Resurs: offer the distribution of the Solid Försäkring subsidiary

Resurs Holding AB (“Resurs”) announced in May 2021 that the company had initiated a strategic review with the aim of listing its subsidiary Solid Försäkringsaktiebolag (“Solid Försäkring”) on the main market of Nasdaq Stockholm. Consequently, the Board decided today to propose that an Extraordinary General Assembly be held on November 2, 2021 decides to distribute all the shares of Solid Försäkring to Resurs shareholders.

The objective is to list Solid Försäkring on the main Nasdaq Stockholm market during the current quarter and thus to proceed with the distribution of the shares of Solid Försäkring according to the rules of the Lex ASEA.1. Provided that the Extraordinary General Assembly of November 2, 2021 approves the distribution proposed by the Council, Resurs shareholders will receive shares of Solid Försäkring based on their current stake in Resurs. Ten (10) shares of Resurs give right to one (1) share in Solid Försäkring.

The Board also decided to propose to the General Meeting to authorize it to set the settlement date for the distribution of Solid Försäkring shares.

In recent years, Solid Försäkring has grown into a competitive and stable non-life insurance company with a diversified Nordic niche insurance profile and high creditworthiness. The Council considers that due to its size in relation to the Resurs Group, Solid Försäkring does not receive the attention or attention warranted by the position and future potential of Solid Försäkring, and that the value of the company is not fully reflected in the Resurs share price. Divide the Resurs Group and the distribution and listing of shares of Solid Försäkring offers the potential to generate significant shareholder value over time and will allow the two companies to focus on their respective businesses. A separate listing offers greater opportunities for higher organic growth and additional acquisitions, and also allows current shareholders and new investors to invest directly in Solid Försäkring.

The strategic review and preparations for the separate listing of Solid Försäkring resulted in one-time costs of approximately 15 million Swedish kronor who will be billed to Resurs third quarter earnings. Besides, Resurs expects other one-time costs of approximately 25 million Swedish kronor to be charged to fourth quarter results. The Insurance business line, which consisted of Solid Försäkring, will be recognized as a discontinued operation in the fourth quarter interim report. The third quarter interim report will be published on October 26, 2021 and year-end report on February 8, 2022.

More information on the Solid Försäkring share distribution project for Resurs shareholders will be published in an information brochure on Resurs site www.resursholding.com on 12 October 2021.

More information:Nils carlsson, CEO, [email protected], +46 42 38 20 00
Sofie Tarring Lindell, CFO & Head of IR, [email protected], +46 73 644 33 95

This information is information such as Resurs Holding AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation. The information has been submitted for publication, through the contact persons indicated above, on October 4, 2021 To 6:15 p.m. CEST

[1] In summary, the Lex ASEA means that a parent company may, under certain circumstances, distribute the shares of a subsidiary to its shareholders without the distribution triggering immediate taxation for those shareholders who are subject to unlimited taxation in Sweden (the acquisition cost for the shareholder of the shares of the parent company is rather distributed between the shares of the parent company and the shares received in the subsidiary).

ABOUT SOLID FÖRSÄKRING
Solid Försäkring was founded in 1993 and is today a successful company in the insurance industry. The emphasis is on niche coverage, with the Nordic region as the main market. The company partners with leading retail chains in a variety of industries and has approximately 2.3 million customers in the Nordic region.

IN REGARDS TO HOLDING OF RESURS
Resurs Holding (Resurs), which operates through subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering niche payment solutions, consumer loans and insurance products. Since its creation in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of around 6 million private customers in the Nordic countries. Resurs Bank has held a banking license since 2001 and is supervised by the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the second quarter of 2021, the Group had 735 employees and a loan portfolio of SEK 31.1 billion. Resurs is listed on Nasdaq Stockholm.

https://news.cision.com/resurs-holding/r/resurs-holding-to-propose-the-distribution-of-subsidiary-solid-forsakring,c3426758

https://mb.cision.com/Main/9628/3426758/1476797.pdf

(c) Decision 2021. All rights reserved., source Press Releases – English

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