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Bricknode intends to initiate a delisting of its shares from Nasdaq First North Growth Market
Following the completion of the sale of all of Bricknode Holding AB's (publ) ("Bricknode") operational assets to Huddlestock Fintech AS ("Huddlestock"), which was announced by Bricknode on 4 April 2023, Bricknode does not fulfil Nasdaq's listing requirements. The board of directors of Bricknode intends to initiate a delisting of Bricknode's shares from Nasdaq First North Growth Market. In accordance with good practice in the Swedish stock market, an application for delisting will be filed no earlier than three months from today.
Due to the completion of the transaction announced on 4 April 2023, which entails that Bricknode's assets mainly consist of shares and entitlement to subscription of additional shares in Huddlestock (as further described in previous press releases and the information document published by Bricknode on Bricknode's website, www.bricknode.com) as well as a small cash position for running costs, Nasdaq Stockholm has informed Bricknode that Bricknode does not fulfil Nasdaq First North Growth Market's listing requirement that issuers shall be able to demonstrate ongoing business operations. Bricknode does not expect to have any substantial operations other than the receipt and distribution of Huddlestock shares (as further described in previous press releases and the information document). Consequently, the board of directors intends to initiate a delisting of Bricknode's shares from Nasdaq First North Growth Market.
In accordance with good practice in the Swedish stock market, an application for delisting will be filed no earlier than three months from today and only if Bricknode still at that point does not fulfil Nasdaq First North Growth Market's listing requirements. Such filing will be disclosed separately by Bricknode.
A delisting will, among other things, result in that the shares in Bricknode will no longer be subject to organised trading on Nasdaq First North Growth Market and that Bricknode will no longer be obliged to provide information to the market pursuant to the Nasdaq First North Growth Market Rulebook and the EU Market Abuse Regulation. However, the ownership of the shares in Bricknode is not affected and the shareholders of Bricknode retain the rights related to their shares in Bricknode - including rights to distribution - pursuant to the Swedish Companies Act.