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Gjeldsinnkrevingsselskapet Axactor
OldNick
27.09.2017 16:08
#19536

AXA: Axactor Germany makes two NPL acquisitions from two large financial institutions

Børsmelding
11.09.2017

Oslo - Axactor has acquired two portfolios of NPL Loans including auto financing and personal loans in Germany. The portfolios have an outstanding balance of EUR25.7m across over 4,000 cases, with both containing a significant number of existing payment plans, generating cashflow right from the acquisition.

The transactions complement the recent service contract announced last month, further strengthening the Axactor hybrid model focusing both on servicing and purchasing NPL claims across key European markets.

Doris Pleil, country manager and managing director Germany, commented "These purchases show further growth in the owned portfolios in Germany for Axactor. I am very happy with the development in Germany and expect to see further purchases soon."
______

Den ekstraordinære GF i Axactor valgte Harald Thorstein som nytt styremedlem. Han erstattet Dag Strømme.

AXA: Axactor AB - Translation of earlier released bulletins from the Extraordinary General Meeting

Børsmelding
26.09.2017

______

Det er nå en aksjekapital i Axactor på EURO 79 376 538.55, fordelt på 1 516 488 769 shares.

AXA: Axactor AB - Increase in share capital related to the Tranche 2 of the Private Placement

Børsmelding
27.09.2017

Oslo - Reference is made to the stock exchange announcement from Axactor AB ("Axactor" or the "Company") published 14 August 2017 regarding the successfully completed private placement of 240,000,000 new shares (the "Private Placement Shares") at a price of NOK 2.49 per share (the "Private Placement"), and the stock exchange announcement regarding the approval of the prospectus of the Company by the Swedish Financial Supervisory Authority. DNB Markets, a part of DNB Bank ASA, acted as manager for the Private Placement (the "Manager").

The Private Placement is divided into i) a Tranche 1 consisting of 75.6 million Private Placement Shares, and ii) a Tranche 2 consisting of 164.4 million Private Placement Shares.

The Company has received confirmation that the share capital increase of EUR 8,605,077.21 divided into 164,400,000 Private Placement Shares related to Tranche 2 of the Private Placement has been registered by the Swedish Companies Registry. The 164,400,000 Private Placement Shares are consequently tradable. The new registered share capital of Axactor is EUR 79,376,538.55 divided into 1,516,488,769 shares.

The payment and registration of the Private Placement Shares has been done based on pre-funding from the Manager. As previously announced, the Company and the Manager have entered into an agreement related to pre-funding of the payment for the Private Placement Shares (the "Pre Funding Agreement"). The Pre Funding Agreement regulates inter alia certain rights and obligations of the Company and the Manager related to the pre-funding.

The Private Placement Shares in Tranche 2 will be settled through a delivery versus payment transaction expected on or about 29 September 2017.

For additional information, please contact:
Endre Rangnes, CEO Axactor, Mob: +47 4822 1111, Email: endre.rangnes@axactor.com
Geir Johansen, CFO & IR, Axactor, Mob: +47 4771 0451, Email: geir.johansen@axactor.com
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AXA: Siste prospekt (PDF)

Endret 27.09.2017 16:13 av OldNick
OldNick
24.10.2017 19:13
#19606

AXA: Axactor acquires an Auto Loan Portfolio in Spain from major European car manufacturer

Børsmelding
16.10.2017

Oslo - Axactor has acquired an Auto Loan Portfolio in Spain from one of the major European car manufacturers, the total outstanding balance was close to EURO 100m and there were more than 10.000 claims in the portfolio. The portfolio contains a high level of cases in the legal process and contains a high quality of data and documentation. The acquisition will be closed with a co-investment partner, Plataforma Legal, taking a minority interest along with providing specialist collection services. The combination of Axactor and Plataforma Legal was a key factor in successfully closing this deal.

