Huddlestock Fintech AS (OSE: HUDL): Completion of acquisition of Trac Services AS and Tracs Technology AS and share capital increase

28 Mar 2023 10:40 CEST

28.3.2023 10:40:40 CEST | Huddlestock Fintech AS | Additional regulated
information required to be disclosed under the laws of a member state

Huddlestock Fintech AS - Completion of acquisition of Trac Services AS and Tracs
Technology AS and share capital increase.

Stavanger, Norway, 28 March 2023

Reference is made to the stock exchange release by Huddlestock Fintech AS ("
Huddlestock") published on 5 July 2022 (the "Report"), announcing the
acquisition of the companies Trac Services AS and Tracs Technology AS ("Tracs").
Following the receipt of ownership approval from the Norwegian Financial
Surveillance Authorities, as published in a stock exchange release on 28
February 2023, the agreement to acquire Tracs has been executed on 28 March
2023.

Upon executing the agreement, the board of directors in Huddlestock has resolved
to issue 12 732 819 new shares in Huddlestock to the sellers of Tracs by way of
a private placement using Tracs as contribution in kind. The board of directors
have additionally resolved to issue 1 923 076 shares by way of a private
placement in cash to Njord Group AS, for a total of NOK 5 000 000. Both private
placements have been resolved using a subscription price of NOK 2,6 per share.

Reference is further made to information provided in the Report on lock-up
arrangement for the Sellers of Tracs. Following a discussion on the
interpretation of the lock-up undertaking from seller Njord Group AS included in
the definitive agreement of the transaction, Huddlestock has accepted that the
consideration shares received by Njord shall not be subject to lock-up from the
date of issuance.

The sellers of Tracs excluding Njord Group AS have entered into a twelve-month
lock-up agreement for all shares issued as described above following the
execution of the agreement.



For further information, please contact:

John E. Skajem, CEO, + 47 418 87 412, john.skajem@huddlestock.com.

Disclosure regulation

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

* John E. Skajem, CEO, +47 418 87 412, jes@huddlestock.com

ABOUT HUDDLESTOCK FINTECH AS

Huddlestock Fintech is an innovative technology software provider with a leading
expert professional services business. We deliver innovative and sustainable
technology solutions to the capital markets, treasury and wealth management
industries.

Through its technology offering, Huddlestock offers an innovative, compliant,
and data-centric WealthTech SaaS, accelerating the digital transformation, and
trends of hyper-personalization and on-demand banking within the wealth
management industry. Huddlestock's SaaS empowers the embedding of low-cost,
efficient white-label trading and investment services, underpinning
Huddlestock's mission of delivering financial inclusion by democratizing access
to capital markets.

Through its world-class expert professional services business, Huddlestock
delivers strategic technology solutions and process automation for the financial
services industry. This range of services has propelled Huddlestock into
becoming the preferred supplier of financial consultancy services and technology
solutions in the Nordic region. Huddlestock Fintech AS was listed on Euronext
Growth Market 26th November 2020, as Norway's first fintech company to be
publicly traded.

For more information, please visit www.huddlestock.com -
http://www.huddlestock.com/



ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848032/2212/2995/Download%20announcement
%20as%20PDF.pdf

More information:
Access the news on Oslo Bors NewsWeb site

586353_en_Download announcement as PDF.pdf