Preferential rights issue in Hoist International AB (publ)
On 15 December 2014, an Extraordinary General Meeting of Hoist International AB (publ) resolved on a new share issue with preferential rights for existing shareholders.
The new share issue has been fully subscribed among existing shareholders and proceeds will amount to approximately SEK 100 million, which will immediately be contributed to Hoist Kredit AB (publ). As a result of the transaction, the common equity tier 1 capital ratio of the Hoist Finance Group as of 30 September 2014 (pro forma) increases from 10.03% to 11.06%. The rights issue is another step in the Group’s strategy to further strengthen the capital base in order to capture growth opportunities in the European debt purchase market as they arise.
For further information, please contact:
Anne Rhenman Eklund, Group Head of Communications and IR Hoist Finance
Contact details:
Phone: +46 (0)8 555 177 90
Email: anne.rhenman-eklund@hoistfinance.com
About Hoist Finance
Hoist Finance is a trusted debt restructuring partner to global banks and financial institutions, offering a broad spectrum of advanced solutions for acquisition and management of non-performing unsecured consumer loans. The total carrying value of Hoist Finance’s acquired loans was approximately EUR 800 million at 30 September 2014.
Hoist Finance is a Pan-European debt purchase company with presence in eight European markets. Hoist Kredit AB (publ) is licensed and regulated by the Swedish Financial Supervisory Authority, and is funded by the internet-based savings deposit service HoistSpar in Sweden, with more than 60,000 accounts, and by senior and subordinated unsecured bonds of in total SEK 1.1 billion as well as EUR 100 million in senior unsecured bonds listed on Nasdaq Stockholm.
The information above has been published pursuant to the Swedish Securities Markets Act (Sw. lag om värdepappersmarknaden) and Swedish Financial Instruments Trading Act (Sw. lagen om handel med finansiella instrument).
This information was released for publication at 08.00 CET on 16 December 2014.