EQS-News

PlusPlus Capital Announces Reorganization Petition to be filed by PlusPlus Capital Financial S.à r.l. – Invitation to update call on 25 March 2024

EQS-News: PlusPlus Capital Financial S.à.r.l. / Key word(s): Restructure of Company/Conference PlusPlus Capital Announces Reorganization Petition to be filed by PlusPlus Capital Financial S.à r.l. – Invitation to update call on 25 March 2024 19.03.2024 / 18:45 CET/CEST The issuer is solely responsible for the content of this announcement. PlusPlus Capital Announces Reorganization Petition to be filed by PlusPlus Capital Financial S.à r.l.

Invitation to update call on 25 March 2024

Tallinn, Estonia, 19 March 2024. PlusPlus Capital (“PPC”), a leading pan-Baltic and Finnish technology-driven receivables management group, announces that the Management Board of PlusPlus Capital Financial S.à r.l., representing the subsidiary and largest creditor of the parent company AS PlusPlus Capital, intends to vote in favor of the reorganization plan of AS PlusPlus Capital, as the ability of PlusPlus Financial S.à r.l. to meet its obligations to its creditors is directly and inevitably related to the liquidity of the parent company.

The restructuring plan of AS PlusPlus Capital was submitted to creditors on 12 March 2024. The deadline for the adoption the restructuring plan is 26 March 2024 and the deadline for submission of the restructuring plan to the Harju District Court for approval is 01 April 2024.

PlusPlus Capital Financial S.à r.l. intends to file its petition for the reorganization under the supervision of Luxembourg Court on 26 March 2024 in order to safeguard the interests of the company and its creditors. Pursuant to the applicable laws, the court must examine the petition and issue a ruling on it within 21 days of its filing. Once the judicial reorganization has been initiated, the court will set a stay of proceedings for a maximum of four months to negotiate with the creditors and draw up reorganization measures.

PlusPlus Capital Financial S.à r.l. is confident that the restructuring of its obligations under similar principles as set forth in the reorganization plan of the parent company, will enable PlusPlus Capital Financial S.à r.l. to cope with the financial difficulties, taking into account the interests of PlusPlus Capital Financial S.à r.l., its creditors and other relevant stakeholders.