Stillfront Group AB: Stillfront approved for listing on Nasdaq First North Premier
June 28, 2017
Stillfront approved for listing on Nasdaq First North Premier
Nasdaq has approved Stillfront Group's application for listing on Nasdaq First North Premier. The requirements for a listing on Nasdaq First North Premier are more extensive than those of the list that Stillfront Group currently is listed on, and in line with the stricter rules applicable on the regulated market, main market at Nasdaq Stockholm.
With the publication of the 2016 annual report, Stillfront Group applies the International Financial Reporting Standards framework, IFRS. As of June 16, 2017, Stillfront Group applies to the Swedish Corporate Governance Code. The listing on Nasdaq First North Premier is a seal of quality that enables for additional institutional investors to invest in Stillfront Group and a stepping stone towards the main market at Nasdaq Stockholm.
Nasdaq First North Premier is a list for companies that have committed to comply with a stricter regulatory framework regarding information, accounting and corporate governance. In the annual report for 2016, Stillfront Group has transitioned to IFRS and is now applying IFRS. IFRS is an international accounting framework and a requirement for listing on both Nasdaq First North Premier and the main market at Nasdaq Stockholm. Further, Stillfront Group has chosen to follow the Swedish Corporate Governance Code, which is optional but strongly recommended for Nasdaq First North Premier and required for a listing on the main market at Nasdaq Stockholm.
"Stillfront Group has had a very positive development since its listing on Nasdaq First North. Our determined and long-term work to build a company with balanced risk / return by establishing a portfolio of studios and games has proven to yield results: We enjoy a strong growth with good profitability. The recent issue of a bond loan ensures that we have financial resources for continued growth, both through organic growth and through acquisitions.
Moving to Nasdaq First North Premier, with essentially the same rules and requirements as the main market at Nasdaq Stockholm, is a natural step towards listing on a regulated market. Applying the Swedish Corporate Governance Code and reporting finances according to IFRS, Stillfront Group meets significant parts of the requirements for companies listed on regulated markets," says Jörgen Larsson, CEO of Stillfront Group.
Stillfront Group has been listed at Nasdaq First North since December 2015. The first day of trading on Nasdaq First North Premier will be June 29, 2017.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Jörgen Larsson, CEO, Stillfront
Phone: +46 70 321 18 00
Sten Wranne, CFO, Stillfront
Tel: +46 70 585 12 58
Stillfront is a group of independent creators, publishers and distributors of digital games - with a vision to become the leading group of indie game creators and publishers. Stillfront operates through seven near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in the UK and Sweden, Dorado Online Games in Malta, Simutronics in the United States, Babil Games in UAE and Jordan and eRepublik Labs in Ireland and Romania. Stillfront's games are distributed globally. The main markets are France, UK, Germany, the United States and MENA. For further information, please visit www.stillfront.com.
Stillfront's portfolio includes games across multiple platforms. Unravel, developed by Coldwood in collaboration with Electronic Arts, won 20+ awards at E3 and gamescom and was released in February 2016. Supremacy 1914 and Call of War are high-immersion war strategy games developed by Bytro Labs. ManagerZone is a sports management strategy game launched in 2001. DragonRealms and GemStone IV are MUD-style games with a very loyal player base. Lara Croft Relic Run(TM) is a popular mobile game developed by Simutronics. Tank Storm and Admiral are mobile strategy games with very strong player bases, which are published by Babil Games. World at War is a successful mobile strategy game developed and published by eRepublik Labs.
Nasdaq First North Ticker Symbol: SF
Certified Adviser: Avanza Bank, phone +46 8 4094 2120
This information is information that Stillfront Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.45 CEST on 28 June 2017.