Home Bancorp Wisconsin, Inc. Announces Expected Distribution of $28.15 per Share to Stockholders and the Termination of Trading in its Stock on the OTC Market in Connection with Its Plan of Dissolution

Rhea-AI Summary

Home Bancorp Wisconsin announced a distribution of $28.15 per share to stockholders, effective approximately November 21, 2022, following its voluntary dissolution plan initiated on March 8, 2022. The final winding up process is expected to take up to three years, with nominal remaining funds thereafter. Stock trading on the OTC Pink marketplace will cease on or before November 21, 2022, and shares will be cancelled upon distribution. Computershare will act as the paying agent for the cash distribution process.

Positive

• Approval of a cash distribution of $28.15 per share to stockholders.
• Voluntary dissolution plan initiated, providing a clear exit strategy for shareholders.

Negative

• The company is in dissolution, indicating no future business operations.
• Shares will be removed from the OTC Pink marketplace, ending trading for investors.

MADISON, Wis.--(BUSINESS WIRE)-- Home Bancorp Wisconsin, Inc. (“the Company”) (OTCPK: HWIS), is the former holding company of Home Savings Bank. The Company is in dissolution and today announced that its Board of Directors has approved a distribution of $28.15 per share to its stockholders effective on or about November 21, 2022. This distribution will be made in accordance with the Company’s previously announced voluntary Plan of Dissolution approved on March 8, 2022.

Dissolution Plan Update

The Company expects the final winding up process to take up to three years and that the amount of any funds remaining following the completion of such process, will be nominal. After completion of the final winding up process following dissolution, the Board of Directors expects that it will donate any remaining funds to one or more charitable organizations.

Removal from the OTC Pink Marketplace

The Company’s common stock continues to be quoted on the OTC Pink marketplace. The Company anticipates that its shares will be removed from the OTC Pink marketplace on or before November 21, 2022 and that further trading will not be permitted after that date. There can be no guarantee on the timing of when the Company’s shares will be removed from the OTC Pink marketplace, and the Company does not intend to provide an additional notice of its removal.

The Company’s Paying Agent

The Company has appointed Computershare to serve as the Company’s paying agent for the distribution. You may contact Computershare with any question about your shares and the distribution.

Below is the contact information for Computershare:

Computershare
Attn: Corporate Actions
150 Royall Street
Suite 101
Canton, MA 02021
Phone: 1-800-546-5141

Stockholders who hold shares in book entry accounts at our transfer agent, Computershare, will receive checks in the amount of their cash distribution and their shares will be cancelled. Stockholders who hold shares through a broker or other DTC registered nominee will receive their cash distribution directly into their account at such broker or other nominee and their shares will be cancelled. Stockholders with any shares represented by certificates will receive a letter of transmittal with instructions on how to return their certificates in exchange for the cash distribution.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221031005801/en/

James Bradley

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

(608) 282-6116

Source: Home Bancorp Wisconsin, Inc.

FAQ

When is the distribution date for HWIS stockholders?

The distribution date for HWIS stockholders is approximately November 21, 2022.

What is the amount of the distribution for HWIS shareholders?

HWIS shareholders will receive a distribution of $28.15 per share.

How will HWIS shareholders receive their cash distribution?

Shareholders will receive their cash distribution via checks or directly into their brokerage accounts, depending on how they hold their shares.

Will HWIS shares continue to trade after November 21, 2022?

No, HWIS shares will cease trading on or before November 21, 2022.

Who is the paying agent for the HWIS distribution?

Computershare has been appointed as the paying agent for the HWIS distribution.