PlusPlus Capital Advances in Restructuring with Court Submission Following Investor Approval

TALLINN, Estonia, May 7, 2024 – PlusPlus Capital Financial S.à.r.l., a leading receivables management group in the Baltic and Finnish regions, has achieved a crucial milestone in the restructuring of its Parent Company, Aktsiaselts PlusPlus Capital. The company announced its recent submission of a reorganization plan to the court for approval, following substantial backing from its creditors under Estonia's Reorganization Act.

The proposed reorganization includes approximately 180 investors with claims totaling over EUR 87 million. Investor support for the restructuring plan was notably high, with approvals from about 95% of the total claim value. Secured creditors have also shown strong support, endorsing the plan by about 75%. Kaarel Raik, a member of PlusPlus Capital's management board, expressed optimism regarding the court's upcoming decision and outlined immediate payment plans to creditors, with at least EUR 5 million expected to be disbursed within the year.