Huddlestock Fintech AS (OSE: HUDL)
Huddlestock Fintech AS – Implementation of purchase of Trac Services AS and Tracs Technology AS and share capital increase.
Stavanger, Norway, 28 March 2023
Reference is made to the stock exchange announcement from Huddlestock Fintech AS (“Huddlestock”) published on 5 July 2022 (“the Report”), which announces the acquisition of the companies Trac Services AS and Tracs Technology AS (“Tracs”). After receiving ownership approval from Finanstilsynet, as published in a stock exchange announcement on 28 February 2023, the agreement to buy Tracs was entered into on 28 March 2023.
Upon completion of the agreement, the board of Huddlestock has decided to issue 12,732,819 new shares in Huddlestock to the sellers of Tracs through a directed issue using Tracs as a deposit in kind. The board has also decided to issue 1,923,076 shares in a directed issue in cash to Njord Group AS, totaling NOK 5,000,000. Both directed issues have been approved with a subscription price of NOK 2.6. Per share.
Reference is also made to information provided in the Report on the locking scheme for sellers of Tracs. Following a discussion on the interpretation of the lock-up obligation from the seller Njord Group AS included in the final agreement on the transaction, Huddlestock has accepted that the consideration shares received by Njord shall not be subject to lock-up from the issue date.
The sellers of Tracs, except Njord Group AS, have entered into a twelve-month lock-up agreement for all shares issued as described above after the execution of the agreement.
For further information, please contact:
John E. Skajem, CEO, + 47 418 87 412, [email protected].
Disclosure regulations
This information is mandatory according to § 5-12 of the Norwegian Securities Trading Act.
Disclosure regulations
This information is mandatory according to § 5-12 of the Norwegian Securities Trading Act.
Contacts
- John E. Skajem, CEO, +47 418 87 412, [email protected]
About Huddlestock Fintech AS
Huddlestock Fintech is an innovative technology software provider with a leading expertise in professional services. We deliver innovative and sustainable technology solutions to the capital markets, finance and asset management industry.
Through its technology offering, Huddlestock offers an innovative, compliant and data-centric WealthTech SaaS, which accelerates the digital transformation and trends of hyper-personalization and on-demand banking within the wealth management industry. Huddlestock’s SaaS powers the integration of affordable, efficient white-label trading and investment services, underpinning Huddlestock’s mission to deliver financial inclusion by democratizing access to capital markets.
Through its world-class professional services business, Huddlestock delivers strategic technology solutions and process automation for the financial services industry. This range of services has driven Huddlestock to become the preferred provider of financial consulting services and technology solutions in the Nordics. Huddlestock Fintech AS was listed on the Euronext Growth Market on 26 November 2020, as Norway’s first fintech company to be listed on the stock exchange.
For more information, please visit www.huddlestock.com
Attachments
- Download the announcement as PDF.pdf
© NTB Norge, source NTB English Regulatory Releases