"Axactor's focus on quality in the Spanish market continues to deliver growth. This portfolio, given its legal status, was a perfect fit for Axactor as well as enabling the relationship with Plataforma Legal, which could potentially lead to further acquisitions in the future. The whole team are very pleased to have been successful in this transaction", says Andrés López and David Martín, General Managers of Axactor Spain.

For additional information, please contact:
Endre Rangnes, CEO Axactor, Mob: +47 4822 1111, Email: endre.rangnes@axactor.com
Geir Johansen, CFO & IR, Axactor, Mob: +47 4771 0451, Email: geir.johansen@axactor.com

Endret 24.10.2017 19:13 av OldNick
OldNick
24.10.2017 19:13
#19607

Axactor og Geveran har signert avtalen om å opprette et JV investerings-selskap for å kjøpe større gjeldsportefølger.

Axactor får jobben med å administrere og kreve inn utestående.

Meldingen førte ikke til noe varig løft i ettermiddag, da aksjen fortsatte å falle og havnet under 2.80 igjen.

AXA: Axactor and Geveran enter into binding agreements for the establishment of the Portfolio Investment Company

Børsmelding
24.10.2017

Oslo - Reference is made to the announcement of 14 August 2017 that Axactor AB (publ) ("Axactor") and Geveran Trading Co. Limited, a company indirectly controlled by trusts established by Mr. John Fredriksen for the benefit of his immediate family ("Geveran"), had signed a letter of intent regarding the establishment of a jointly owned portfolio investment company (the "Portfolio Investment Company"). Axactor is pleased to announce that the investment partnership agreement (the "Investment Partnership Agreement") for the establishment of the Portfolio Investment Company has now been entered into.

As previously announced, the Portfolio Investment Company will focus on larger portfolios above EUR 30 million in Capex and have a first right of refusal on such portfolios. The Portfolio Investment Company will invest in new portfolios for a period of 24 months after which the Portfolio Investment Company will continue to manage the portfolios acquired up until then. Axactor will continue to acquire commercially attractive portfolios below the EUR 30 million threshold on its own. The Portfolio Investment Company may acquire portfolios below EUR 30 million that Axactor does not acquire. The country operating subsidiaries of Axactor will enter into service agreements with the Portfolio Investment Company for the purpose of sourcing, managing and collecting on portfolios acquired and owned by the Portfolio Investment Company.

The Portfolio Investment Company will be capitalised with minimum share capital of EUR 12,000 and with additional capital in the form of deeply subordinated income sharing notes (the "Income Sharing Notes") in the total amount of EUR 60 million. Axactor and Geveran will each own 50 per cent of the share capital of the Portfolio Investment Company, and each of Axactor and a company affiliated with Geveran will invest EUR 30 million in the Income Sharing Notes. The affiliate of Geveran has also committed to provide additional financing in the form of subordinated loan notes (the "Subordinated Loan Notes") in the amount of EUR 120 million with an interest margin of 650 bps over EURIBOR. In addition, the Portfolio Investment Company has obtained commitment from a leading Nordic bank for a senior secured debt facility (the "Senior Secured Debt Facility") in the amount of EUR 120 million with a two year tenor whereof 40 million is an accordion facility. It is expected that final documentation for the Income Sharing Notes, the Subordinated Loan Notes and the Senior Secured Debt Facility will be completed in early Q4-2017.

Subject to final loan documentation, the Portfolio Investment Company will have a total investment capacity of around EUR 300 million and a highly competitive capital structure with attractive
equity returns.

Both Axactor and Geveran will be represented in the Board of Directors of the Portfolio Investment Company and will have veto rights on major decisions such as portfolio acquisitions and additional financing of the Portfolio Investment Company. Axactor will prepare and present business cases for portfolio purchases within the scope of the Portfolio Investment Company's business objective to the Board of Directors of the Portfolio Investment Company. The Investment Partnership Agreement also includes other customary provisions for this type of partnerships.

