Stillfront Group AB: Announcement from extraordinary general meeting Jan 9, 2018

Announcement from extraordinary general meeting in Stillfront Group AB (publ) 9 January 2018

Stillfront Group AB (publ) (“Stillfront” or “Company”) held an extraordinary general meeting on 9 January 2018 due to the previously announced acquisition of all the shares in Altigi GmbH (“Goodgame Studios”), which Stillfront entered into a share purchase agreement about on 6 December 2017. The meeting adopted mainly the following resolutions in accordance with the proposals presented by the board of directors and the nomination committee.

The general meeting resolved to approve the acquisition of Goodgame Studios in accordance with the share purchase agreement which the Company entered into on 6 December 2017.

The general meeting resolved to adopt new articles of association. The changes mainly concern the limits of the share capital and number of shares, in order to facilitate a new share issue.

The general meeting resolved on a new share issue against payment in the form of consideration in kind consisting of 60,232 shares in Goodgame Studios. The Company’s share capital shall increase by SEK 11,808,036.10 through an issue of 16,868,623 shares. The right to subscribe for the new shares shall only be offered to the sellers of Goodgame Studios. The subscription price shall be SEK 135.87. The basis for the determination of the subscription price is 95 per cent of the volume weighted average price per share in the Company on Nasdaq First North Premier during the five trading days up to and including 6 December 2017. Payment shall be made by way of contribution in kind of shares in Goodgame Studios. The in kind contribution is in accordance with applicable accounting principles expected to be reported in Stillfront’s balance sheet at a value of SEK 3,113,947,806. The new issued shares constitute approximately 72.4 per cent of the total number of shares and votes following the new share issue.

It was resolved that the board of directors shall be expanded with one director and elected Christian Wawrzinek as new board member for the time until the next annual general meeting has been held, provided that the acquisition of Goodgame Studios is completed. No remuneration due to the appointment as board member shall be paid to Christian Wawrzinek.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Jörgen Larsson, CEO
Phone: +46 703 211 800
jorgen@stillfront.com

Sten Wranne, CFO
Phone: +46 705 851 258
sten@stillfront.com

Nasdaq First North Ticker Symbol: SF
Certified Adviser: Avanza Bank, phone +46 8 409 421 20

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 above, at 10.30 CET on January 9, 2018.