IKAS ACQUISITION SUCCESSFULLY COMPLETED
Reference is made to the announcement by Axactor AB (publ) ("Axactor") on 17 March 2016 concerning the acquisition of the Norwegian credit management company IKAS. On 7 April 2016, the acquisition was successfully completed. On such basis, Axactor has resolved to issue 49,033,589 consideration shares (the "Consideration Shares") to the previous shareholders of IKAS, as settlement of 30% of the purchase price for IKAS. The new share capital will not be registered and the Consideration Shares not delivered until the approval and announcement of a listing prospectus for the Consideration Shares has been completed.
For further information:
Geir Johansen, CFO & Investor Relations, +47 47710451
About Axactor: Axactor is a newly established company in the market for credit management services. The company has a Nordic base and an ambitious pan-European growth strategy, which targets the market for non-performing loans in Europe. This market is estimated to about 1 500 billion euros, and Axactor's main focus is debt collection and purchase of NPL portfolios. As a first step in the pan-European growth strategy Axactor acquired the company ALD Abogados in December 2015. ALD Abogados is a leading debt collection company in Madrid with 120 employees, and has in addition a call center with 80 employees in Valladolid, Spain.
Cautionary Statement: Statements and assumptions made in this document with respect to Axactor AB’s (“Axactor”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of Axactor. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where Axactor operates; (ii) changes relating to the statistic information available in respect of the various debt collection projects undertaken; (iii) Axactor’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential partners, ventures and alliances, if any; (v) currency exchange rate fluctuations between the SEK and the currencies in other countries where Axactor or its subsidiaries operate. In the light of the risks and uncertainties involved in the debt collection business, the actual results could differ materially from those presented and forecast in this document. Axactor assumes no unconditional obligation to immediately update any such statements and/or forecasts.