Cherry exercises option to acquire a further 12.5% of the shares of Highlight Games
Cherry AB (publ) – STO: CHER-B.ST – has today decided to exercise its option to acquire an additional 12.5 percent of the shares of Highlight Games Ltd for a purchase price of GBP 2.5 million. Cherry’s total ownership in Highlight Games after the exercise will amount to 37.5 percent. The purchase is financed by cash.
Highlight Games offers a unique and patented product, together with multi-year rights to use footage from historical football matches to create unique virtual sports content. Currently, preparations are underway for the launch of the company’s innovative gaming products for the virtual sports gaming market, both online and physically, and with content from, for example, league football. During the third quarter, the company completed tests of different language versions of SOCCERBET, a game with content from league football. The company has also initiated negotiations on establishing operations in Italy, which, in addition to the UK, is one of the larger key markets in Europe.
Cherry has an option to acquire a further 13.3 percent in two further tranches over the next 12 months.
For further information, please contact:
Anders Holmgren, CEO, tel: +46 708 607 534, firstname.lastname@example.org
Christine Rankin, CFO, tel: +46 765 399 492, email@example.com
Anders Antonsson, IR & Communications, tel: +46 709 994 970, firstname.lastname@example.org
This information is such that Cherry AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication under the auspices of the contacts detailed above on 29 November 2017, at 7.20 p.m. CET.
CHERRY IN BRIEF
Cherry is a Swedish innovating and fast-growing gaming company established in 1963. The business strategy is to create shareholder value by owning and developing fast growing and profitable businesses within the gaming and casino industry. Today, Cherry operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,100 people and has about 6,900 shareholders. The company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se.