April 11, 2016
Stillfront reaches settlement with ScandCap
Stillfront Group AB (“Stillfront”) has entered into a settlement agreement with Scandcap AB (“ScandCap”). Stillfront and ScandCap entered into an agreement in 2012 concerning financial advisory in connection with Stillfront’s acquisition of Power Challenge Holding Limited, whereas up to 22,857 warrants with the right to subscribe for shares in Stillfront would be issued. The agreement is described in detail in the Company Description, available on www.stillfront.com. Furthermore, Stillfront and ScandCap entered into an agreement in 2014 regarding financial advisory related to acquisitions. This agreement is described in the Company Description. Under the agreement, ScanCap was entitled to a fee at the completion of Stillfront’s acquisition of Bytro Labs GmbH.
Stillfront and ScandCap have now reached a settlement regarding the two above agreements. The settlement means that a potential dilution of 22 857 shares is avoided. The settlement does not impact Stillfront’s net result.
For additional information, please contact:
Jörgen Larsson, CEO at Stillfront
Phone: +46 70 321 18 00
Sten Wranne, CFO at Stillfront
Phone: +46 70 585 12 58
Stillfront is an independent creator, publisher and distributor of digital games – with a vision to become one of Europe’s leading indie game creators and publishers. Stillfront operates through four near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in the UK and Sweden, and Dorado Online Games in Malta. Stillfront’s games are distributed globally, however main markets include Sweden, Germany, the United States and South America. For further information, please visit www.stillfront.com.
Stillfront’s portfolio includes games across multiple platforms. Unravel, developed by Coldwood in collaboration with Electronic Arts, won 20+ awards at E3 and gamescom and was released in February 2016. Supremacy 1914 and Call of War are high-immersion war strategy games developed by Bytro Labs. ManagerZone is a sports management strategy game launched in 2001. Gladiators Online is an action management strategy game, launched on Steam in Q4 2015.
Nasdaq First North Ticker Symbol: SF
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