Mr Green changes date for the Annual General Meeting and proposes to the AGM to authorize the Board to decide on new issue of shares
The purpose of the authorization is to provide the Board with the flexibility to finance and further facilitate expansion, organically as well as through acquisitions. Mr Green’s strong brand, broad European presence and focus on Green Gaming make the company well positioned to play an active role in the consolidation of the industry.
In 2016, Mr Green introduced its new business strategy and has since then reported strong organic growth. Mr Green operates in 13 countries and focuses on continued growth in locally regulated markets. The last added market is Denmark, where Mr Green in February announced the acquisition of the online gaming company Dansk Underholdning.
”With the turnaround during the fall, we have proved that Mr Green has attractive products as well as functions, competencies and a well-functioning organization in place to continue growing organically as well as through acquisitions”, says Per Norman, CEO of Mr Green & Co. “Mr Green’s most important asset is its strong, globally viable brand. Mr Green also has a well-functioning corporate governance structure including processes to meet requirements from locally regulated markets. The company’s focus on Green Gaming tools and technical solutions are additionally important competitive advantages. The Board and the Group Management Team assess that Mr Green is well positioned to become a successful global player.”
Mr Green’s new business strategy was drawn up after the finalization of the company’s new, in-house developed technology platform. The new business strategy aim to increase revenues and improve the operational efficiency. The five cornerstones of the strategy are: brand, user experience, product offering, geographical expansion and Green Gaming (responsible gaming). As a part of the implementation of the strategy, the product offering has so far been strengthened with a sportsbook, a new live casino as well as tournaments which have resulted in strong growth.
The Board of Directors proposes that the Annual General Meeting authorizes the Board to, for the period up to the next Annual General Meeting, resolve on new share issue(s), with or without preferential rights for shareholders, and with payment through contribution in kind, by set-off or on terms in accordance with the Swedish Companies Act. The new share issue(s) may not total more than seven million shares. The reason for disapplying the preferential rights of shareholders is to enable the Board to direct new share issue(s) to Swedish and international institutional investors.
“The Board and Group Management Team deem it to be of strategic importance to the company to broaden the distribution of ownership”, says Per Norman. “Today, Mr Green has few institutional owners and we would welcome more of them as investors.”
The proposal in detail is included in the Notice of Annual General Meeting.
The Annual General Meeting takes place on Tuesday, 16 May 2017 at 5.00 p.m. CET at GT30, Grev Turegatan 30 in Stockholm, Sweden. The previously announced date for the Annual General Meeting 2017 was Monday, 24 April at 5.00 p.m. CET in Stockholm. Shareholders who are registered for the 24 April must re-register in order to attend the meeting on 16 May.
The interim report for the period January-March will be announced on Friday, 28 April at 8.00 a.m. CET.
For further information, please contact:
Per Norman, CEO of Mr Green & Co AB, tel. +46 722 30 9191, email@example.com
Åse Lindskog, Director Communications and IR, tel. +46 730 24 48 72, firstname.lastname@example.org
This information is information that Mr Green & Co AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 7.00 p.m. CET on 9 April, 2017.
Mr Green is a leading online gaming company with operations in 13 countries. The business concept is to offer entertainment and a first-class gaming experience in a responsible environment. The business was founded in 2007 and has developed into a well-established online gaming company with a broad customer offer and a strong globally viable brand. In 2016, Mr Green generated sales of SEK 924.5 million and the company has over 200 employees. The headquarters and technical development are based in Stockholm, and operations in Malta. Mr Green has gaming licences in Malta, UK and Italy. The company is listed on Nasdaq Stockholm’s main market.