Scandinavian Enviro Systems AB (publ) ("Enviro" or the "Company"), which has been undergoing company reorganisation since 27 February 2026, today adopted a revised proposal for a reorganisation plan, including a debt settlement, within the framework of the ongoing company reorganisation. The revised proposal replaces the proposal published on 26 August 2026 and primarily involves a revised classification of affected parties into groups.
Background
Enviro's company reorganisation began on 27 February 2026, following a decision by the Gothenburg District Court. Since then, the reorganisation has been extended twice, most recently up to and including 27 November 2026.
On 26 August 2026, Enviro published a proposed reorganisation plan, which was also sent to the affected parties. In light of feedback from the affected parties and the Company's own considerations, Enviro is now presenting a revised proposal for a reorganisation plan.
Revisions compared to the previous proposal
The main revision concerns the classification of the affected parties into groups, and the affected parties will continue to be divided into five groups. The previous group A, which included creditors who have asserted a right of retention, has been eliminated, and these creditors are instead transferred to a group of non-preferential creditors. Group A now consists of the Company's auditor, PwC, whose claim relating to the statutory audit is treated as a preferential claim and which is proposed to receive full payment.
The proposed debt settlement for other creditors remains unchanged. Creditors with claims under public law and non-related non-preferential creditors are proposed to receive 30 per cent of their claims, while related creditors are proposed to receive 0 per cent. Payment shall be made within three months of the plan becoming final and non-appealable; however, disputed claims shall be paid only once the dispute has been finally resolved or a binding settlement has been reached.
Reasons for the revisions
Creditors in the former group A, who have asserted a right of retention, have been asked to substantiate this right but have so far not done so. Enviro therefore assesses that these creditors should not be treated as having preferential claims, particularly since the property to which the right of retention would apply has no economic value to the Company from a going concern perspective.
Following the distribution of the previously proposed reorganisation plan, the Company's auditor, PwC, has asserted that its claim is a preferential claim, which the Company has accepted.
The revisions are intended to establish a classification into groups that accurately reflects the creditors' legal status and, consequently, to create a reorganisation plan that can be adopted by the affected parties and confirmed by the district court.
Financing
The debt settlement is financed through the agreement regarding a convertible loan and warrants that Enviro entered into on 26 August 2026 with Nordic Restructuring and Growth Capital 1. The portion of the loan intended to finance the Company's debt settlement, amounting to SEK 35 million, constitutes new financing under the plan and is proposed to be granted a general right of priority.
Next steps
The revised proposal for the reorganisation plan will be sent to the affected parties along with the reorganisation administrator's report. Enviro intends to apply shortly to the district court for plan proceedings, at which the affected parties will be divided into groups and given the opportunity to vote on the adoption of the reorganisation plan.
The revised reorganisation plan in its entirety will be published on Enviro's website, www.envirosystems.se.
For further information, please contact:
Fredrik Aaben, CEO Enviro, +46 (0) 729 70 78 91, fredrik.aaben@envirosystems.se
N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.
Scandinavian Enviro Systems contributes to enhanced environmental and economic sustainability using a patented technology for the recovery of valuable raw materials from scrapped and end-of-life products, including tires. The production of new tires using carbon black recovered with Enviro's technology reduces carbon dioxide emissions by up to 93 percent compared to virgin carbon black. Enviro has its head office in Gothenburg. Enviro was founded in 2001 and is listed on Nasdaq First North Growth Market with FNCA Sweden AB, info@fnca.se, as its Certified Advisor. www.envirosystems.se
