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XXL

Kalender

Est. tid*
2025-10-29 07:20 Kvartalsrapport 2025-Q3
2025-07-11 07:20 Kvartalsrapport 2025-Q2
2025-06-05 N/A X-dag ordinarie utdelning XXL 0.00 NOK
2025-06-04 N/A Årsstämma
2025-04-29 - Kvartalsrapport 2025-Q1
2025-02-07 - Bokslutskommuniké 2024
2025-01-29 - Extra Bolagsstämma 2025
2025-01-17 - Extra Bolagsstämma 2015
2024-11-28 - Extra Bolagsstämma 2024
2024-11-06 - Kvartalsrapport 2024-Q3
2024-07-22 - Split XXL 100:1
2024-07-12 - Kvartalsrapport 2024-Q2
2024-06-05 - X-dag ordinarie utdelning XXL 0.00 NOK
2024-06-04 - Årsstämma
2024-04-24 - Kvartalsrapport 2024-Q1
2024-02-08 - Bokslutskommuniké 2023
2023-10-27 - Kvartalsrapport 2023-Q3
2023-08-17 - Extra Bolagsstämma 2023
2023-07-14 - Kvartalsrapport 2023-Q2
2023-06-07 - X-dag ordinarie utdelning XXL 0.00 NOK
2023-06-06 - Årsstämma
2023-04-26 - Kvartalsrapport 2023-Q1
2023-02-08 - Bokslutskommuniké 2022
2022-10-27 - Kvartalsrapport 2022-Q3
2022-07-15 - Kvartalsrapport 2022-Q2
2022-06-03 - X-dag ordinarie utdelning XXL 0.60 NOK
2022-06-02 - Årsstämma
2022-04-27 - Kvartalsrapport 2022-Q1
2022-02-09 - Bokslutskommuniké 2021
2021-12-16 - X-dag bonusutdelning XXL 0.99
2021-10-28 - Kvartalsrapport 2021-Q3
2021-09-17 - X-dag bonusutdelning XXL 0.99
2021-09-16 - Extra Bolagsstämma 2021
2021-07-15 - Kvartalsrapport 2021-Q2
2021-06-04 - X-dag ordinarie utdelning XXL 0.00 NOK
2021-06-03 - Årsstämma
2021-04-23 - Kvartalsrapport 2021-Q1
2021-02-05 - Bokslutskommuniké 2020
2020-10-27 - Kvartalsrapport 2020-Q3
2020-07-16 - Kvartalsrapport 2020-Q2
2020-06-05 - X-dag ordinarie utdelning XXL 0.00 NOK
2020-06-04 - Årsstämma
2020-04-29 - Kvartalsrapport 2020-Q1
2020-04-24 - Extra Bolagsstämma 2020
2020-02-07 - Bokslutskommuniké 2019
2020-01-29 - Extra Bolagsstämma 2019
2019-06-06 - X-dag ordinarie utdelning XXL 0.00 NOK
2019-06-05 - Årsstämma
2019-02-12 - Bokslutskommuniké 2018
2018-10-24 - Kvartalsrapport 2018-Q3
2018-07-20 - Kvartalsrapport 2018-Q2
2018-06-07 - X-dag ordinarie utdelning XXL 2.00 NOK
2018-06-06 - Årsstämma
2018-04-25 - Kvartalsrapport 2018-Q1
2018-02-14 - Bokslutskommuniké 2017
2017-10-25 - Kvartalsrapport 2017-Q3
2017-07-21 - Kvartalsrapport 2017-Q2
2017-06-08 - X-dag ordinarie utdelning XXL 2.00 NOK
2017-06-07 - Årsstämma
2017-04-26 - Kvartalsrapport 2017-Q1
2017-02-15 - Bokslutskommuniké 2016
2016-10-26 - Kvartalsrapport 2016-Q3
2016-07-22 - Kvartalsrapport 2016-Q2
2016-06-06 - X-dag ordinarie utdelning XXL 2.00 NOK
2016-06-03 - Årsstämma
2016-04-27 - Kvartalsrapport 2016-Q1
2016-02-19 - Bokslutskommuniké 2015
2015-10-28 - Kvartalsrapport 2015-Q3
2015-07-23 - Kvartalsrapport 2015-Q2
2015-05-28 - X-dag ordinarie utdelning XXL 2.00 NOK
2015-05-27 - Årsstämma
2015-04-29 - Kvartalsrapport 2015-Q1
2015-02-25 - Bokslutskommuniké 2014
2014-11-06 - Kvartalsrapport 2014-Q3

Beskrivning

LandNorge
ListaOslo Bors
SektorHandel & varor
IndustriDetaljhandel
XXL är en norsk sportkedja. Idag är bolaget återförsäljare av flera olika varumärken, med visionen att erbjuda produkter till förmånliga outlet priser. De segment som bolaget innehar kläder och utrustning för innefattar jakt- och friluftsutrustning, vintersporter, cyklar och övriga sporter. Störst verksamhet återfinns inom den nordiska marknaden. XXL grundades 2000 och har sitt huvudkontor i Oslo, Norge.
2025-05-26 21:45:05
XXL ASA ("XXL" or the "Company") is in need of short-term liquidity in order not
to breach its financial covenants despite its topline growth in the first
quarter of 2025, as well as continued growth with approximately 4% quarter to
date in the second quarter (unaudited).

