Stillfront Group will report its second quarter results of 2023 on Friday 21 July 2023 at 7:00 a.m. CEST. The report will be presented in a live webcast at 10:00 a.m. CEST the same day.
Jörgen Larsson, CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast:
If you wish to participate via webcast, please use the link below.
https://ir.financialhearings.com/stillfront-q2-2023
To participate via phone:
If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=200881
About Stillfront
Stillfront is a global games company founded in 2010. We develop digital games for a diverse gaming audience and our broad games portfolio is enjoyed by more than 60 million people every month. Stillfront is focused on realizing synergies by connecting and empowering game teams globally through our Stillops platform. We are a fast-growing company and an active global strategic acquirer. Our 1,500+ professionals thrive in an organization that embodies the spirit of entrepreneurship. Stillfront shares (SF) are listed on Nasdaq Stockholm Large Cap. For further information, please visit: stillfront.com
Stillfront Group AB (publ) has successfully concluded the share repurchase program that was announced on 15 February 2023. Stillfront’s acquisitions of own shares commenced on 16 February 2023 and were concluded on 11 May 2023. No acquisitions were made during the period 3 April 2023 – 3 May 2023. Stillfront has in total acquired 13,441,510 own shares under the share repurchase program for a total amount of approximately 270 MSEK. The acquired shares will be used for payment of certain earn-out payments relating to previous acquisitions.
Stillfront’s annual general meeting on 11 May 2023 authorized the board to resolve on new share repurchase programs during the period until the next annual general meeting.
The total number of shares in Stillfront amounts to 513,199,454. At the time of this press release, Stillfront holds 13,441,510 own shares.
For additional information, please contact:
Andreas Uddman, CFO, Stillfront Group
Phone: +46 70 080 78 46
E-mail: andreas@stillfront.com
About Stillfront
Stillfront is a global games company founded in 2010. We develop digital games for a diverse gaming audience and our broad games portfolio is enjoyed by more than 60 million people every month. Stillfront is focused on realizing synergies by connecting and empowering game teams globally through our Stillops platform. We are a fast-growing company and an active global strategic acquirer. Our 1,500+ professionals thrive in an organization that embodies the spirit of entrepreneurship. Stillfront shares (SF) are listed on Nasdaq Stockholm Large Cap. For further information, please visit: stillfront.com
Stillfront Group will report its first quarter results of 2023 on Wednesday 3 May 2023 at 7:00 a.m. CEST. The report will be presented in a live webcast at 10:00 a.m. CEST the same day.
Jörgen Larsson, CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast:
If you wish to participate via webcast, please use the link below.
https://ir.financialhearings.com/stillfront-q1-2023
To participate via phone:
If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=200705
About Stillfront
Stillfront is a global games company founded in 2010. We develop digital games for a diverse gaming audience and our broad games portfolio is enjoyed by almost 70 million people every month. Stillfront is focused on realizing synergies by connecting and empowering game teams globally through our Stillops platform. We are a fast-growing company and an active global strategic acquirer. Our 1,500+ professionals thrive in an organization that embodies the spirit of entrepreneurship. Stillfront shares (SF) are listed on Nasdaq Stockholm Large Cap. For further information, please visit: stillfront.com
Stillfront Group today announced that Björn Tönne joins Stillfront as Chief Information Officer (CIO) and member of Stillfront Group’s executive management team.
Björn has experience from many different IT roles across industries and has vast experience in running large IT operations. Before joining Stillfront, Björn held IT leadership positions at Klarna where he worked with transforming and developing the IT operations and execute on technology strategies to effectively grow and support the business.
Björn has a solid experience working with software engineering, cloud services, engineering leadership, and development. Previous experience includes roles as Head of Operations at IBM and Senior Vice President Operations at EVRY.
“It is with great pleasure I welcome Björn to the Stillfront team. As CIO, Björn will be providing strategic IT leadership and direction for Stillfront’s studios and further strengthen the group’s technology solutions that drive collaboration and operational excellence throughout the group”, says Jörgen Larsson, CEO, Stillfront.
“I am absolutely thrilled about joining Stillfront and I am eager to contribute with my skills and experience as Chief Information Officer. Not only is Stillfront a great games company but I also share Stillfront’s beliefs in innovation and collaboration. By working together, we can achieve amazing things and I'm looking forward to learning from my new colleagues”, says Björn Tönne.
Björn assumes his position today, April 20, 2023.
About Stillfront
Stillfront is a global games company founded in 2010. We develop digital games for a diverse gaming audience and our broad games portfolio is enjoyed by almost 70 million people every month. Stillfront is focused on realizing synergies by connecting and empowering game teams globally through our Stillops platform. We are a fast-growing company and an active global strategic acquirer. Our 1,500+ professionals thrive in an organization that embodies the spirit of entrepreneurship. Stillfront shares (SF) are listed on Nasdaq Stockholm Large Cap. For further information, please visit: stillfront.com
Stillfront Group is pleased to invite investors, analysts and the media to a digital capital markets day, Wednesday, 15 February 2023 at 15:00 CET.
The purpose of the capital markets day is to give an update on Stillfront Group’s strategy as well as deep dives into Stillfront’s operations and Stillops platform, financials, ESG, synergies, live ops and product development.
The event will include presentations by Stillfront’s CEO Jörgen Larsson and members of the executive management team, with participation from the leadership of Stillfront’s studios Jawaker and 6waves.
Date: February 15, 2023
Link: https://ir.financialhearings.com/stillfront-cmd-2023
Time: 15:00 CET to approximately 17:30 CET
Further information, including the full agenda, will be available on the Stillfront Group corporate website (https://www.stillfront.com/en/cmd-2023/) in advance of the event.
A recorded version of the web cast will be available on stillfront.com after the event.
About Stillfront
Stillfront is a global games company founded in 2010. We develop digital games for a diverse gaming audience and our broad games portfolio is enjoyed by almost 70 million people every month. Stillfront is focused on realizing synergies by connecting and empowering game teams globally through our Stillops platform. We are a fast-growing company and an active global strategic acquirer. Our 1,500+ professionals thrive in an organization that embodies the spirit of entrepreneurship. Stillfront shares (SF) are listed on Nasdaq Stockholm Large Cap. For further information, please visit: stillfront.com
Stillfront Group will report its full-year results of 2022 on Wednesday 15 February 2023 at 7:00 a.m. CET. The report will be presented in a live webcast at 10:00 a.m. CET the same day. Jörgen Larsson, CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast:
If you wish to participate via webcast please use the link below.
https://ir.financialhearings.com/stillfront-q4-2022
To participate via phone:
If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=5004791
About Stillfront
Stillfront is a global games company founded in 2010. We develop digital games for a diverse gaming audience and our broad games portfolio is enjoyed by almost 70 million people every month. Stillfront is focused on realizing synergies by connecting and empowering game teams globally through our Stillops platform. We are a fast-growing company and an active global strategic acquirer. Our 1,500+ professionals thrive in an organization that embodies the spirit of entrepreneurship. Stillfront shares (SF) are listed on Nasdaq Stockholm Large Cap. For further information, please visit: stillfront.com
Stillfront will publish its full-year 2022 results on Wednesday 15 February 2023. On the same day, Stillfront will host a digital Capital Markets Day.
Stillfront Group will report its fourth quarter and full-year 2022 results on Wednesday 15 February 2023 at 07:00 CET. The report will be presented in a live webcast at 10:00 CET the same day, as usual.
In the afternoon on the same day, Stillfront will host a digital Capital Markets Day between 15:00 – 17:30 CET. The Capital Markets Day provides an opportunity for investors, financial analysts, and financial media to get an update on the strategy and development of Stillfront.
The event will include presentations by Stillfront’s CEO Jörgen Larsson and members of the executive management team, as well as deep dives in Stillfront’s operations and Stillops platform, with participation from the leadership of some of Stillfront’s studios.
For more information, please visit: https://www.stillfront.com/en/cmd-2023/
An invitation including a link to the event and detailed agenda will follow.
About Stillfront
Stillfront is a global games company founded in 2010. We develop digital games for a diverse gaming audience and our broad games portfolio is enjoyed by almost 70 million people every month. Stillfront is focused on realizing synergies by connecting and empowering game teams globally through our Stillops platform. We are a fast-growing company and an active global strategic acquirer. Our 1,500+ professionals thrive in an organization that embodies the spirit of entrepreneurship. Stillfront shares (SF) are listed on Nasdaq Stockholm Large Cap. For further information, please visit: stillfront.com
Stillfront has committed to set near-term company-wide emission reduction targets in line with climate science and with the Science Based Targets initiative (SBTi).
During 2022, Stillfront conducted its first reduction impact analysis which has resulted in an activity plan and framework for the group’s first near-term climate targets. By joining the SBTi, Stillfront will now seek to get its near-term emission reduction targets validated and approved by the SBTi – an ambition stated in the 2021 Annual Report.
Stillfront has created a solid data collection model for its decentralized organization, and has conducted yearly greenhouse gas emission disclosures since 2019. In our latest disclosures, scope 1 and 2 emissions made up 3 percent of the group’s total emissions. Stillfront’s largest climate footprint, totaling 97 percent, lies within scope 3, which contains Stillfront’s users’ emissions when playing the games, as well as emissions from digital marketing.
