Stillfront resolves to allot subscribed shares to the sellers of each of Imperia Online, eRepublik and Babil Games
Stillfront resolves to allot the subscribed shares in the new issues of shares to the sellers of Imperia Online JSC, eRepublik Labs. Limited and Babil Games FZ LLC respectively.
Imperia
The general meeting in Stillfront Group AB (publ) (“Stillfront” or the “Company”) resolved on 9 May 2019 on a directed new share issue of not more than 120,336 shares to the sellers of Imperia Online JSC (“Imperia”), which shall constitute part of the earn-out consideration to be paid following the Company’s acquisition of all of the shares in Imperia 2018. The earn-out consideration, which shall be paid partly in cash and partly in the form of shares in Stillfront, has now been determined to a total amount of EUR 2,661,478.00.Subscription for shares has been completed and the board of directors of Stillfront has resolved to allot 96,482 subscribed shares to the sellers of Imperia, entailing an increase of Stillfront's share capital by SEK 84,235.20. Payment for the shares has been made by way of set-off of the sellers’ claim of in total EUR 1,330,739.00 which corresponds to the part of the agreed earn-out consideration to be paid in the form of shares in Stillfront.
eRepublik
The general meeting in Stillfront resolved on 9 May 2019 on a directed new share issue of not more than 68,700 shares to the sellers of eRepublik Labs. Limited (“eRepublik”), which shall constitute part of the earn-out consideration to be paid following the Company’s acquisition of all of the shares in eRepublik 2017. The earn-out consideration, which shall be paid partly in cash and partly in the form of shares in Stillfront, has now been determined to a total amount of EUR 1,522,283.00. Subscription for shares has been completed and the board of directors of Stillfront has resolved to allot 55,361 subscribed shares to the sellers of eRepublik, entailing an increase of Stillfront's share capital by SEK 38,752.70 . Payment for the shares has been made by way of set-off of the sellers’ claim of in total EUR 761,141.50 which corresponds to the part of the agreed earn-out consideration to be paid in the form of shares in Stillfront.
Babil
The general meeting in Stillfront resolved on 9 May 2019 on a directed new share issue of not more than 54,330 shares to the sellers of Babil Games FZ LLC.(“Babil”), which shall constitute part of the earn-out consideration to be paid following the Company’s acquisition of all of the shares in Babil 2016. The earn-out consideration, which shall be paid partly in cash and partly in the form of shares in Stillfront, has now been determined to a total amount of USD 1,700,000.00. Subscription for shares has been completed and the board of directors of Stillfront has resolved to allot 54,330 subscribed shares to the sellers of Babil, entailing an increase of Stillfront's share capital by SEK 38,031.00. Payment for the shares has been made by way of set-off of the sellers’ claim of in total USD 850,000.00 which corresponds to the part of the agreed earn-out consideration to be paid in the form of shares in Stillfront.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andreas Uddman, CFO
Phone: +46 70 080 78 46
About Stillfront
Stillfront is a global group of gaming studios and a market leader in the free-to-play online strategy games genre. Our diverse and exciting games portfolio has two common themes; loyal users and long lifecycle games. Organic growth and carefully selected and executed acquisitions embody our growth strategy and our 600 co-workers thrive in an organisation that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, France and UK. We are headquartered in Stockholm, Sweden and the company, is listed on Nasdaq First North Premier. For further information, please visit: stillfront.com
Certified Adviser:
FNCA,
Phone: +46 8 528 00 399
E-mail: info@fnca.se