"We are very pleased to have entered into binding agreements for the establishment of the Portfolio Investment Partnership and soon be ready to make portfolio acquisitions in line with the plan that was communicated earlier. The Portfolio Investment Company alone has capacity to invest close to EUR 300 million with the total financing that has been secured at an attractive cost of capital. We see a strong pipeline of opportunities of portfolios of all sizes." says Endre Rangnes, CEO of Axactor.

DNB Markets, a part of DNB Bank ASA is acting as financial adviser and Advokatfirmaet Haavind AS is acting as legal adviser to Axactor in relation to the Portfolio Investment Company.

For additional information, please contact:
Endre Rangnes, CEO Axactor, Mob: +47 4822 1111, Email: endre.rangnes@axactor.com
Geir Johansen, CFO & IR, Axactor, Mob: +47 4771 0451, Email: geir.johansen@axactor.com
OldNick
01.11.2017 11:52
#19636

Axactor kom med sin Q3-rapport i dag morges.

Resultatene er ikke allverden, men som de påpeker, Q3 er vanligvis et stille kvartal da det er feriemåned i Europa.

Det ble dog positivt resultat - for 2'dre kvartal på rad. Vil regne med at det vil fortsette.

AXA: Axactor Q3-2017 - Continues to deliver on strategy, with rapid development and growth

Børsmelding
01.11.2017

Highlights third Quarter of 2017

- Continued positive operational performance and to grow the business.
- Signed and closed a co-investment partnership with Geveran Trading Co. Limited, with a EUR 300 million investment capacity.
- Future growth opportunities fueled by additional funding facilities from the banks, in addition to the partnership with Geveran.

- Gross Revenue of EUR 23.6 million (11.1)
- EBITDA of EUR 2.0 million (-0.8)
- Cash EBITDA at EUR 6.2 million (-0.1)
- Net result positive with EUR 0.3 million (-2.1)

Axactor continued to show positive operational performance in the third quarter of 2017, and to grow the business according to the communicated strategy through acquisitions of NPL (non-performing loan) portfolios and signing of new 3PC (third party collection) contracts. As notified in Q2, summer holiday both for our staff and debtors, and less number of available portfolios from banks and financial institutions during this period, led to lower activity.

Axactor achieved an EBITDA of EUR 2.0 million and Cash EBITDA of EUR 6.2 million in Q3. The corresponding numbers for the same period in 2016 was EUR -0.8 million and EUR -0.1 million. The operating margin was 10 % in Q3, compared to -7 % in the same quarter in 2016. The gross revenue of EUR 23.6 million was in line with the company's expectations.

The main event of the quarter was the signing of a letter of intent with Geveran Trading Co. Limited to enter in to a co-investment partnership (SPV) with a EUR 300 million investment capacity. The transaction was closed in October 2017. This was an important strategic milestone for Axactor, bringing the company to a new level, and puts Axactor in a position to compete for larger portfolios. In addition, Axactor has an exclusive service agreement for debt collection on behalf of the SPV, which will generate additional 3PC revenue for Axactor.

In conjunction with the signing of the partnership with Geveran, Axactor did a private placement directed at Geveran Trading Co. Limited and other large existing shareholders of Axactor, bringing Geveran to own 9.96 per cent of the outstanding shares in Axactor. Axactor's total investment capacity at the end of Q3 totals more than EUR 430 million and this could be further increased as we
conclude the re-financing discussion of the current RCF with our Nordic banks during Q4. The company's total financial position supports continued rapid development and growth, in line with the
communicated strategy.

Axactor's development over the last two years, and the opportunities that have emerged as a result of the partnership with Geveran, means that Axactor in record time has evolved from being a startup company to being a long-term challenger with a strong position in our markets. But the ambitions are considerably higher.

"We are pleased with the development and implementation of our strategy in Axactor's first two years, and are impressed by the organization's ability to execute initiatives to reach our growth targets. From the start in December 2015, we have developed the company to be a top 10 provider in Europe, with ambitions of significant growth over the coming years. Q3 is usually the quarter of the year with the lowest activity level in our industry, primarily because of the summer holiday and consequently less portfolios available in the market. Despite this, we maintain rapid development and growth, in line with our high ambitions", says Rangnes.