Stillfront will now focus on implementing sufficient actions to reduce emissions from our own operations as well as initiating projects related to reducing energy when gamers play our games.
“Our business in digital entertainment reches almost 70 million monthly active users. We are eager to work together with our gaming population to reduce emissions and future-proof our business”, says Jörgen Larsson, CEO & Founder, Stillfront Group.
The SBTi is a partnership between CDP (Climate Disclosure Project), the United Nations Global Compact, World Resources Institute (WRI) and the Worldwide Fund for Nature (WWF).
For additional information, please contact:
Sofia Wretman, EVP Communication & Sustainability, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a global games company founded in 2010. We develop digital games for a diverse gaming audience and our broad games portfolio is enjoyed by almost 70 million people every month. Stillfront is focused on realizing synergies by connecting and empowering game teams globally through our Stillops platform. We are a fast-growing company and an active global strategic acquirer. Our 1,500+ professionals thrive in an organization that embodies the spirit of entrepreneurship. Stillfront shares (SF) are listed on Nasdaq Stockholm Large Cap. For further information, please visit: stillfront.com
Stillfront has utilized its two-year extension option of its revolving credit facility of SEK 3.75 billion with a new maturity date in December 2025. The extension is done at the same terms as the original facility signed in December 2020. With the extension, Stillfront ensures continued cost-effective financing and financial flexibility, while improving the maturity profile of its debt portfolio.
“We are pleased to have secured an extension of our revolving credit facility. The extension underlines the strong support for our strategy from our banking partners and further improves our maturity profile”, says Andreas Uddman, CFO.
The facility is supported by DNB Bank ASA, Sweden Branch; Nordea Bank Abp, filial i Sverige; and Swedbank AB (publ). Mannheimer Swartling has acted as legal advisor to Stillfront.
For additional information, please contact:
Andreas Uddman, CFO, Stillfront Group
Phone: +46 70 080 78 46
E-mail: andreas@stillfront.com
About Stillfront
Stillfront is a global games company founded in 2010. We develop digital games for a diverse gaming audience and our broad games portfolio is enjoyed by almost 70 million people every month. Stillfront is focused on realizing synergies by connecting and empowering game teams globally through our Stillops platform. We are a fast-growing company and an active global strategic acquirer. Our 1,500+ professionals thrive in an organization that embodies the spirit of entrepreneurship. Stillfront shares (SF) are listed on Nasdaq Stockholm Large Cap. For further information, please visit: stillfront.com
Stillfront’s subsidiary in India, Moonfrog Labs, which was acquired in February 2021, has business operations in Bangladesh through a company called Ulka Games. Ulka Games publishes localized adaptations of Moonfrog Labs’ games, primarily the game Teen Patti Gold.
Recently, Bangladeshi authorities have carried out a series of restrictive measures targeting different forms of online gaming activities. Currently the law enforcement agencies of Bangladesh are considering the use of virtual chips in online gaming as an act of illegal online gambling though no regulation in this regard has yet entered into force.
As part of the above-described measures taken by the Bangladeshi authorities, Stillfront was as per this week informed that a formal investigation relating to alleged online gambling activities has been initiated by the Bangladeshi authorities against some of the members of the management and representatives of Ulka Games, and certain officials of Ulka Games’ shareholders, including Stillfront.
As of now, no formal charges have been filed. Stillfront and its subsidiaries monitor the process closely together with local legal advisors. Ulka Games holds a formal license from the Bangladeshi authorities to offer the game Teen Patti Gold within the country. Further, none of the games provided by Ulka Games in Bangladesh allow for real money to be transferred out of the game.
Due to the measures now taken by Bangladeshi authorities including the new interpretation of what constitutes online gaming as opposed to online gambling under the laws of Bangladesh, Stillfront finds it unviable to conduct online gaming business in Bangladesh under these circumstances. Through its subsidiary Moonfrog Labs, Stillfront has therefore decided to evaluate a potential process to close Moonfrog Labs’ operations in Bangladesh.
The financial impact of a potential discontinuation of the operations in Bangladesh is non-material for the group. For the first nine months of 2022, Ulka Games generated approximately 1 percent of Stillfront Group’s total net revenues and 2 percent of the group’s total EBITDA.
Moonfrog Labs has shown solid growth since becoming part of Stillfront and a potential decision to close its operations in Bangladesh would have no impact on Moonfrog Labs’ business outside of Bangladesh.
About Stillfront
Stillfront is a global games company founded in 2010. We develop digital games for a diverse gaming audience and our broad games portfolio is enjoyed by almost 70 million people every month. Stillfront is focused on realizing synergies by connecting and empowering game teams globally through our Stillops platform. We are a fast-growing company and an active global strategic acquirer. Our 1,500+ professionals thrive in an organization that embodies the spirit of entrepreneurship. Stillfront shares (SF) are listed on Nasdaq Stockholm Large Cap. For further information, please visit: stillfront.com
Stillfront Group will report its third quarter results of 2022 on Wednesday 26 October 2022 at 7:00 a.m. CEST. The report will be presented in a live webcast at 10:00 a.m. CEST the same day.
Jörgen Larsson, CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast, please visit:
https://ir.financialhearings.com/stillfront-q3-2022
To participate via phone, please call:
SE: +46850516386
UK +442031984884
US: +14123176300
Pin code: 2841856#
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,500+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Japan, MENA, Germany and UK. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. For further information, please visit: stillfront.com
Stillfront Group will report its second quarter results of 2022 on Thursday 21 July 2022 at 7:00 a.m. CEST. The report will be presented in a live webcast at 11:00 a.m. CEST the same day. Please observe that the webcast will be held one hour later than usual.
Jörgen Larsson, President & CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast, please visit:
https://tv.streamfabriken.com/stillfront-q2-2022
To participate via phone, please call:
SE: +46 8 505 583 73
UK: +44 33 330 092 73
US: +1 64 672 249 57
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,500+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Japan, MENA, Germany and UK. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. For further information, please visit: stillfront.com
Stillfront Group will report its first quarter results of 2022 on Wednesday 4 May 2022 at 7:00 a.m. CEST. The report will be presented in a live webcast at 10:00 a.m. CEST the same day.
Jörgen Larsson, President & CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast, please visit:
https://tv.streamfabriken.com/stillfront-q1-2022
To participate via phone, please call:
SE: +46 8 505 583 53
UK: +44 33 330 092 64
US: +1 64 672 249 56
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,350+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. For further information, please visit: stillfront.com
Stillfront Group today announced that Alexandre Salem will join Stillfront as Senior Vice President Operations & Platforms and member of Stillfront’s Group business management team. Alexandre joins Stillfront most recently from Huawei where he was Global Director of Gaming Partnerships.
Alexandre has vast experience from the gaming industry and previous experience includes roles such as Gaming Lead EMEA Partnerships Solutions at Google and Global Advertising Monetization Director at King.
As SVP Operations & Platforms, Alexandre Salem’s role will be to boost scalability and growth tracks, and to strengthen Stillfront and its studios partnerships with the various platforms where it distributes its games. Alexandre will also directly support and govern a selection of studios within the group by being a partner in their efforts to drive performance and continue their successful journeys.
“I am very happy to welcome Alexandre in joining the team as SVP Operations & Platforms. Alexandre has an impressive background and expertise from many disciplines within the games industry and he will be an important part of the business operations team, supporting our ever-growing portfolio of game studios”, says Alexis Bonte, COO, Stillfront.
“I am delighted to join Stillfront, I have been following and admiring this company for many years and I look forward to contributing to their success story. During my interactions with Stillfront’s leadership I was impressed by their clear vision to keep creating unique gaming experiences for players across platforms, genres, and geographies”, says Alexandre Salem.
Alexandre Salem will assume his position on February 21, 2022.
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,250+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. For further information, please visit: stillfront.com
Stillfront Group announces its full-year results for 2021 on 16 February 2022 at 7:00 a.m. CET. The report will be presented in a live webcast at 10:00 a.m. CET the same day.
Jörgen Larsson, President & CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast, please visit:
https://tv.streamfabriken.com/stillfront-q4-2021
To participate via phone, please call:
SE: +46 8 566 427 04
UK: +44 333 300 90 32
US: +1 631 913 14 22 (PIN only for US: 89290062#)
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,250+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. For further information, please visit: stillfront.com
Stillfront Group AB (publ) (“Stillfront”) has completed the acquisition of 100 percent of the shares in Six Waves Inc. (“6waves”), which was announced through a press release on 19 January 2022 (the “Transaction”).
The upfront purchase price, which has been paid to the sellers of 6waves on 31 January 2022, amounted to USD 201 million on a cash and debt free basis (the “Upfront Purchase Price”). Of the Upfront Purchase Price, approx. 8 percent was paid in 2,913,857 newly issued shares in Stillfront through a directed share issue to the sellers, and the remaining approx. 92 percent was paid in cash to the sellers.
