Bonuslån ApS

The principal activities of the company The main activities of the Company include providing credit facilities to private individuals. As a consequence of a political intervention on the business model activity has decreased in the end of 2019 and the business model in Denmark is under reconsideration. Uncertainty regarding valuation of loans The company’s most significant asset is credit facilities to private individuals. Write-downs on credit facilities to private individuals are estimated based on limited historic data and therefore management assumptions complements the estimates. A majority, 89%, of the credit provided are in default as of 31 December 2019 and the valuation is based on the estimated ability to collect payment trough the courts or, preferred, repayment agreements. The main reason for the default amount of 89% is that management in August 2019 decided to scale down the new lending in the loan business because of an expectation of changing in regulation and a desire for better credit management. Due to already entered marketing agreements, the company in 2019 couldn’t have the full effect of the savings on marketing in the Result. Management has made a 37% value reservation but there is an inherent uncertainty in this estimate that could affect the valuation of the credit facilities with a booked value of DKK 42m if assumptions are not met.