Frasers Group plc ("Frasers") has offered to provide the Company with a NOK 200
million shareholder loan (the "Shareholder Loan") or to provide a NOK 200
million guarantee as security for a new bridge loan from the Company's lending
banks (the "Bridge Loan"). The offer is conditional upon the following
conditions (the "Support Conditions"): (i) XXL receiving waivers from financial
covenants in its bank facilities per 31 May 2025, (ii) an exemption being
granted from the change of control provisions under the bank facilities that
would otherwise be triggered should Frasers become the owner of shares
representing more than 50% of the votes in XXL, and (iii) an authorization being
granted by the Company's annual general meeting that may be used to resolve the
Private Placement (as defined below).

The Company is planning a private placement of new shares at NOK 10 per share to
raise gross proceeds in the amount of minimum NOK 160 million and maximum NOK
200 million (the "Private Placement") to repay the above bridge financing.
Frasers has offered to underwrite the minimum amount of the Private Placement,
subject to being allocated at least 16 million new ordinary shares in the
Company and the Support Conditions being satisfied.

CHALLENGING SHORT TERM LIQUIDITY SITUATION
The net proceeds from the rights issue completed in March 2025 not used to repay
the Company's then outstanding bridge loan have been used for working capital
investments and further execution of the "Reset&Rethink" strategy. However, XXL
is now experiencing a challenging liquidity situation as a result of the tax
reimbursement from Swiss tax authorities in the amount of CHF 5.2 million not
being received in May 2025 as expected by the Company, and with no clear
indications from the tax authorities as to when the payment will be received.
Following the successful conclusion of an international Mutual Agreement
Procedure (MAP) and Advance Pricing Agreement (APA) between Norway and
Switzerland, XXL Europe GmbH is currently in litigation with cantonal tax
authorities regarding the implementation of the agreed MAP/APA outcomes for
Swiss income tax purposes, and legal actions have been initiated to expedite the
tax assessment and refund processes.

Further, the Company is experiencing supply chain delays, causing delays in
deliveries of bikes and thus slower topline growth than anticipated. This
situation has resulted in higher-than-expected working capital requirements for
the group.

XXL did on that basis initiate discussions with its largest shareholders and
lending banks to bridge the short-term liquidity needs, and has received an
offer from Frasers for a solution comprising the Bridge Loan guarantee or the
Shareholder Loan, and an underwritten Private Placement, subject to satisfaction
of the Support Conditions. The Company is in a constructive dialogue with the
lending banks and Altor regarding the Support Conditions, but agreements with
these parties are yet to be reached.

THE MANDATORY OFFER FROM FRASERS - UPDATED RECOMMENDATION
In its statement announced on 5 May 2025 on Frasers' NOK 10 per share Offer, the
Company's board of directors (the "Board") advised shareholders to carefully
review their options in light of the factors set out in the statement and any
other available information, and, taking into account the shareholder's
investment outlooks and the reduced liquidity of the XXL shares, to make an
independent evaluation regarding whether or not to accept the Offer. The need
for short-term liquidity in order not to breach the Company's financial
covenants per 31 May 2025 has arisen after the date of the statement referred to
above, and the fact that a solution to the liquidity shortfall has been offered
by Frasers but that the Support Conditions have not been satisfied or waived are
factors that shareholders should take into consideration when considering the
NOK 10 per share Offer from Frasers.

Further, the Board was prior to giving its statement on the Offer on 5 May 2025
informed that Altor had decided not to accept the Offer. Altor has now informed
the Board that Altor reserves its right to accept the Offer, but that no final
decision in that respect will be made until 27 May 2025. Altor holds 23,491,568
A shares (33.33% of the A shares) and 17,051,037 B shares (100% of the B
shares), in total 40,542,605 shares, corresponding to 46.32% of the total number
of shares in XXL. Should Altor decide to accept the Offer, then Frasers will
become the owner of more than two-thirds of the shares and votes in the Company.
The uncertainty as to whether Altor (and other large shareholders) will accept
the Offer, and the effects of such acceptances, if given, is also a factor that
should be taken into consideration when considering the Offer.

Given the uncertainties and other factors referred to above, the Board
recommends that shareholders accept the NOK 10 per share Offer made by Frasers.


The Board has been informed that Board member Ronny Blomseth and deputy Board
member Thomas Brandsdal (employee representative) have decided to accept the
Offer. The Board has not been informed that other primary insiders have changed
their decision relating to acceptance of the Offer.

The extended acceptance period for the Offer expires 16:30 CEST on 27 May 2025.

For further queries, please contact:


Investor Relations

Tolle O. R. Grøterud
Tel: +47 90 27 29 59
E-mail: ir@xxlasa.com

Press contact
Jan Christian Thommesen
Tel: + 47 918 21 387
E-mail: presse@xxl.no

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Tolle O. R. Grøterud, Investor Relations Officer
at XXL ASA, on 26 May 2025 at 21:45 CEST.

ABOUT XXL
ASA XXL is a leading sports retailer with stores and e-commerce in Norway,
Sweden and Finland. It is the largest among the major sports retailers in the
Nordics. XXL pursues a broad customer appeal, offering a one stop shop
experience with a wide range of products for sports, hunting, skiing, biking and
other outdoor activities. XXL's concept is to have the largest stores with the
best prices and the widest assortment of products, focusing on branded goods.