The new share issue was resolved on 31 January 2022 by the board of directors of Stillfront by virtue of the authorization granted at the Extraordinary General Meeting held on 4 October 2021. The reason for the deviation from the shareholders’ pre-emption right is to enable Stillfront to fulfill its commitments made in connection with the acquisition of 6waves. The subscription price per share amounted to SEK 50.501 and corresponds to the volume weighted average price per share in Stillfront traded on Nasdaq Stockholm during the consecutive ten trading days up to and including 17 January 2022.[1]
Through the new issue of the shares, the share capital of Stillfront increases by SEK 203,969.99. The newly issued shares were subscribed and paid for by way of set-off of claims by the sellers on 31 January 2022. The issued shares shall entitle to dividend as from the first record day for dividend after such shares have been registered with the Swedish Companies Registration Office and in the share register kept by Euroclear Sweden AB. The new issue of the shares results in a dilution for the current shareholders in Stillfront of approx. 0.75 percent on a fully diluted basis (i.e. based on the total number of shares and votes outstanding after the share issue).
Operational founders and key employees in 6waves may in addition to the Upfront Purchase Price receive an earn-out of maximum 1.0x EBITDA of each of the financial years 2022, 2023, 2024 and 2025, based on achieving certain operational targets, capped at a total of USD 100 million. The earn-out is payable 75 percent in cash and 25 percent in newly issued shares in Stillfront. The subscription price for newly issued shares paid as a part of the earn-out consideration (if any) will be based upon the volume weighted average price of the shares in Stillfront traded on Nasdaq Stockholm for a period of ten consecutive trading days up to and including the day before Stillfront’s announcement of financial results for the applicable earn-out period[2].
The new shares in Stillfront that today have been issued as payment of part of the Upfront Purchase Price, as well as any new shares issued as part of any earn-out payment, are and will be subject to customary transfer restrictions.
Operational sellers in 6waves only receiving cash consideration have received 75 percent of their portion of the Upfront Purchase Price, and will also receive 75 percent of any earn-out payment, on the respective due date and the remaining portion as a deferred consideration payable at the end of the transfer restriction period. The deferred portion of the Upfront Purchase Price is approximately USD 1 million. The operational founders and other key employees in 6waves will remain within 6waves and be part of the management of 6waves post-completion of the Transaction and are covered by the earn-out agreement between 2022-2025.
All other conditions for completion have now been fulfilled. 6waves will be consolidated into Stillfront’s consolidated financial reporting from 1 February 2022.
Important information
This announcement is not and does not form a part of any offer for sale of securities. Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Hong Kong, Japan, Canada, Switzerland, South Africa or New Zealand or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.
This announcement is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States or any other jurisdiction. Any securities that may be issued in connection with the transactions referred to in this announcement will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly will not be offered or sold in the United States.
This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 (together with any applicable implementing measures in any Member State).
This press release may contain certain forward-looking statements that reflect Stillfront’s current views or expectations of future events and financial and operational performance, including statements relating to the transaction and statements regarding guidance, planning, prospects and strategies. Words such as “intends”, “anticipates”, “expects”, “plans”, “estimates”, “may”, and similar expressions regarding indications or predictions of future developments or trends that are not based on historical facts, constitute forward-looking information. Although Stillfront believes that these statements are based upon reasonable assumptions and expectations, Stillfront cannot give any assurances that any such forward-looking statements will materialize. Because these forward-looking statements involve both known and unknown risks and uncertainties, actual results may differ materially from the information set forth in the forward-looking information. Forward-looking statements in this press release apply only at the time of the press release and are subject to change without notice. Stillfront undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise, other than as required by applicable law or stock market regulations.
[1] Converted into USD at the average exchange rate between SEK and USD of the Swedish Central Bank (Sw. Riksbanken) published at https://www.riksbank.se/en-gb/ during the same period.For additional information, please contact:
Jörgen Larsson, CEO, Stillfront Group
Phone: +46 70 321 18 00
E-mail: jorgen@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,250+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. For further information, please visit: stillfront.com
At Stillfront’s Capital Markets Day in Stockholm today starting at 15:00 CET, CEO Jörgen Larsson and other members of Stillfront’s Group Management will provide an update on the group’s strategy execution, financial model and provide a more in-depth view on Stillfront’s business.
“When we communicated our updated strategy in November 2019, we had a clear agenda on the path forward. We have since then significantly diversified our audience, genres, and our revenue streams. Across our studios, we have successfully implemented an ESG program, accelerated synergies and collaborations, increased the number of games with sustained profitability, expanded our market reach and strengthened our Stillops platform. Three times as big as we were two years ago, we keep executing on our strategy and stay committed to our financial targets and ambition to build the leading free-to-play powerhouse”, says Jörgen Larsson, CEO.
The presentations will cover several topics including how Stillfront works with its studios after being acquired, a deep dive on the financial model, and further details on recent and upcoming game launches including titles such as DogLife, BitLife DE, Iron Order 1919, The General, Love and Passion, and SIEGE: Apocalypse.
Speakers at Stillfront’s Capital Markets Day include Jörgen Larsson, CEO; Alexis Bonte, COO; Andreas Uddman, CFO; Marina Andersson, Head of M&A; Phillip Knust, CPO; as well as representatives from Stillfront’s studios Goodgame Studios, Moonfrog Labs, Candywriter and Sandbox Interactive.
Further information regarding the event, including a complete agenda, is available on Stillfront’s website on https://www.stillfront.com/en/capital-markets-day-2021/
The presentations will be held in English and the event will be streamed live at https://www.stillfront.com/en/capital-markets-day-2021/. The webcast is expected to end at 18:00 CET. No pre-registration for participation on webcast is required.
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,250+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. For further information, please visit: stillfront.com
Stillfront Group today announced that Amy Lee will join Stillfront as Senior Vice President Synergies & Operations and member of Stillfront’s Group business management team. Amy joins Stillfront from Blizzard Entertainment where she was Head of Product Management Mobile.
As SVP Synergies & Operations, Amy Lee will focus on maximizing the value of Stillfront’s eco-system of growing game studios, working closely together with the other members of the group business management team. Amy’s role will be to support and govern certain designated studios within the group by being a backing partner in their efforts to drive performance and continue their successful journeys.
Amy has extensive experience from the gaming industry covering positions within product development, user acquisition and live operations. Previous experience includes her role as Lead Product Manager at Walt Disney, where she led the product management team and drove live operations of free-to-play Disney mobile titles. Prior to Walt Disney, Amy was a Performance Marketing Analyst at Nexon.
“I am very happy to welcome Amy in joining the team as SVP Synergies & Operations. One of Stillfront’s most important value drivers are the synergies and collaborations created between our studios. With Amy’s impressive background and expertise from many disciplines within the games industry, she will play an important role in maximizing the value of our unique Stillops platform for our studios”, says Alexis Bonte, COO, Stillfront.
“I am incredibly excited to be joining Stillfront Group in this new role. Stillfront consists of amazing game studios and has a massive opportunity to build a powerful ecosystem to maximize value and continue driving growth. I am excited to partner closely with the studios to support their growth and help the group execute against the opportunity,” says Amy Lee.
Amy will assume her position on November 15, 2021.
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,250+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. For further information, please visit: stillfront.com
Stillfront Group announces its interim results for July – September 2021 on November 10, 2021, at 7:00 a.m. CET. The report will be presented in a live webcast at 10:00 a.m. CET the same day.
Jörgen Larsson, President & CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast, please visit:
https://tv.streamfabriken.com/stillfront-q3-2021
To participate via phone, please call:
SE: +46 8 505 583 59
UK: +44 33 330 092 64
US: +1 64 672 249 57
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,200+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. For further information, please visit: stillfront.com
Stillfront invites analysts, investors, and members of the media to join us for our Capital Markets Day.
Welcome to join us on November 17, 2021 at 15:00-18:00 CET online or at Skyddsrummet, Söder Mälarstrand 25B, Stockholm, Sweden.
The event will be packed with inspirational talks, panel discussions and updates on Stillfront’s strategy and position in the market. We’ll also take a deep dive into several of the studios in Stillfront’s ever-growing group including Moonfrog Labs, Candywriter and Sandbox Interactive.
For more information, agenda, and registration for participation in person at Skyddsrummet, please visit https://www.stillfront.com/en/capital-markets-day-2021/
No preregistration is needed for participation via webcast. The number of seats is limited at Skyddsrummet. Please note that your participation is not confirmed until you have received a confirmation e-mail.
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,200+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. For further information, please visit: stillfront.com
Stillfront Group AB (publ) ("Stillfront") has completed the acquisition of 100 percent of the shares in Jawaker FZ LLC ("Jawaker"), which was announced through a press release on September 8, 2021 (the “Transaction”). The sellers of Jawaker are the founders and main owners, the investment company Media Zone Investments FZ LLC (“twofour54”) and certain employees.
The total upfront purchase price, which has been paid to the sellers of Jawaker on the date hereof, amounted to USD 205 million, on a cash and debt free basis (the "Upfront Purchase Price"). Of the Upfront Purchase Price, 26 percent was paid in 8,540,092 newly issued shares in Stillfront through a directed share issue to the sellers (except for Media Zone Investments FZ LLC that received cash consideration only), and the remaining 74 percent of the Upfront Purchase Price was paid in cash to the sellers.
