Scandinavian Enviro Systems AB (publ) ("Enviro" or the “Company”) will today submit an application to the Gothenburg District Court to extend the ongoing company reorganisation of Enviro by three months, until 27 August 2026. As part of the extension application, the board of directors has assessed that Enviro has sufficient liquid funds to operate the business during the additional three months of the reorganisation. Enviro simultaneously provides an update regarding the Company’s financial position and activities carried out during the initial period of the reorganisation.
Application for extension of the company reorganisation
Enviro’s company reorganisation was granted by the Gothenburg District Court on 27 February 2026. The initial reorganisation period runs through 27 May 2026. Enviro will today, after consultation with the administrator, apply for an extension of the company reorganisation by an additional three months. Subject to the Gothenburg District Court granting the application, the reorganisation period will be extended by an additional three months through 27 August 2026.
An extension of the company reorganisation is a necessary prerequisite for completing the ongoing negotiations regarding long-term financing and for preparing and presenting a reorganisation plan.
Update regarding liquid funds
As part of the application for extension of the reorganisation, Enviro has prepared an updated liquidity budget. The liquidity budget demonstrates that Enviro has sufficient liquid funds to continue operating the business during an extension of the reorganisation. The Company forecasts that liquid funds will amount to approximately SEK 20 million at the end of May 2026. During a continued reorganisation period, the Company intends to strengthen its liquidity by requesting that Alumni Capital Limited subscribe for newly issued shares in the Company for a value of SEK 5 million. Taking this financing into account, the Company is expected to have liquid funds of just over SEK 5 million at the end of August.
Update regarding financial position and activities carried out
Since the commencement of the reorganisation, Enviro has implemented several important measures to strengthen its financial position, including the following:
Enviro assesses that the secured financing, together with the measures taken as set out above and the ongoing cash flow from the business, creates the conditions for a successful completion of the reorganisation and the achievement of a long-term sustainable capital structure. Based on the ongoing licensing negotiations and the letters of intent entered into, Enviro assesses that revenues from the sale of services, such as technical services, regulatory services and licence revenues, may begin to be generated as early as autumn 2026.
Approximate timeline for the continued reorganisation and expected debt write-down
Subject to the district court granting an extension of the reorganisation, Enviro is preliminarily expected to be able to present a reorganisation plan during July or August 2026. Together with the reorganisation plan, financing for the implementation of the plan will be presented. The reorganisation plan will contain a proposal for debt write-down. Enviro’s preliminary assessment is that the Company may offer unsecured creditors payment corresponding to at least 25 per cent of such claims, to be paid three months after a reorganisation plan has become final and non-appealable. This estimate is preliminary and may be subject to change in the final reorganisation plan.