On 11 September Axactor acquired two portfolios of NPL Loans including auto financing and personal loans in Germany, with an outstanding balance of EUR 25.7m across more than 4,000 cases. In July Axactor signed a total of 4 new 3PC contracts with financial institutions in Spain and Germany for a combined estimated annual revenue of EUR 5 million. The contracts are renewable every 12 months.

The market for sales of NPL portfolios remains strong, with Spain and the Nordics currently being the most active markets. The fourth quarter has started on a strong note, with a significant ramp up of available portfolios. In October Axactor acquired an Auto Loan Portfolio in Spain from one of the major European car manufacturers, with a total outstanding balance close to EUR 100 million and more than 10.000 claims.

With a strong capital base which enables larger portfolio acquisitions, Axactor will pursue both medium- and large sized portfolios within the secured and unsecured consumer debt space. As a continuance of the secured portfolio which Axactor acquired in Spain in Q2, we are now actively seeking portfolio opportunities within the Real Estate Owned (REOs) segment. Through AxactorŽs excellent relationship with financial institutions the company has access to a large and highly attractive pipeline, particularly in Spain. The REOs segments offers significantly higher IRRs than what we currently can expect in the unsecured market and provides further diversification to our business model. International banks have both long experience and great appetite for financing such transactions due to the portfolios high cash flow generation and short payback time.


For additional information, please contact:
Endre Rangnes, CEO Axactor, Mob: +47 4822 1111, Email: endre.rangnes@axactor.com
Geir Johansen, CFO & IR, Axactor, Mob: +47 4771 0451, Email: geir.johansen@axactor.com
OldNick
01.11.2017 11:52
#19637

AXA: Q3-2017 Report (PDF)

AXA: Q3-2017 Presentation (PPT)
______

Og så har Axactor kontraktert første store portefølge i JV med Geveran Tr. også.
Det kan være en god kurs-støtte.

AXA: Axactor closed first transaction in partnership with Geveran Trading Co. Ltd.

Børsmelding
01.11.2017

Axactor has reach an agreement with one of the leading financial institutions to execute a large primary transaction in Spain. The portfolio can be split into 3 distinct segments, one is composed of unsecured NPL's with an outstanding balance of close to EUR300m across more than 11.000 cases. The second segment contains in excess of EUR94m in secured NPL's across circa 150 cases and finally the third segment contains roughly 450 Real Estate Owned assets with an Appraisal Value of around EUR40m. This combined transaction will be one of the largest portfolios acquired by Axactor and is of a similar size to the acquisition made in Sweden earlier in the year.

This agreement will allow Axactor to reinforce its position in the Spanish NPL's market and elevate its presence in the large and growing REO's market, where the existing business in Spain already has some of the competencies required to manage large volumes both on its own portfolios as well as for third party clients. The diversification is expected to offer significant opportunities given the continued trend in portfolio sales including a variety of asset classes, both when Axactor is investing on its own or as part of a co-investment, where including secured assets will make certain investments more attractive.

"The addition of this portfolio will be significant for Axactor since the composition of the portfolio will allow Axactor to increase its presence in REO's market while reinforcing Axactor position in NPLs market. This level of diversification will allow the business to maintain the focus on delivering healthy margins through access to a much broader number of opportunities coming to market over the coming years. ", says Endre Rangnes, CEO Axactor.

"The Axactor team in Spain is delighted to close this agreement, demonstrating clearly the determination of the team to develop the business across all NPL segments..", says Andrés López and David Martín, General Managers of Axactor Spain.

This transaction will be funded from existing cash and credit lines.