The new share issue was resolved on the date hereof by the board of directors of Stillfront based on the mandate granted by the Annual General Meeting held on 11 May 2021. The reason for the deviation from the shareholders’ pre-emption right is to enable Stillfront to fulfill its commitments made in connection with the acquisition of Jawaker. The subscription price per share related to the Upfront Purchase Price amounts to 54.140 SEK and corresponds to the volume weighted average price per share in Stillfront traded on Nasdaq Stockholm during the twenty trading days up to and including September 6, 2021, converted into USD at the average exchange rate between SEK and USD of the Swedish Central Bank (Sw. Riksbanken) published at https://www.riksbank.se/en-gb/ during the same period.
Through the new issue of the shares, the share capital of Stillfront will increase by SEK 597,806.44. The newly issued shares were subscribed and paid for by way of set-off of claims by the sellers on the date hereof. The issued shares shall be entitled to dividend as from the first record day for dividend after such shares have been registered with the Swedish Companies Registration Office and in the share register kept by Euroclear Sweden AB. Through the new issue of the shares in connection with the completion of the Transaction, the dilution for the current shareholders in Stillfront is approx. 2.2 percent on a fully diluted basis (i.e. based on the total number of registered shares and votes in Stillfront as per the date hereof (including new shares which have been registered in the period since the acquisition was announced on September 8, 2021) and the shares that have been issued in relation to the Transaction).
Certain sellers may receive an earn-out payment of up to USD 20 million payable in cash, if Jawaker reaches certain EBIT targets for 2021. The earn-out payment for 2021 will be zero for the midpoint of the expected EBIT range for 2021. In addition, certain sellers may receive additional earn-out payments of 1.0x EBIT of Jawaker for each of the financial years 2022, 2023, 2024, 2025 and 2026. The earn-out consideration for 2022-2026 is payable 70 percent in cash and 30 percent in newly issued shares in Stillfront. The subscription price for newly issued shares related to the earn-out purchase price (if any) will be based upon the volume weighted average price of the shares in Stillfront traded on Nasdaq Stockholm for a period of ten trading days up to and including the day before Stillfront's announcement of financial results for the applicable earn-out period converted into USD at the average exchange rate between SEK and USD of the Swedish Central Bank (Sw. Riksbanken) published at https://www.riksbank.se/en-gb/ during the same period.
All other conditions for completion have now been fulfilled. Jawaker will be consolidated into Stillfront’s consolidated financial reporting from October 1, 2021.
IMPORTANT INFORMATION
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in such jurisdictions, in which this press release has been released, announced, or distributed, should inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Stillfront in any jurisdiction, neither from Stillfront nor from someone else.
This press release does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the new shares. Any investment decision in connection with the share issue must be made on the basis of all publicly available information relating to Stillfront and Stillfront’s shares. Such information has not been independently verified by Stillfront. The information contained in this press release is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this press release or its accuracy or completeness.
This press release does not constitute a recommendation concerning any investor’s option with respect to the share issue. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this press release and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933 (the "Securities Act"), as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a Transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into, the United States, the United Kingdom, Australia, Hong Kong, Japan, Canada, Switzerland, Singapore, South Africa, New Zealand or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. Stillfront has not authorized any offer to the public of shares or rights in any member state of the EEA and no prospectus has been or will be prepared in connection with the share issue to the sellers of Jawaker. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation.
In the United Kingdom, this press release and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, "qualified investors" (within the meaning of the United Kingdom version of the EU Prospectus Regulation (2017/1129/ EU) which is part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018) who are (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.
Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in Stillfront have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "EU Target Market Assessment"). Solely for the purposes of each manufacturer's product approval process in the United Kingdom, the target market assessment in respect of the shares in the Company has led to the conclusion that: (i) the target market for such shares is only eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook, and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MiFIR"); and (ii) all channels for distribution of such shares to eligible counterparties and professional clients are appropriate (the "UK Target Market Assessment" and, together with the EU Target Market Assessment, the "Target Market Assessment"). Notwithstanding the Target Market Assessment, distributors should note that: the price of the shares in Stillfront may decline and investors could lose all or part of their investment; the shares in Stillfront offer no guaranteed income and no capital protection; and an investment in the shares in Stillfront is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the share issue to the sellers of Jawaker.
For the avoidance of doubt, the target market assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II or UK MiFIR; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in Stillfront.
Each distributor is responsible for undertaking its own target market assessment in respect of the shares in Stillfront and determining appropriate distribution channels.
For additional information, please contact:
Jörgen Larsson, CEO, Stillfront Group
Phone: +46 70 321 18 00
E-mail: jorgen@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,200+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. For further information, please visit: stillfront.com
Stillfront Group invites analysts, investors, and members of the media to its Capital Markets Day which will be held on November 17, 2021, at 15:00-18:00 CET, in Stockholm, Sweden.
The Capital Markets Day is scheduled as a physical event with all necessary health and safety precautions taken considering the ongoing Covid-19 pandemic. The event will also be streamed live for those who prefer to participate remotely.
The Capital Markets Day will include an update on Stillfront’s strategy and position as well as deep dives into a number Stillfront’s game studios.
A formal invitation, including an agenda and registration details for the event, will be distributed closer to the event.
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
Stillfront Group announces its interim results for April-June 2021 on August 11, 2021, at 7:00 a.m. CEST. The report will be presented in a live webcast at 10:00 a.m. CEST the same day.
Jörgen Larsson, President & CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast, please visit:
https://tv.streamfabriken.com/stillfront-q2-2021
To participate via phone, please call:
SE: +46 8 505 583 52
UK: +44 33 330 092 68
US: +1 64 672 249 04
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,250+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and France. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. For further information, please visit: stillfront.com
Stillfront Group AB (publ) (“Stillfront”) has completed the acquisition of 100% of the shares in Game Labs Inc., a Delaware corporation, ("Game Labs"). The acquisition was announced earlier today on 7 May 2021 and the sellers are the joint founders and management of Game Labs.
The total upfront consideration, which has been paid to the sellers as of the date hereof, amounted to USD 32.5 million on a cash and debt free basis. Of the upfront consideration USD 9.75 million was paid by set-off by transfer of 981,813 newly issued shares in Stillfront through a directed share issue to the sellers of Game Labs, and the remining part of the upfront consideration was paid in cash. The consideration for the cash payment was financed by cash at hand and available credit facilities.
The new share issue was resolved on the date hereof by the board of directors of Stillfront based on the mandate granted at the extraordinary general meeting held on 17 December 2020. The reason for the deviation from the shareholders’ pre-emption right is to allow that Stillfront will be able to fulfill its commitments made in connection with the acquisition of Game Labs. The subscription price per share related to the upfront consideration amounts to SEK 83.586 (determined through negotiations between the sellers and Stillfront) and corresponds to the volume weighted average price per share in Stillfront traded on Nasdaq First North Premier Growth Market during the ten trading days up to and including 6 May 2021 converted into USD at the average exchange rate between SEK and USD of the Swedish Central Bank (Sw. Riksbanken) published at https://www.riksbank.se/en-gb/ during the same period.
Through the new share issue, Stillfronts share capital will increase by SEK 68,726.91. The issued shares shall be entitled to dividend as from the first record day for dividend after such shares have been registered with the Swedish Companies Registration Office and in the share register kept by Euroclear Sweden AB. Through the new issue of the shares in connection with the completion of the transaction, the dilution for the current shareholders in Stillfront is approx. 0.27 percent on a fully diluted basis (i.e. based on the total number of shares and votes registered in Stillfront after completion of the share issue in relation to the transaction).
In addition, the sellers may receive an earn-out payment for each of the financial years 2021, 2022 and 2023 depending on the EBIT development of Game Labs during each of those financial years, however not exceeding USD 30 million in aggregate. The earn-out consideration will be payable 70 percent in cash and 30 percent in newly issued shares in Stillfront to the sellers during the subsequent year of the respective earn-out period. The subscription price for newly issued shares related to the earn-out payments (if any) will be based upon the volume weighted average price of the shares in Stillfront traded on Nasdaq Firth North Premier Growth Market or such other market place on which Stillfront's shares are listed for a period of ten trading days prior to the date of Stillfront’s announcement of financial results for the applicable earn-out period converted into U.S. Dollars at the average exchange rate between SEK and US Dollars of the Swedish Central Bank published at https://www.riksbank.se/en-gb/ during the ten day period set forth above.
All conditions for closing have now been fulfilled. Game Labs will be consolidated into Stillfront’s consolidated financial reporting from May 2021.
IMPORTANT INFORMATION
Distribution of this press release
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in such jurisdictions, in which this press release has been released, announced or distributed, should inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Stillfront in any jurisdiction, neither from Stillfront nor from someone else.
This press release does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the new shares. Any investment decision in connection with the share issue must be made on the basis of all publicly available information relating to Stillfront and Stillfront’s shares. Such information has not been independently verified by Stillfront. The information contained in this press release is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this press release or its accuracy or completeness.
This press release does not constitute a recommendation concerning any investor’s option with respect to the share issue. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this press release and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933 (the “Securities Act“), as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a Transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into, Australia, Canada, Japan, Hong Kong, New Zealand, Singapore, South Africa, Switzerland, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the “Prospectus Regulation“) and has not been approved by any regulatory authority in any jurisdiction. Stillfront has not authorized any offer to the public of shares or rights in any member state of the EEA and no prospectus has been or will be prepared in connection with the mentioned share issue. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation.
