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    HUDL   NO0010859648

HUDDLESTOCK FINTECH AS

(HUDL)
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Huddlestock Fintech AS : - Registration of equity capital raise

06/28/2021 | 06:44am EDT
PRESS RELEASE 
 
Huddlestock Fintech AS - Registration of equity capital raise

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR
JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE
UNLAWFUL 

(Stavanger, NORWAY - 28 June 2021) Huddlestock Fintech AS - Registration of
equity capital raise

Reference is made to the announcement by Huddlestock Fintech AS (HUDL) on 7 May,
where a rights issue of between NOK 30 - 50 million was announced in connection
with the purchase of the shares of Visigion Nordic AB. Reference is further made
to the announcement made on 1 June 2021 on the results of the rights issue. 

The share capital increase of 5,278,786 new shares, as resolved by the board
meeting of the company on 7 May 2021, was registered in the Norwegian Register
of Business Enterprises on Friday afternoon, 25 June 2021. 

The new share capital of Huddlestock Fintech AS following the rights issue, is
NOK 218,400.2785 comprising 114,947,515 shares, each with a nominal value of NOK
0.0019.  

The update today is before the issuance of equity share capital to Visigon
Nordic's partners as per the press releases dated 5 May 2021 and 11 June 2021.


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

For questions, please contact investor relations. 

CONTACTS:

John E. Skajem, CEO, +47 418 87 412, jes@huddlestock.com 
Cecilia Luras, Director of Strategy & IR, +44 75 0090 5131, col@huddlestock.com 


About Huddlestock Fintech:

Huddlestock Fintech AS was listed on Euronext Growth Market 26 November 2020, as
Norway's first fintech company to be publicly traded. Huddlestock Fintech is a
company that develops unique software as a service-solutions for digitizing work
processes for custody banks, asset managers and trading venues. 

The open, compliance-optimized and data centric platform allows our customers to
offer a differentiated real-time product that reduces cost and increases
efficiency. Huddlestock Fintech's technology enables end-to-end digital services
such as onboarding, client communication, reporting, order execution and
portfolio management, all executed on the same platform. 

Huddlestock has two main products: Apex (Custody) and Bedrock (Connectivity).
Apex is a software as a service-solution that links custody services with asset
managers and individual investors. Bedrock provides a white label solution that
is primarily a product for financial services firms wanting to add low
cost-efficient trading and investing services to their client web and app
offerings. 

Huddlestock has offices in Oslo, Stavanger, Kuala Lumpur, Paris, Copenhagen,
Stockholm and Munich.

For more information, please visit www.huddlestock.com. 

  
The information included in this announcement is defined as inside information
pursuant to the EU Market Abuse Regulation article 7 and is publicly disclosed
in accordance with MAR article 17.  
 
The announcement is made by the contact persons set out above.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials
Sales 2021 23,0 M 2,64 M 2,64 M
Net income 2021 -4,00 M -0,46 M -0,46 M
Net cash 2021 60,0 M 6,90 M 6,90 M
P/E ratio 2021 -130x
Yield 2021 -
Capitalization 466 M 53,7 M 53,6 M
EV / Sales 2021 17,7x
EV / Sales 2022 5,13x
Nbr of Employees -
Free-Float 58,6%
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Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 3,91 NOK
Average target price 8,00 NOK
Spread / Average Target 105%
EPS Revisions
Managers and Directors
John Egil Skajem Chief Executive Officer
Oyvind Hovland Chairman
Murshid Mikael Ali Director
Per Øyvind Berge Director
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