Odd Molly receives Nasdaq Stockholm approval after renewed listing review

Odd Molly International AB (publ) ("Odd Molly") today received Nasdaq Stockholm's ("Nasdaq") approval after a renewed listing review. The review has been carried out in light of Nasdaq's assessment that Odd Molly, by streamlining its business to become a real estate company focused on warehousing and logistics properties and divesting the fashion business, has undergone a "substantial change of operations" according to Nasdaq's regulations. In light of Nasdaq's approval, Odd Molly intends to convene an extraordinary general meeting with the aim of distributing the shares in We aRe SpinDye (“WRSD”) during the autumn of 2021.

Odd Molly has, as previously communicated in a press release on March 26, 2021, decided to streamline the business to become a real estate company focused on warehousing and logistics properties. Since the end of 2019, Odd Molly has gradually acquired warehousing and logistics properties and the company owns 26 properties with a lettable area of 160,100 square meters with a value of 1,342.3 MSEK as of September 17, 2021.

On March 26, 2021, Odd Molly also announced that the company had entered into a letter of intent to sell the fashion business to WRSD. On July 1, 2021, WRSD acquired 100 percent of Odd Molly Sverige AB, including Used By (Odd Molly’s remaining fashion business), through payment of newly issued shares in WRSD. After the transaction, Odd Molly holds approximately 53 percent of the shares in WRSD. Odd Molly intends to distribute this holding to existing shareholders.

In accordance with Odd Molly's press release on May 5, 2021, Odd Molly is considered to have undergone a "substantial change of operations" following the above transactions, according to Nasdaq's regulations. For this reason, Nasdaq has conducted a renewed listing review of Odd Molly in order to ensure that the company continues to meet the listing requirements under Nasdaq's regulations for issuers.

Nasdaq has today concluded that Odd Molly, even after a distribution of the shares in WRSD, continues to meet the listing requirements and approved that Odd Molly's shares continue to be traded on Nasdaq Stockholm.

Nasdaq's approval after its renewed stock market review confirms the diligent work the company has done in transition to become a pure real estate company. With today's expected announcement, we can now complete the transition during the fall. At the same time, the fashion business is given exciting opportunities in its new constellation, which provides good conditions for increased shareholder value over time, says Patrik Tillman, Chairman of Odd Molly International.

The above-mentioned distribution of shares in WRSD may be made first after Nasdaq's approval and thereafter after approval at a General Meeting. Following today's approval from Nasdaq, the company intends to shortly convene an Extraordinary General Meeting with proposals to carry out the dividend in autumn 2021.

In connection with Nasdaq's review, a so-called Company Description (in Swedish) has been produced, which is available on Odd Molly's website.