Stillfront Group AB: Stillfront completes the acquisition of eRepublik Labs
June 27, 2017
Stillfront completes the acquisition of eRepublik Labs
Stillfront Group AB (publ) ("Stillfront") has completed the acquisition of 100% of the shares in eRepublik Labs. Limited ("eRepublik" or the "Company") which was announced through a press release on 30 May 2017. The acquisition was conditional upon there not having appeared or occurred any event or circumstance that has or is reasonably likely to have a material negative impact on the Company's and its subsidiary's or Stillfront's consolidated revenues between the date of the acquisition agreement and the date of completion of the acquisition. The condition has been fulfilled and Stillfront has acquired the shares in eRepublik. The purchase price that Stillfront paid to the Sellers of eRepublik ("Sellers") in connection with the closing amounted to EUR 7,500,000, of which EUR 4,050,000 was paid in cash and the remaining EUR 3,450,000 in 441,233 newly issued shares in Stillfront. Stillfront has previously resolved on the new share issue in kind which was announced through a press release on 20 June 2017. In connection with the closing, the Sellers subscribed for all the new issued shares and the board of directors of Stillfront resolved to allot the subscribed shares to the Sellers. Following the new share issue, Stillfront's share capital will amount to SEK 4,497,505.60 and the total number of shares to 6,425,008.
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.
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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 19.35 CEST on 27 June 2017.