Home Bancorp Wisconsin, Inc. Announces Dissolution

Rhea-AI Summary

Home Bancorp Wisconsin, Inc. (OTCPK: HWIS) has announced its voluntary dissolution under Maryland law. The company is winding up operations and preparing to distribute cash assets to stockholders, as detailed in its proxy statement from January 28, 2022. Distributions are anticipated to occur in late October 2022, though they may be delayed. Additionally, there is a risk that Home Bancorp's shares could be removed from the OTC Pink marketplace, which may affect the trading status before distributions are made.

Positive

• Expected cash distribution to stockholders.
• Clear communication of process in the proxy statement.

Negative

• Risk of stock removal from OTC Pink marketplace.
• Potential termination of trading before distributions.

MADISON, Wis.--(BUSINESS WIRE)-- Home Bancorp Wisconsin, Inc. (Home Bancorp) (OTCPK: HWIS), the holding company of Home Savings Bank, announced today that it has voluntarily dissolved under Maryland law and is now winding up its operations and preparing to distribute assets, consisting solely of cash, to its stockholders. The expected amount of the distribution to stockholders is discussed in Home Bancorp’s proxy statement dated January 28, 2022 for the stockholder meeting to approve the dissolution. A copy of such proxy statement can be found on Home Bancorp’s website at homebancorpwisconsin.com. It is expected that distributions will be made in late October 2022, although the distribution could be later. We intend to notify stockholders of the amount per share to be distributed by issuing a press release prior to making distributions.

Home Bancorp’s common stock continues to be quoted on the OTC Pink marketplace. Home Bancorp’s shares may be removed from the OTC Pink marketplace and trading in Home Bancorp’s shares may be terminated completely due to circumstances that are within or not within our control at any time prior to the date on which distributions are made to stockholders. There can be no guarantee when Home Bancorp’s shares will be removed from the OTC Pink marketplace, or that trading in Home Bancorp stock will not be terminated, without notice, prior to the date on which distributions are made to stockholders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220805005454/en/

James Bradley

Chairman of the Board and CEO - Home Bancorp Wisconsin, Inc.

(608) 282-6116

JBradley@home-savings.com

Source: Home Bancorp Wisconsin, Inc.

FAQ

What is the current status of Home Bancorp Wisconsin, Inc. (HWIS)?

Home Bancorp Wisconsin, Inc. has voluntarily dissolved and is winding up its operations.

When will Home Bancorp (HWIS) distribute assets to stockholders?

The distribution of assets is expected to occur in late October 2022, but it may be delayed.

What could happen to Home Bancorp's shares on the OTC Pink marketplace?

There is a risk that Home Bancorp's shares could be removed from the OTC Pink marketplace, affecting trading.

How will stockholders be notified about the distribution amount?

Stockholders will be notified of the distribution amount through a press release prior to the distributions.