Axactor Annual Report 2016

Note 30 Subsequent events On January 20th, 2017 an extraordinary general meeting (EGM) was held and the EGM elected the following persons as new Board of Directors: Bjørn Erik Næss (Chairman of the Board from 01.03.17); Dag W. R. Strømme (acting Chairman until 01.03.17); Merete Haugli Brita Eilertsen; Beate Skjerven Nygårdshaug; Terje Mjøs; Michael Hylander (deputy board member) On 6 February 2017 - the 3rd tranche under the EUR 100 million Recurring Credit Facility which Axactor has with DNB Bank ASA and Nordea Bank AS was made available to the company, thereby increasing the available amount under the facility from EUR 50 million to EUR 75 million. After this event, an additional EUR 25 million is remaining under the facility. On 28 February, 2017 - Axactor AB announced that it had acquired the Swedish company Profact AB. Profact is offering credit management services and customer services in the Swedish market. The transaction closed on March 1, 2017. On 31 March 2017 Axactor has acquired the largest unsecured NPL portfolio since starting up in the fourth quarter of 2015. The portfolio was originated by Bank Norwegian in Sweden and included unsecured credit with a total Outstanding Balance (OB) of approximately EUR 105 million, across close to 15,200 open accounts of individual loans and credit card debt. On 4 April 2017 Axactor signed 3 new servicing contracts with 2 large Financial Institutions and a Large Preliminary purchase price allocation of the acquisition of Profact (see below): The identified fair values of the assets and liabilities of Profact at the date of acquisition were: SEK thousand Profact AB Date of acquisition 28.02.2017 Acquired part of company 100 % Purchase price 12 000 - whereof cash consideration 12 000 ASSETS Non-current assets Intangible assets Other intangible fixed assets 3 000 Goodwill 11 855 Tangible assets Plant and machinery 479 Long term financial assets Total non-current assets 15 334 Current assets Current receivables 3 349 Other current assets 890 Total current assets 4 239 Total Assets 19 573 Non-current liabilities Total non-current liabilities - Current liabilities Trade payables 4 132 Other short-term liabilities 2 617 Other public duties payable 824 Total current liabilities 7 573 Total Net assets 12 000 Axactor AB | Annual report 2016 61