PlusPlus Capital Financial S.à r.l. to File Reorganization Petition and Host Update Call

PlusPlus Capital Financial S.à r.l., part of the PlusPlus Capital group, has announced plans to file a reorganization petition with the Luxembourg Court on 26 March 2024. This action aims to address the financial challenges faced by both PlusPlus Capital Financial S.à r.l. and its parent company, AS PlusPlus Capital. The decision follows the submission of a restructuring plan for AS PlusPlus Capital to its creditors on 12 March 2024, with a vote on the plan scheduled before the 26 March deadline.

The reorganization under Luxembourg's legal framework seeks to safeguard the interests of the company and its stakeholders, promising a procedure that includes a stay of proceedings for up to four months for negotiations and planning. PlusPlus Capital Financial S.à r.l. is confident that restructuring its obligations, in alignment with the parent company's plan, will enable the group to overcome its current financial difficulties.

In addition to the reorganization announcement, PlusPlus Capital has invited investors and analysts to an update call on 25 March 2024. The call, conducted in English, will include a webcast presentation by the management board to discuss the progress of the reorganization efforts.