In the United Kingdom, this press release and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, “qualified investors” who are (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.
Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the “MiFID II Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in Stillfront have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “Target Market Assessment”). Notwithstanding the Target Market Assessment, distributors should note that: the price of the shares in Stillfront may decline and investors could lose all or part of their investment; the shares in Stillfront offer no guaranteed income and no capital protection; and an investment in the shares in Stillfront is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the share issue to the sellers of Game Labs.
For the avoidance of doubt, the target market assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in Stillfront.
Each distributor is responsible for undertaking its own target market assessment in respect of the shares in Stillfront and determining appropriate distribution channels.
For additional information, please contact:
Jörgen Larsson, CEO, Stillfront Group
Phone: +46 70 321 18 00
E-mail: jorgen@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,250+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and France. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq First North Premier Growth Market. For further information, please visit: stillfront.com
Ahead of Stillfront Group’s Annual General Meeting on 11 May 2021, Stillfront will carry out a webcast with the chairman of the board of directors, the CEO and the external auditor on 4 May 2021 at 16:00 CEST.
In the webcast, the chairman of the board and the CEO will, among other things, give their views on the past year and provide answers to questions received from shareholders.
To participate via webcast, please visit:
https://tv.streamfabriken.com/stillfront-q-and-a-agm-2021
To participate via phone, please call:
SE: +46856642695
UK: +443333009264
US: +18332498407
Stillfront Group’s Annual General Meeting 2021
The Annual General Meeting of Stillfront Group AB (publ) will be held on 11 May 2021 in Stockholm. In order to prevent the spread of the virus causing covid-19, the board of directors has decided that the annual general meeting will be held without the physical presence of shareholders, proxies or external parties and that the shareholders shall have the opportunity to exercise their voting rights only by postal voting prior to the annual general meeting. For more information on Stillfront Group’s Annual General Meeting 2021, please visit: https://www.stillfront.com/en/arsstamma-agm-2021/.
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,000+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and France. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq First North Premier Growth Market. For further information, please visit: stillfront.com
Stillfront Group announces its interim results for January-March 2021 on 5 May 2021 at 7:00 a.m. CEST. The report will be presented in a live webcast at 10:00 a.m. CEST the same day.
Jörgen Larsson, President & CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast, please visit:
https://tv.streamfabriken.com/stillfront-q1-2021
To participate via phone, please call:
SE: +46 8 505 583 59
UK: +44 33 330 090 35
US: +1 83 382 305 86
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,000+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and France. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq First North Premier Growth Market. For further information, please visit: stillfront.com
Stillfront Group today announced that Andrew N. Green will join Stillfront as Senior Vice President Operations & Growth and member of Stillfront’s Group business management. Andrew joins Stillfront from venture capital firm Andreessen Horowitz (a16z) where he was a Partner focused on helping build the games initiative at the firm and supporting the consumer portfolio.
Andrew has almost 20 years’ experience leading teams and driving growth in different roles across the gaming industry. Previous experience includes his role as Head of Business Operations at TinyCo, a San Francisco-based mobile games studio which was acquired by Jam City in 2016. Andrew has also held different product and marketing roles at Electronic Arts, Atari, Miramax Films and Take-Two Interactive, and in 2018 he co-founded instant play gaming start-up Knock Knock.
“It is with great pleasure I welcome Andrew to the Stillfront team as SVP Operations & Growth. Andrew has extensive experience from across the gaming sector and will play a key role in supporting our studios with growth initiatives and further strengthening Stillfront’s business management operations. Stillfront’s ability to attract top international talent is a key component in our growth strategy and the recruitment of Andrew is a perfect example of our ability to do just that”, says Alexis Bonte, Group COO, Stillfront.
In his role at Stillfront Group, Andrew will be responsible for the support and governance of certain designated studios within the group. Andrew will also be responsible for finding areas for additional collaboration projects between studios to continue to drive growth and synergies across the group.
“I am very excited to be joining Stillfront Group in this new role. Stillfront is comprised of incredible studios, and I find a lot of joy in working with studio teams and supporting their growth. There is so much amazing potential here and on the horizon as games continue to become central to everyone’s entertainment experience globally”, says Andrew N. Green.
Andrew will assume his position on March 8, 2021.
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,000+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and France. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq First North Premier Growth Market. For further information, please visit: stillfront.com
NOT FOR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, WITHIN OR TO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, SWITZERLAND, SOUTH AFRICA OR NEW ZEALAND OR ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL
Stillfront Group AB (publ) (“Stillfront”) has completed the acquisition of the initial tranche of the shares in Moonfrog Labs Private Limited (“Moonfrog”), representing 91% of the shares in Moonfrog. The acquisition of 100% of the shares in Moonfrog based on four tranches, was announced through a press release on 1 February 2021 and the sellers are Moonfrog’s joint founders and institutional investors.
The consideration for the initial tranche, which has been paid in cash to the sellers of Moonfrog on the date hereof, amounted to approx. USD 90 million, on a cash and debt free basis. The consideration for the initial tranche has been financed by cash at hand and available credit facilities.
The remaining 9% of the shares in Moonfrog are to be acquired through up to three additional tranches. The second tranche consideration shall be an amount equal to 1.00x EBITDA for the period 1 January – 31 December 2021, payable in cash upon closing of the second tranche which is expected to occur in 2022. The third tranche consideration shall be an amount equal to 1.00x EBITDA if EBITDA is up to USD 20 million, and 1.25x EBITDA if EBITDA exceeds USD 20 million for the period 1 January – 31 December 2022, payable in cash upon closing of the third tranche which is expected to occur in 2023. The fourth tranche consideration shall be an amount equal to 0.50x EBITDA for the period 1 January – 31 December 2023, payable in cash upon closing of the fourth tranche which is expected to occur in 2024.
Due to that Stillfront will acquire the remaining 9% of the shares in up to three additional tranches, Stillfront and the sellers of Moonfrog have entered into a shareholders’ agreement that come into effect as of today. The shareholders’ agreement has been entered into in order to regulate the internal relationship between Stillfront and the sellers with respect to ownership of shares in and governance of Moonfrog. The shareholders’ agreement will be terminated when Stillfront is the owner of 100% of the shares in Moonfrog.
Moonfrog will be consolidated into Stillfront’s consolidated financial reporting from 1 March 2021.
Important information
This announcement is not and does not form a part of any offer for sale of securities. Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Hong Kong, Japan, Canada, Switzerland, South Africa or New Zealand or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.
This announcement is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States or any other jurisdiction. Any securities that may be issued in connection with the transactions referred to in this announcement will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly will not be offered or sold in the United States.
This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 (together with any applicable implementing measures in any Member State).
This press release may contain certain forward-looking statements that reflect Stillfront’s current views or expectations of future events and financial and operational performance, including statements relating to the transaction and statements regarding guidance, planning, prospects and strategies. Words such as “intends”, “anticipates”, “expects”, “plans”, “estimates”, “may”, and similar expressions regarding indications or predictions of future developments or trends that are not based on historical facts, constitute forward-looking information. Although Stillfront believes that these statements are based upon reasonable assumptions and expectations, Stillfront cannot give any assurances that any such forward-looking statements will materialize. Because these forward-looking statements involve both known and unknown risks and uncertainties, actual results may differ materially from the information set forth in the forward-looking information. Forward-looking statements in this press release apply only at the time of the press release and are subject to change without notice. Stillfront undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise, other than as required by applicable law or stock market regulations.
For additional information, please contact:
Jörgen Larsson, CEO, Stillfront Group
Phone: +46 70 321 18 00
E-mail: jorgen@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 1,000+ co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, UK and France. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq First North Premier Growth Market. For further information, please visit: stillfront.com
Stillfront Group announces its interim results for October-December 2020 on 17 February 2021 at 7:00 a.m. CET. The report will be presented in a live webcast at 10:00 a.m. CET the same day.
Jörgen Larsson, President & CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast, please visit:
https://tv.streamfabriken.com/stillfront-q4-2020
To participate via phone, please call:
SE: +46 8 519 993 83
UK: +44 333 300 92 73
US: +1 833 249 8407
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 approx. 1,000 co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, France and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq First North Premier Growth Market. For further information, please visit: stillfront.com
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, WITHIN OR TO THE UNITED STATES, THE UNITED KINGDOM, AUSTRALIA, HONG KONG, JAPAN, CANADA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, NEW ZEALAND OR ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES
Stillfront Group AB (publ) (“Stillfront”) has completed the acquisition of 100 percent of the shares in Super Free Games, Inc. (“Super Free”), which was announced through a press release on 18 December 2020. The sellers are the joint founders and main owners of Super Free as well as certain key employees and other investors.
The total upfront purchase consideration, which has been paid to the sellers of Super Free on the date hereof, amounted to approx. USD 150 million, on a cash and debt free basis. Of the upfront purchase consideration, approximately USD 79 million was paid by set-off by transfer of 7,503,240 newly issued shares in Stillfront (the number of shares have been adjusted as a result of the share split of Stillfront’s shares resolved by the Extraordinary General Meeting on 17 December 2020, whereby each existing share was divided into ten shares (10:1) (the "Share Split")) through a directed share issue to the sellers of Super Free, and the remaining part of the upfront purchase consideration, equivalent of approximately USD 71 million, was paid in cash to the sellers.
