-News: PlusPlus Capital Financial S.à.r.l. / Key word(s): Legal Matter PlusPlus announces Reorganisation Petition filed on 27 December 2023 by AS PlusPlus Capital 29.12.2023 / 10:00 CET/CEST The issuer is solely responsible for the content of this announcement. PlusPlus announces Reorganisation Petition filed on 27 December 2023 by AS PlusPlus Capital

Tallinn/ Luxembourg, 29 December 2023

PlusPlus Capital (“PPC”), a leading Pan-Baltic and Finnish technology-driven receivables management group hereby informs that its parent company Aktsiaselts PlusPlus Capital (the "Parent") encountered challenges in making payments that were meant to be serviced before the end of this year, such as payments for the EUR 2022/2026 Bonds coupon and for various bond buybacks.

Despite the Parent´s best efforts and due to several unforeseeable reasons, it was unable to conclude a financing agreement that it had been working on and which directly impacts the Parent’s ability to make the agreed payments by the end of this year.

In light of these circumstances, the Parent has taken a proactive step by submitting a petition for the commencement of reorganisation proceedings under the Reorganisation Act (Saneerimisseadus) to the Harju County Court in Estonia on 27 December 2023.

This decision has been made in order to safeguard the interests and to achieve the best possible outcome for the Parent and all stakeholders. PlusPlus Capital looks forward to receiving the court’s ruling in this regard and starting the reorganisation proceedings.

Given the current situation, PlusPlus Capital Financial S.à r.l. (the “Issuer”) will not be able to make payments under the EUR 100,000,000.00 11 % senior secured bonds 2022/2026 (ISIN: XS2502401552) (the “Bonds”) after the standstill period which has been granted to it by the holders of the Bonds and shall end on 31 December 2023. Hence and with a view to protect the interests of investors and stakeholders it is contemplated to apply for similar measures for the Issuer under Luxembourg law.