Gold Town Games rights issue oversubscribed
On May 24 2018, The Board of Directors of Gold Town Games AB voted to implement a new share issue with preferential rights for the Company’s existing shareholders of SEK 7.4 million, where the public was invited to apply for non-preferential shares.
The decision was taken with the authorization of the Annual General Meeting on June 1, 2017.
The issue comprises a maximum of 2,366,376 shares which would raise SEK 7,454,084.40 in full subscription. The subscription price was SEK 3.15 per share. Five existing shares were required to be entitled to subscribe for a new share. The subscription period expired between June 4 and June 18 2018.
In total, shares were requested for approximately SEK 9.7 million, which meant that the rights issue was oversubscribed to a total of 130 percent. The issue was subscribed to 83.8 percent through the use of preferential rights.
To accommodate the oversubscription, the Board has decided to, according to the terms and conditions, offer a further 333,333 shares at a subscription price of SEK 3.15 per share to those who have subscribed to the issue but have not yet received a full allocation. This additional issue will raise another SEK 1,050,000 for the company.
”I am very pleased that the rights issue was oversubscribed and that we can use the oversubscription issue. We are very pleased with the shareholders’ continued confidence in Gold Town Games. The rights issue gives us very good opportunities to continue increasing the number of users and sales while improving the products. The issue allows for a very exciting year, with a soft launch of World Football Manager and, above all, continue our offensive marketing for World Hockey Manager,” says the company’s CEO, Pär Hultgren.
Eminova Fondkommission was the company’s issuing agency. The company’s shares are listed at NGM Nordic MTF. The company’s mentor is Eminova Fondkommission AB.
This information is such information as Gold Town Games AB is obliged to disclose under the EU Market Abuse Regulation and the Securities Market Act. The information was provided by the above contact person, for publication on June 27, 2018 at 8.30 CET.
GOLD TOWN GAMES AB is a game development company based in Skellefteå. The company, headed by CEO Pär Hultgren, consists of a group of people with extensive experience of free-to-play gaming, which is the dominant business model in the mobile gaming industry. The company is today fully focused on sport management games for the two largest mobile platforms, IOS (Apple) and Android (Google). The company’s first game title, World Hockey Manager (WHM), was launched globally at the end of 2017. The goal is to continue to develop the popular WHM and use its proprietary technology and design platform for more team and stadium sports.