The new share issue was resolved on the date hereof by the board of directors of Stillfront based on the mandate granted at the Extraordinary General Meeting held on 17 December 2020. The reason for the deviation from the shareholders’ pre-emption right is to allow that Stillfront will be able to fulfill its commitments made in connection with the acquisition of Super Free. The subscription price per share related to the upfront purchase consideration amounts to SEK 88.569 (determined through negotiations between Stillfront and the sellers and adjusted as a result of the Share Split) and corresponds to the volume weighted average price per share in Stillfront traded on Nasdaq First North Premier Growth Market during the ten trading days up to and including 16 December 2020 converted into a USD/SEK exchange rate of 8.4388 corresponding to the average exchange rate between SEK and USD of the Swedish Central Bank (Sw. Riksbanken) published at https://www.riksbank.se/en-gb/ during the same period. Through the new issue of the shares, the share capital of Stillfront will increase by SEK 525,226.8. The newly issued shares were subscribed and paid for by set-off by the sellers on the date hereof. The issued shares shall be entitled to dividend as from the first record day for dividend after such shares have been registered with the Swedish Companies Registration Office and in the share register kept by Euroclear Sweden AB. Through the new issue of the shares in connection with the completion of the transaction, the dilution for the current shareholders in Stillfront is 2.10 percent on a fully diluted basis (i.e. based on the total number of shares and votes registered in Stillfront after completion of the share issue in relation to the transaction).
In addition, the sellers may receive an earn-out purchase consideration which is a payment of 0-2x EBITDA for each of the financial years 2021, 2022 and 2023. The earn-out purchase consideration shall be satisfied as to approximately 47.5 percent of such sum in cash and, as to approximately 52.5 percent in the form of newly issued shares in Stillfront to the sellers. The subscription price for the issued shares related to the earn-out purchase consideration (if any) will be based upon the volume weighted average price of the shares in Stillfront traded on Nasdaq First North Premier Growth Market for a period of ten trading days up to and including the day before Stillfront's announcement of financial results for the applicable earn-out period.
All other conditions for closing have now been fulfilled. Super Free will be consolidated into Stillfront’s consolidated financial reporting from 1 February 2021.
IMPORTANT INFORMATION
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in such jurisdictions, in which this press release has been released, announced or distributed, should inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Stillfront in any jurisdiction, neither from Stillfront nor from someone else.
This press release does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the new shares. Any investment decision in connection with the share issue must be made on the basis of all publicly available information relating to Stillfront and Stillfront’s shares. Such information has not been independently verified by Stillfront. The information contained in this press release is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this press release or its accuracy or completeness.
This press release does not constitute a recommendation concerning any investor’s option with respect to the share issue. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this press release and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933 (the "Securities Act"), as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a Transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into, Australia, Canada, Japan, Hong Kong, New Zealand, Singapore, South Africa, Switzerland, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. Stillfront has not authorized any offer to the public of shares or rights in any member state of the EEA and no prospectus has been or will be prepared in connection with the share issue. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation.
In the United Kingdom, this press release and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, “qualified investors” who are (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.
Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the “MiFID II Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in Stillfront have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “Target Market Assessment”). Notwithstanding the Target Market Assessment, distributors should note that: the price of the shares in Stillfront may decline and investors could lose all or part of their investment; the shares in Stillfront offer no guaranteed income and no capital protection; and an investment in the shares in Stillfront is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the share issue to the sellers of Super Free.
For the avoidance of doubt, the target market assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in Stillfront.
Each distributor is responsible for undertaking its own target market assessment in respect of the shares in Stillfront and determining appropriate distribution channels.
For additional information, please contact:
Jörgen Larsson, CEO, Stillfront Group
Phone: +46 70 321 18 00
E-mail: jorgen@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 approx. 1,000 co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, France and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq First North Premier Growth Market. For further information, please visit: stillfront.com
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, WITHIN OR TO THE UNITED STATES, THE UNITED KINGDOM, AUSTRALIA, HONG KONG, JAPAN, CANADA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, NEW ZEALAND OR ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES
Stillfront Group AB (publ) (“Stillfront”) has completed the acquisition of 100 percent of the shares in Sandbox Interactive GmbH (“Sandbox”), which was announced through a press release on 18 December 2020. The sellers are the four co-founders of Sandbox.
The total upfront purchase consideration, which has been paid to the sellers of Sandbox on the date hereof, amounted to approx. EUR 130 million, on a cash and debt free basis. Of the upfront purchase consideration, approximately EUR 30 million, was paid by set-off by transfer of 3,374,030 newly issued shares in Stillfront (the number of shares have been adjusted as a result of the share split of Stillfront’s shares resolved by the Extraordinary General Meeting on 17 December 2020, whereby each existing share was divided into ten shares (10:1) (the "Share Split")) through a directed share issue to the four co-founders of Sandbox, and the remaining part of the upfront purchase consideration, equivalent of approximately EUR 100 million, was paid in cash to the sellers.
The new share issue was resolved on the date hereof by the board of directors of Stillfront based on the mandate granted at the Extraordinary General Meeting held on 17 December 2020. The reason for the deviation from the shareholders’ pre-emption right is to allow that Stillfront will be able to fulfill its commitments made in connection with the acquisition of Sandbox. The subscription price per share related to the upfront purchase consideration amounts to SEK 88.569 (determined through negotiations between Stillfront and the sellers and adjusted as a result of the Share Split) and corresponds to the volume weighted average price per share in Stillfront traded on Nasdaq First North Premier Growth Market during the ten trading days up to and including 16 December 2020 converted into a EUR/SEK exchange rate of 10,2383 corresponding to the average exchange rate between SEK and EUR of the Swedish Central Bank (Sw. Riksbanken) published at https://www.riksbank.se/en-gb/ during the same period. Through the new issue of the shares, the share capital of Stillfront will increase by SEK 236,182.10. The newly issued shares were subscribed and paid for by set-off by the sellers on the date hereof. The issued shares shall be entitled to dividend as from the first record day for dividend after such shares have been registered with the Swedish Companies Registration Office and in the share register kept by Euroclear Sweden AB. Through the new issue of the shares in connection with the completion of the transaction, the dilution for the current shareholders in Stillfront is 0.96 percent on a fully diluted basis (i.e. based on the total number of shares and votes registered in Stillfront after completion of the share issue in relation to the transaction).
In addition, the sellers may receive an earn-out purchase consideration which is a payment of 1x EBIT for each of the financial years 2021, 2022, 2023 and 2024. The earn-out purchase consideration shall be satisfied as to approximately 78 percent of such sum in cash and, as to approximately 22 percent in the form of new issued shares in Stillfront. The subscription price for the issued shares related to the earn-out purchase consideration (if any) will be based upon the volume weighted average price of the shares in Stillfront traded on Nasdaq First North Premier Growth Market for a period of ten trading days up to and including the day before Stillfront's announcement of financial results for the applicable earn-out period.
Sandbox will be consolidated into Stillfront’s consolidated financial reporting from 1 January 2021.
IMPORTANT INFORMATION
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in such jurisdictions, in which this press release has been released, announced or distributed, should inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Stillfront in any jurisdiction, neither from Stillfront nor from someone else.
This press release does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the new shares. Any investment decision in connection with the share issue must be made on the basis of all publicly available information relating to Stillfront and Stillfront’s shares. Such information has not been independently verified by Stillfront. The information contained in this press release is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this press release or its accuracy or completeness.
This press release does not constitute a recommendation concerning any investor’s option with respect to the share issue. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this press release and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933 (the "Securities Act"), as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a Transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into, Australia, Canada, Japan, Hong Kong, New Zealand, Singapore, South Africa, Switzerland, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. Stillfront has not authorized any offer to the public of shares or rights in any member state of the EEA and no prospectus has been or will be prepared in connection with the share issue. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation.
In the United Kingdom, this press release and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, “qualified investors” who are (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.
Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the “MiFID II Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in Stillfront have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “Target Market Assessment”). Notwithstanding the Target Market Assessment, distributors should note that: the price of the shares in Stillfront may decline and investors could lose all or part of their investment; the shares in Stillfront offer no guaranteed income and no capital protection; and an investment in the shares in Stillfront is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the share issue to the sellers of Sandbox.
For the avoidance of doubt, the target market assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in Stillfront.
Each distributor is responsible for undertaking its own target market assessment in respect of the shares in Stillfront and determining appropriate distribution channels.
For additional information, please contact:
Jörgen Larsson, CEO, Stillfront Group
Phone: +46 70 321 18 00
E-mail: jorgen@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 approx. 1,000 co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, France and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq First North Premier Growth Market. For further information, please visit: stillfront.com
In accordance with the resolution of the Annual General Meeting, the three largest shareholders in the company as per the last business day of September, 2020 shall be entitled to appoint one member each to the Nomination Committee. If any of the three largest shareholders declines to appoint a member of the nomination committee, the next largest shareholder shall be offered the opportunity to appoint a member of the nomination committee. The nomination committee may also decide that the chairman of the board of directors shall be a member of the nomination committee.
