2023 Aug 30
PlusPlus does not reach quorum in Bondholders’ Meeting
Tallinn, Estonia, 30 August 2023. PlusPlus Capital (“PPC”), a leading Pan-Baltic and Finnish technology-driven receivables management group, has not reached the required participation quorum on yesterday’s Bondholders’ Meeting to resolve a temporary standstill agreement on the outstanding coupon payment of its EUR 2022/2026 bond. The Company intends to meet its interest payment obligations by means of a share issue, the subscription period for which runs until 29 September 2023. PlusPlus Capital will provide information on the next steps in due course.
PlusPlus Capital AS
Kaarel Raik, Member of the Management Board
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.