An extraordinary general meeting has given the crisis-stricken credit management company Intrum's board of directors a mandate to implement new share issues, partly as payment for loans and partly to bring in money to the cash register, writes Intrum in a press release.
The decision was unanimous, according to Intrum.
As a condition for the new share issues, an approved application for bankruptcy protection under Chapter 11 of the US Bankruptcy Act in a US court or a reconstruction in the Stockholm District Court is required.
According to Intrum, the "recapitalization transaction" is expected to be completed during the first quarter of 2025.
The Intrum share, which has fallen by almost 60 percent so far this year, rises by around 2 percent after the news from the extraordinary general meeting.
