Today, 2024-07-31, the notification period starts for the first round of redemption of class B shares in Bricknode Holding AB in exchange for shares in Huddlestock Fintech AS. As a shareholder of Bricknode Holding AB, you will shortly be contacted by your bank/brokerage firm where you keep your shares.
The details can be seen in the document below.
Questions and answers
Q: Where can I find detailed information about the offer?
A: The offer document is available on this page-
Q: My bank/custodian where I hold my Bricknode holding today does not handle foreign securities. Can I still take part in the offer?
A: If your bank/custodian cannot store/handle foreign securities, you cannot participate in the offer. We recommend that you open an account with a bank/trustee (eg Avanza or Nordnet) where you can move your shares and then participate in the next redemption procedure, which will also be the last before Bricknode Holding AB is liquidated.
Q: How are the shares in Huddlestock delivered as they are not a Swedish security?
A: Delivery will be made to your manager’s custodian account in Norwegian VPS, where they hold their Norwegian holdings for their underlying clients. These will then reflect your holdings on your depot. This delivery will take place around week 39.
Q: How are factions handled? For example, if you have 109 shares in Bricknode, what happens to the last 9 that are not evenly divisible by 10?
A: The last 9 cannot be submitted in this offer, only full tens must be reported. These will therefore remain at your depot. When Bricknode Holding AB has been liquidated, any money left in the company will be distributed to the remaining shareholders, alternatively it is conceivable that the company organizes some larger owners who are willing to offer money to buy the rounded shares that remain.
Q: What happens if the Redemption Offer is not completed?
A: Should the offer not be completed, all Bricknode shares will be returned to your depository.
Q: It doesn’t say what happens if you decline the redemption, what is the alternative?
A: The shareholders are free to choose whether they want to use the redemption offer in whole or in part and thereby reduce their holding of B shares in Bricknode Holding AB, or alternatively not to use the redemption offer and thus retain their current shareholding in the company until further notice. As previously announced, however, the current plan is to liquidate Bricknode Holding AB as soon as all significant assets have been distributed to the company’s shareholders. If you do not accept the offer, it means that Bricknode Holding will ultimately have to sell the Huddlestock shares that you would have received and then distribute any money left over in connection with a liquidation, which could take several years.