The Nomination Committee of Stillfront Group AB (publ) ahead of the 2021 Annual General Meeting consists of the following members:
Dr Kai Wawrzinek, appointed by Laureus Capital
Caroline Sjösten, appointed by Swedbank Robur Fonder
Jonas Linnell, appointed by SEB Fonder
Jan Samuelson, Chairman of the Board of Directors of Stillfront Group
Shareholders having appointed members to the Nomination Committee represent approximately 29.7 percent of the voting rights for all shares of Stillfront Group.
A shareholder who wishes to submit a proposal to the Nomination Committee shall do this by a written request to:
Stillfront Group AB (publ)
Att. Nomination Committee
Sveavägen 9, 5 tr
SE-111 57 Stockholm
or via email: valberedning@stillfront.com
Proposals have to be received no later than 1 February, 2021, to be considered by the Nomination Committee. The 2021 AGM will be held in Stockholm, Sweden on 11 May, 2021.
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 approx. 1,000 co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, France and Canada. We are headquartered in Stockholm, Sweden, and the company is listed on Nasdaq First North Premier Growth Market. For further information, please visit: stillfront.com
Stillfront Group announces its interim results for July – September 2020 on 11 November 2020 at 7:00 a.m. CET. The report will be presented in a live webcast at 10:00 a.m. CET the same day.
Jörgen Larsson, President & CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast, please visit:
https://tv.streamfabriken.com/stillfront-q3-2020
To participate via phone, please call:
SE: +46 8 566 426 92
UK: +44 333 300 90 34
US: +1 833 249 840 3
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 approx. 1,000 co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, France and Canada. We are headquartered in Stockholm, Sweden, and the company, is listed on Nasdaq First North Premier Growth Market. For further information, please visit: stillfront.com
Press release
2020-08-31
The management will present an overview of the business and growth strategy, the strategic priorities with a focus on sustainability and a deep dive into the two studios Storm8 and Candywriter. President and CEO Jörgen Larsson and Group COO Alexis Bonte will present as well as Perry Tam, CEO & Co-founder Storm8, and Nadir Khan, CEO & Co-Founder Candywriter.
The webcast will start at 15:00 CEST and is estimated to end at 17:00 CEST. The event will be webcasted live and will also be available for viewing after the event.
Questions can be asked in writing during the webcast.
Link to webcast: https://tv.streamfabriken.com/stillfront-capital-market-update-2020
For additional information, please contact:
Sofia Wretman, Head of IR & Communication, Stillfront Group
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 +800 co-workers thrive in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, France and Canada. We are headquartered in Stockholm, Sweden, and the company, is listed on Nasdaq First North Premier Growth Market. For further information, please visit: stillfront.com
Certified Adviser: FNCA, Phone: +46 8 528 00 399 E-mail: info@fnca.se
2020-07-29
Stillfront Group announces its interim results for April-June 2020 on 12 August 2020 at 7:00 a.m. CEST. The report will be presented in a live webcast at 10:00 a.m. CEST the same day.
Jörgen Larsson, President & CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
https://tv.streamfabriken.com/stillfront-q2-2020
SE: +46 8 505 583 73
UK: +44 33 330 090 34
US: +1 83 352 683 47
Press release
2020-06-22
The annual general meeting in Stillfront Group AB (publ) held on 14 May 2020 resolved to issue not more than 350,000 warrants of series 2020/2024. Each warrant entitles the holder to subscribe for one (1) new share in the company on the last banking day in any month that falls during the period 1 June 2023 to 31 May 2024 at a subscription price of SEK 785.49, which is equal to the average volume weighted share price for the company’s share on Nasdaq First North Premier Growth Market during the period from and including 29 April 2020 until and including 13 May 2020, adjusted upwards with 8 percent annual interest. The company’s subsidiary, Todavia AB, has subscribed for 350,000 of the issued warrants of which 277,000 subsequently have been transferred on market terms to certain key personnel of the Stillfront Group.
For additional information, please contact:
Jörgen Larsson, CEO, Stillfront Group
Phone: +46 70 321 18 00
E-mail: jorgen@stillfront.com
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 +750 co-workers thrive in an organization 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 Growth Market. For further information, please visit: stillfront.com
Certified Adviser: FNCA, Phone: +46 8 528 00 399 E-mail: info@fnca.se
Kixeye and Babil Games today announce the release of the Arab version of Kixeye´s popular mobile game War Commander: Rogue Assault called “Asefat Al-Harb” translated to War Storm in English, published in collaboration with Babil Games and Goodgame Studios.
Available worldwide, War Storm, uses the existing Rogue Assault universe to offer Arabic-speaking players the chance to join in their own language. This achievement is part of a strategic mandate to cultivate excellence in gaming by sharing strengths among Stillfront Group’s portfolio of game studios.
War Storm players will compete in the same real-time combat strategy universe as existing Rogue Assault players from around the world. Arabic players will enjoy a localized experience including dedicated customer support, social channels and alliances.
“I am very pleased with the collaborative work between the three partner studios, including significant direction from leading MENA publisher Babil Games. The project leans heavily on the mobile marketing experience of Goodgame Studios who is already responsible for performance marketing of Kixeye´s and Babil Game´s other titles”, says Jörgen Larsson, CEO, Stillfront Group.
“We all bring unique experience to the table—Kixeye as a skilled game developer, Babil Games as a leading MENA publisher, and Goodgame Studios as a marketing powerhouse. War Storm is one of many planned collaborations, and we are looking forward to building on our Stillfront partnerships to set a new standard for quality and engagement in the gaming industry”, says Tyler Black, Chief Strategy Officer for Kixeye.
“We are thrilled to work alongside a passionate, experienced crew such as Kixeye to bring another quality title to the Arab gamer in an ever-growing MENA market and to the Arabic language audience worldwide. We are confident that Asefat Al-Harb will resonate with strategy gamers looking for a fun, immersive experience”, says AJ Fahmi, COO, Babil Games.
War Storm is available worldwide on Apple iTunes and Google Play.
Jörgen Larsson, CEO, Stillfront Group
Phone: +46 70 321 18 00
E-mail: jorgen@stillfront.com
About Stillfront
Stillfront is a free-to-play powerhouse of gaming studios. 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 +750 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 Growth Market. For further information, please visit: stillfront.com
Certified Adviser:
FNCA, Phone: +46 8 528 00 399 E-mail: info@fnca.se
Stillfront today announced that Armin Busen will join Stillfront as Senior Vice President Business Operations and member of the Group´s business management team. Armin is currently Chief Product Officer, CPO of InnoGames and has 15 years background in the online and media business.
Armin has extensive experience in corporate and high growth companies and has held various executive positions. As CPO with InnoGames, Armin has been managing the gaming studios including portfolio development and platform strategy and he has a proven record of establishing organizational structures for efficient product development. Previous positions include the role as CFO with InnoGames as well as business finance and development with ProSiebenSat.1
”I am excited that Armin will join the team as SVP Business Operations. We are in an exciting growth phase with focus on delivering on our 3x vision. Armin´s vast experience from the industry and his deep organizational skills will be a great support in maximizing the value of our unique platform and supporting us in building a leading free-to-play powerhouse”, says Jörgen Larsson, CEO, Stillfront Group.
The role as Senior Vice President Business Operations include the responsibility to manage and support a number of the Stillfront studios, as well as business development.
“Stillfront has an exciting portfolio of gaming studios and long lifecycle games. Paired with a great vision for future growth. It is a great pleasure to join the Stillfront team and an exciting challenge to support the continued growth story.”, says Armin Busen.
Armin Busen will assume his position on June 1, 2020.
About Stillfront
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 750 co-workers thrive in an organization, 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 Growth Market. For further information, please visit: stillfront.com
Certified Adviser:
FNCA, Phone: +46 8 528 00 399 E-mail: info@fnca.se
Stillfront Group AB (publ) today published its Annual & Sustainability Report for the fiscal year 2019 on its website www.stillfront.com.
If you would like to order a copy of the report, please send an e-mail with your name and address to ir@stillfront.com.
For further information, visit www.stillfront.com or contact:
Sofia Wretman, Head of IR & Communications
Phone +46 (0)70 811 64 30
Email ir@stillfront.com
Stillfront is a leading free-to-play powerhouse of gaming studios. 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 750 co-workers thrive in an organization, 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 Growth Market. For further information, please visit: stillfront.com
Certified Adviser:
FNCA, Phone: +46 8 528 00 399 E-mail: info@fnca.se
In 2019, Stillfront Group’s Annual General Meeting adopted an instruction regarding the appointment of the nomination committee. Pursuant to this instruction, the nomination committee shall be composed of representatives of the three largest shareholders listed in the shareholders’ register maintained by Euroclear Sweden as of 30 September 2019. The nomination committee may also decide that the chairman of the board of directors shall be a member of the nomination committee. A representative of a shareholder shall be appointed chairman of the nomination committee. Neither the chairman of the board of directors nor another director of the board shall serve as chairman of the nomination committee.
