Request for Extraordinary Shareholders' Meeting of Axactor - Board Election

OSLO, Norway, Dec. 21, 2016 /PRNewswire/ -- As announced on December 21, 2016 Axactor AB has received a request from more than 10% of the shareholders that the Board of Directors convenes an extraordinary shareholders' meeting for the election of new board of directors.

As the company over the last 12 months has been through a significant growth process, it is natural to consider the composition of the board so as to enable the company to embark on its next phase of growth and expansion in the European markets where Axactor operates.

The management of Axactor acquired shares in the latest share issue and signals confidence in the future growth potential for Axactor, and sees significant NPL volumes for sale in 2017 in the markets where the company operates.

For further information, please contact:

Endre Rangnes
Chief Executive Officer
Mail: endre.rangnes@axactor.com
Tel: +46 8 402 28 00
Cell Phone: +47 48 22 11 11

Geir Johansen
Chief Financial Officer
Mail: geir.johansen@axactor.com
Cell Phone: +47 477 10 451

About AXACTOR-
Axactor is addressing a large non-performing loan (NPL) market in Europe. The market is estimated to around EUR 1.5 trillion and with a solid growth rate. The main growth factors are partly driven by regulatory changes, sales of non-performing loans and an accelerating trend of outsourcing debt collection to specialized companies. Furthermore, we see a consolidation trend in the debt collection/debt purchase industry. Axactor's main focus in the credit management value chain will be: amicable and legal collection, surveillance and acquisition of NPLs.

Axactor was established in 2015 and has approximately 900 employees.

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