Axactor SE - Announcement of relocation plan to Norway
Oslo, August 15, 2018 - Axactor SE ("Axactor" or the "Company") intends to relocate its registered office from Sweden to Norway in order to reduce the burden of administrative expenses and achieve a more efficient group structure as initially announced on 23 March 2018.
The relocation will not lead to a change of legal entity and the Company will for all practical purposes continue to be governed by the legislation applicable to Swedish public limited liability companies until the relocation to Norway has been completed. After relocation to Norway, the Company will for all practical purposes be governed by the legislation applicable to Norwegian public limited liability companies.
The administrative board has given its approval of the attached relocation plan which has today been registered with the Swedish Companies Registration Office and will be announced in Post- och Inrikes Tidiningar on August 17, 2018.
The relocation plan will require approval by the shareholders at an extra ordinary general meeting, which will be held on October 17, 2018 in Stockholm, Sweden.
The summon to the extra ordinary general meeting as well as the relocation plan and thereto related documents will be published on September 17, 2018 and be found on the Company´s website www.axactor.com and in the Swedish online newspaper at www.poit.se.
The listing of the Company's shares on Oslo Børs will not be affected by the contemplated relocation.
For further information, please contact:
Endre Rangnes, Chief Executive Officer, Axactor SE
Mobile phone: +47 482 21 111
Johnny Tsolis, Chief Financial Officer, Axactor SE
Mobile phone: +47 913 35 461
Axactor Group specializes in both Debt Collection and Debt Purchasing across several countries, with operations in Italy, Germany, Norway, Sweden and Spain. The company has a Nordic base and an ambitious Pan-European growth strategy, which targets the market for non-performing loans (NPL) in Europe. This market is estimated to be about 1,500 billion euros across Europe providing significant opportunities for Axactor's future expansion. Axactor has approximately 900 employees.