For additional information, please contact:
Endre Rangnes, CEO Axactor, Mob: +47 4822 1111, Email: endre.rangnes@axactor.com
Geir Johansen, CFO & IR, Axactor, Mob: +47 4771 0451, Email: geir.johansen@axactor.com
______

DNB's kommentar til AXA Q3-rapport:

Axactor - SPV hits the ground running

Initial comment
Recommendation: BUY
Price target: NOK5

Axactor reported Q3 results that were slightly below consensus expectations with a net profit of EUR0.3m, vs consensus at EUR1.3m and our estimate of EUR1.6m. The deviation was a result of somewhat weaker results on most revenue lines and slightly higher costs. However, we believe consensus 2018-2019 EPS estimate will be fairly unchanged on the back of the Q3 result, given the minor size of the miss. Axactor also announces a NPL acquisition in Spain with a purchasing price of around EUR60-70m, composed of a mix of secured, unsecured and Real Estate Owner claims, of which the majority of the NPL size will be allocated to the newly established SPV.

Mvh
DNB Markets
highlander
06.11.2017 14:36
#7608

DNB Markets har i dag kastet Axactor ut av sin ukesportefølje, men de har trolig fortsatt kjøpsanbefaling på aksjen...
OldNick
17.11.2017 01:26
#19676

Flere interessante meldinger fra Axactor de siste dagene, bl.a. et innsidekjøp.


AXA: Axactor enters a new forward flow agreement to acquire unsecured Non Performing Loan (NPL) portfolio in Norway

Børsmelding
14.11.2017

Oslo - Axactor has entered an agreement to acquire portfolios on a monthly basis from an International Financial Institution. The portfolios contain freshly terminated B2C cases, allowing Axactor to manage the cases throughout the whole collection process. The cases are all B2C claims with an annual balance of around EUR 2 mill.

The portfolio commitment will further strengthen Axactor's base in the Norwegian market. The transaction is, according to Axactor's strategy for further NPL development.

This portfolio demonstrates our ability to enter markets commonly perceived as closed to new players. Using Axactor's focus on data and analysis, we expect this to be one of many acquisitions over the coming years", says Oddgeir Hansen, Axactor COO.

With different types off strong portfolios in all existing markets, The Axactor team once again shows that they have managed to position themselves within trade in the Nordic region says Robin Knowles, Axactor EVP Portfolio.

The acquisition will be financed by Axactor's available cash and our existing credit facilities.


For further information, please contact:
Oddgeir Hansen, COO, Mail: oddgeir.hansen@axactor.com, Cell Phone: +47 9588 1106
Robin Knowles, EVP Portfolio Acquisitions, Mail: robin.knowles@axactor.com, Cell Phone: +44 7930 941 687
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AXA: AXACTOR ENTERS INTO A BINDING AGREEMENT FOR THE ACQUISITION OF A 75% MAJORITY SHAREHOLDING IN A SPECIAL PURPOSE VEHICLE HOLDING SPANISH REO ASSETS

Børsmelding
15.11.2017

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AXA: Axactor AB - Mandatory Notification of Trade

Børsmelding
15.11.2017

Oslo - A member of the Board of Directors of Axactor AB, Mrs. Beate Nygardshaug has on 15 November 2017 purchased 63,000 shares in the Company at an average price of 2.6700 per share. After this transaction Mrs. Nygardshaug controls 63.000 shares in the Company.
OldNick
23.11.2017 16:18
#19697

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highlander
11.12.2017 10:54
#7733

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OldNick
13.12.2017 08:47
#19749

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tåka
13.12.2017 09:14
#9175

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tåka
14.12.2017 11:08
#9176

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highlander
22.12.2017 16:28
#7796

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highlander
29.12.2017 14:05
#7816

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OldNick
06.02.2018 17:14
#19890

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Profitt
12.02.2018 13:49
#14913

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highlander
12.02.2018 14:43
#8211

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Profitt
12.02.2018 14:54
#14914

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tåka
12.02.2018 20:13
#9208

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Profitt
13.02.2018 09:07
#14915

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OldNick
13.02.2018 10:51
#19903

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highlander
13.02.2018 13:33
#8223

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tåka
13.02.2018 13:59
#9209

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highlander
15.02.2018 13:10
#8270

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tåka
15.02.2018 13:29
#9210

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