Significant events during the quarter
On 5 November 2025, Quant and Quibot jointly announced a recapitalisation transaction (the “Recapitalisation Transaction”) and initiated written procedures under the Senior Secured Floating Rate Bonds 2025/2028 with ISIN SE0023314299 issued by Quant (the “Senior Secured Bonds”) and the Senior Secured Participating Debentures 2025/2040 with ISIN SE0023314307 issued by Quibot (the “Debentures”) to approve the Recapitalisation Transaction.

The Recapitalisation Transaction received the required consents under the written procedures on 26 November 2025 and was subsequently approved by a decision at an extraordinary general meeting in Quibot held on 27 November 2025.

The Recapitalisation Transaction consists of inter alia i) a transfer of all shares in Quant held by Quibot to the Debentureholders, in exchange for a full surrender of the claims under the Debentures (the “Share Transfer”), ii) an issue of new shares in Quant, directed primarily to the Debentureholders, which generated gross proceeds of EUR 5 million (the “Share Issue”), and iii) certain amendments made to the terms of the Senior Secured Bonds in order to reflect the legal and financial structure following the Recapitalisation Transaction and to afford Quant increased operational flexibility (the “Senior Secured Bonds Amendment”).

On 11 December 2025, Quibot and Quant jointly announced that the Share Transfer and the Share Issue had been completed and that the Senior Secured Bonds Amendment had entered into force. Following the completion of the Share Transfer, Quibot no longer holds any shares in Quant and does not owe any financial indebtedness under the Debentures.

Any shares in Quant that could not be transferred to Debentureholders in the Share Transfer, due to such Debentureholders not having made themselves known as set out in the written procedure for the Debentures have now been transferred to an affiliate of Stiftelsen Refectio (“Refectio”), to be held on behalf of the Agent (as representative of such Debentureholders) for a period of three months from 11 December 2025 (the “Three-Month Period”).

As further described in the notices of written procedure and in press releases, the Debentures will for technical reasons remain outstanding for the Three-Month Period. Following the expiry of that period, all Debentures will be redeemed and cancelled for zero consideration (other than such shares in Quant that have already been received by entitled Debentureholders).

The final step in the Recapitalisation Transaction is expected to comprise a liquidation of Quibot, to be initiated following the expiry of the Three-Month Period and the redemption of Debentures. It is expected that a separate notice to an extraordinary general meeting will be published including the formal proposal on the liquidation during the first quarter of 2026. Following the Share Transfer, Quibot is capitalised only to ensure that its restricted capital plus costs for any liquidation process are covered. As such, a liquidation is not expected to entail any further proceeds to Quibot's shareholders.