The nomination committee has now been appointed and comprises the following members:
Kai Wawrzinek – Laureus Capital
Niklas Johansson – Handelsbanken Fonder, Chairman of the Nomination Committee
Ossian Ekdahl – Första AP-fonden
Jan Samuelson, Chairman Stillfront Group
The nomination committee shall prepare proposals for the 2020 Annual General Meeting regarding appointment of chairman of the meeting, chairman of the board of directors and other directors of the board, remuneration to the chairman of the board of directors and the other directors of the board, appointment of auditor, remuneration to the auditor and principles for the appointment of nomination committee.
Shareholders who wish to present proposals to the Nomination Committee for the 2020 Annual General Meeting can submit them by post: Stillfront Group, att: Nomination Committee, Sveavägen 9, 5 tr, SE-111 57 Stockholm or via email: valberedning@stillfront.comIn order for the Nomination Committee to be able to consider submitted proposals in a constructive manner, these should be submitted no later than by 1 of February 2020.
28 October 2019
Stillfront Group AB (publ)
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 650 co-workers thrive in an organization, 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
Stillfront Group announces its interim results for July-September 2019 on 8 November 2019 at 7:00 a.m. CET. The report will be presented in a live webcast at 10:00 a.m. CET the same day.
Jörgen Larsson, President & CEO and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
https://tv.streamfabriken.com/stillfront-q3-2019
To participate via phone, please call:
SE: +46 8 566 427 06
UK: +44 33 330 092 73
US: +1 83 352 683 98
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 650 co-workers thrive in an organization, 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
Stillfront, a market leader in ‘free to play’ online strategy games, today announces that Phillip Knust has been appointed as Group Chief Product Officer and member of the Group´s executive management team. Phillip is currently CPO of Goodgame Studios and has extensive experience from the gaming industry.
Phillip Knust is a creative leader and product strategist who joined Goodgame Studios nine years ago as Product Manager and has since then led several production teams, releasing numerous product successes, the most popular being “Goodgame Empire”. Phillip Knust is the creator of the original game design of both “Goodgame Empire” and “Big Farm”.
”I am very pleased to welcome Phillip to the executive management team. We have shared exciting opportunities since Goodgame Studios joined Stillfront Group and Phillip has already contributed to the Group with his vast experience from the industry and his deep knowledge. Establishing this role on the Group level is an important step to further accelerate synergies and develop Stillfront”, says Jörgen Larsson, CEO, Stillfront Group.
“Shortly after Goodgame joined the Stillfront Group, I had the opportunity to participate in group-wide projects. It was great to see how much additional value we could generate by strengthening collaborations and formulating new strategies, and I look forward to intensify my work on these and other areas in the new role”, says Phillip Knust.
Phillip Knust was earlier this year appointed CPO of Goodgame Studios. He will now combine the two roles and assume his position for the Group from 1 September 2019.
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 650 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
Stillfront Group announces its interim results for April-June 2019 on 15 August 2019 at 7:00 a.m. CEST. The report will be presented in a live webcast at 10:00 a.m. CEST the same day.
Jörgen Larsson, President & CEO and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast, please visit:
https://tv.streamfabriken.com/stillfront-q2-2019
To participate via phone, please call:
Sweden: +46850558358
United Kingdom: +443333009030
United States: +18338230587
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
Stillfront Group AB (“Stillfront”) systematically works with improving the product portfolio to optimize performance and reward/risk. Among many things, Stillfront continuously monitors the number of active users of the online games on a monthly (MAU – Monthly Active User) and daily (DAU – Daily Active User) basis.
During the first quarter of 2019, the average number of MAUs was 5,874,000 (compared to 4,893,000 in the corresponding period 2018). The number of DAUs was 1,411,000 on average during the quarter (compared to 1,115,000 in the corresponding period 2018). Thus, during the first quarter of 2019, the number of MAUs increased by 20%, and the number of DAUs increased by 26%, compared with the first quarter of 2018.
During the fourth quarter of 2018, the average number of MAUs was 4,770,000 and the average number of DAUs was 1,140,000. Thus, the first quarter 2019 showed an increase of 23% regarding the number of MAUs and an increase of 24% regarding the number of DAUs as compared with the fourth quarter of 2018.
“We set new records for number of active users during Q1, the stickiness of the userbase increased and monetization during the quarter has continued to be strong. The launches of SIEGE: World War II and Strike of Nations are in line with our expectations, and Goodgame have been deeply involved in both launches with their marketing expertise. To see such cooperations succeed is very pleasing”, comments Jörgen Larsson, CEO, Stillfront Group.
In total, the above numbers pertain to the 29 largest online games as ranked by revenues, i.e. Call of War, Supremacy 1914, Conflict of Nations, ManagerZone, DragonRealms, GemStone IV, SIEGE: Titan Wars, SIEGE: World War II, Tank Storm, Admiral, Nida Harb 3, Strike of Nations, Age of Lords, World at War, War and Peace: Civil War, Vietnam War: Platoons, eRepublik.com, Online Fussball Manager, Goodgame Poker, Legends of Honor, Goodgame Empire, EMPIRE: Four Kingdoms, Big Farm, BIG FARM: Mobile Harvest, BIG COMPANY: Skytopia, EMPIRE: Millennium Wars (Mobile), EMPIRE: WWIII (Browser), Imperia Online and Shakes & Fidget.
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 person set out below, on April 5, 2019 at 10.00 CET.
Jörgen Larsson, CEO
Phone: +46 703 2118 00
jorgen@stillfront.com
Sofia Wretman, Head of IR & Communications
Phone: +46 708 116430
sofia@stillfront.com
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 eleven near-autonomous subsidiaries: 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, eRepublik in Ireland and Romania, Bytro Labs, OFM Studios, Goodgame Studios and Playa Games in Germany and Imperia Online, Bulgaria. Stillfront’s games are distributed globally. The main markets are Germany, the United States, France, UK and MENA. For further information, please visit www.stillfront.com.
Stillfront’s portfolio includes games across multiple platforms. Unravel and Unravel Two are widely acclaimed console games developed by Coldwood in collaboration with Electronic Arts. 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. Siege: Titan Wars (TM) is a popular mobile game developed by Simutronics. Nida Harb III and Admiral are mobile strategy games with very strong player bases, which are published by Babil Games. World at War: WW2 and War and Peace: Civil War are successful mobile strategy games developed and published by eRepublik Labs. Online Fussball Manager is a leading sports management game. Empire and Big Farm are major brands operated by Goodgame Studios. Imperia Online, is an MMO strategy game published on both browser and mobile platforms by Imperia Online.
FNCA, Phone: +46 8 528 00 399, E-mail: info@fnca.se
eRepublik Labs was established in 2007 and is an award- winning games studio and a pioneer in online free-to-play games. eRepublik Labs has an international team of 40 professionals with offices in Dublin, Bucharest and Madrid. eRepublik Labs latest hits are “World at War” and “War and Peace: Civil War”. Both are in the mobile strategy game category. Since inception, more than 20 million players worldwide have or are playing an eRepublik Labs game. Alexis is also a Venture Partner at Atomico, advising on new investments in France, Spain, Portugal and Eastern Europe.
”I am very pleased to welcome Alexis to our executive management team. Alexis has extensive experience within the industry both as a founder and developer of online strategy games as well as an investor. In 2018 we completed three acquisitions and Stillfront is today a global group of 11 studios with 500 professionals. Looking ahead, we strive to expand intra-group cooperation, increase the level of synergies as well as accelerate our growth agenda. Alexis deep know-how and industry expertise will be very valuable in further developing Stillfront”, says Jörgen Larsson, CEO, Stillfront Group.
“Since I decided to have eRepublik Labs join the Stillfront Group back in May of 2017, I have been able to experience first-hand how powerful the concept of an alliance of semi-autonomous studios that Jörgen and the team have put together is. I look forward to now help the Group scale that concept further and to support the growth acceleration of our existing studios”, says Alexis Bonte.
Before co-founding eRepublik, Alexis worked for lastminute.com for six years, first as Head of Business development in UK, Marketing and Sales director in France and then as MD for Italy. Alexis holds a BA Honours Degree in International Business and Languages from the European Business School, London.
Alexis will progressively assume his position starting in April of 2019 and transition to being fulltime Group COO in January 2020. During this transition period, Alexis will continue his position as CEO of eRepublik Labs until a successor is appointed.
Sofia Wretman, Director IR & Communications
Phone: +46 708 11 64 30
E-mail: sofia@stillfront.com
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 eleven 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, eRepublik in Ireland and Romania, OFM Studios in Germany, Goodgame Studios in Germany, Imperia Online, Bulgaria and Playa Games, Germany. Stillfront’s games are distributed globally. The main markets are Germany, the United States, France, UK and MENA. For further information, please visit www.stillfront.com.
Stillfront’s portfolio includes games across multiple platforms. Unravel and Unravel Two are widely acclaimed console games developed by Coldwood in collaboration with Electronic Arts. 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. Siege: Titan Wars(TM) is a popular mobile game developed by Simutronics. Nida Harb III and Admiral are mobile strategy games with very strong player bases, which are published by Babil Games. World at War: WW2 and War and Peace: Civil War are successful mobile strategy games developed and published by eRepublik Labs. Online Fussball Manager is a leading sports management game. EMPIRE and BIG FARM are major brands operated by Goodgame Studios. Imperia Online, is an MMO strategy game published on both browser and mobile platforms by Imperia Online.