Brief: GetBack Lowers Domestic Debt Portfolios To 1.27 Bln Zlotys, Reviews Strategic Options

Capitea SA

19/07/2018 06:48

July 19 (Reuters) - GETBACK SA w restrukturyzacji  GBK.WA :
    * SAID ON WEDNESDAY TOTAL CONSOLIDATED VALUE OF ITS DOMESTIC
DEBT
PORTFOLIOS AS AT JUNE 30 IS 1.27 BILLION ZLOTYS VERSUS 1.66
BILLION ZLOTYS REPORTED IN ITS FINANCIAL REPORT AS AT DEC. 31,
2017
    * UNDISCOUNTED SUM OF EXPECTED FUTURE REPAYMENTS FROM OWN
NATIONAL
DEBT PORTFOLIOS IS AT 2.16 BILLION ZLOTYS AS AT JUNE 30
    * CHANGE IN PORTFOLIOS VALUE RESULTS MAINLY FROM TAKING INTO
ACCOUNT REGULATORY CHANGES REGARDING LIMITATION PERIOD,
VERIFICATION OF VALUE OF PREVIOUSLY PRESENTED PORTFOLIOS AT
PURCHASE PRICE AND EXTENSION OF TIME FRAME OF RECOVERY BY THE
COMPANY OF FULL OPERATIONAL EFFICIENCY
    * COMPANY ALSO SAID THAT IT HAS DECIDED TO INITIATE A REVIEW
OF
ITS STRATEGIC OPTIONS AIMED AT "HEALING" COMPANY'S SITUATION AND
PROTECTING ITS CREDITORS AND STAKEHOLDERS
    * CURRENTLY COMPANY IS CONSIDERING DIFFERENT OPTIONS, AMONG
OTHERS
CONVERTING ITS DEBT INTO RESERVE CAPITAL, INCREASING SHARE
CAPITAL, SELLING INDIVIDUAL ASSETS, SELLING INDIVIDUAL ASSET
CLASSES AND BRINGING IN "SIGNIFICANT" INVESTOR
    * COMPANY SAYS NO DECISIONS HAVE BEEN MADE YET, NOR THERE IS
CERTAINTY THAT THE MANAGEMENT WILL MAKE THE DECISIONS

    
 Source texts for Eikon:  urn:newsml:reuters.com:*:nEM3rNPs4a,  urn:newsml:reuters.com:*:nEM30RRG2a
    
 Further company coverage:  GBK.WA  
   


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