The Extraordinary General Meeting unanimously authorised Intrum AB’s Board to issue shares to noteholders upon implementation of Intrum’s Recapitalisation Transaction, which involves completing a pre-packaged Chapter 11 Reorganisation plan and Swedish reconstruction process. The Recapitalisation Transaction is expected to become effective during Q1 2025, following the satisfaction of all conditions precedent.
The Extraordinary General Meeting resolved in accordance with the proposal from the Board and authorised the Board to resolve, on one or several occasions up until the next Annual General Meeting, on new issues of ordinary shares corresponding to no more than 10% of the total number of ordinary shares in Intrum on a fully diluted basis, with deviation from the shareholders’ preferential rights to the Noteholders. The authorisation shall also include a right to resolve on a new issue of shares against payment in cash or through set-off or otherwise with conditions in accordance with the Swedish Companies Act.
The use of the authorisation is conditional upon Intrum (i) having received court confirmation of either a Chapter 11 plan filed by the company and any affiliate (as applicable) with a United States Bankruptcy Court or a reconstruction plan filed by the company with the Stockholm District Court, confirming the terms and conditions of the Recapitalisation Transaction, or (ii) completing an exchange offer and/or contractual implementation of the terms and conditions of the Recapitalisation Transaction with the requisite consent of (a) each series of notes issued by Intrum and (b) the RCF Lenders.
Today’s Extraordinary General Meeting is the latest step forward in implementing Intrum’s Recapitalisation Transaction, which Intrum believes will significantly improve and strengthen Intrum’s capital structure and position it for long-term growth and success.
The Board’s full proposal has previously been published in the notice available on the company's website: www.intrum.com.
Minutes
The minutes from the Extraordinary General Meeting will be published on the company’s website within two weeks.
For further information, please contact:
Anders Bengtsson, Investor Relations Manager
ir@intrum.com