GetBack postpones Q1 report indefinitely

Troubled WSE-listed debt collector GetBack has postponed the publication of its Q1 results without specifying the new date. Initially, the report was scheduled to be released on July 23. Furthermore, the district court in Wrocław, scheduled a meeting of the company’s creditors for August 28 in order to settle the restructuring deal. GetBack said that he was obliged, among others to promptly (no later than within 3 days) submit to the files of the restructuring proceedings updated arrangement proposals with confirmed copies for all creditors included in the list of receivables. The company has started the review of strategic options last week. It considers various options, including conversion of debt into share capital, capital increase, sale of assets, or acquisition of a significant investor. Trading of GetBack shares has been suspended since April. For 2017, the company estimates had some PLN 1.2 billion in losses and PLN 3.3 billion in liabilities.