July 20, 2018
Stillfront resolves to allot the subscribed shares in the new issue shares to the sellers of eRepublik Labs. Limited
The general meeting in Stillfront Group AB (publ), reg. no. 556721-3078, (“Stillfront” or the “Company”) resolved on 30 May 2018 on a directed new share issue of not more than 55,000 shares to the sellers (“Sellers”) of eRepublik Labs. Limited (“eRepublik”), which shall constitute part of the earn-out consideration to be paid following the Company’s acquisition of all of the shares in eRepublik 2017. The earn-out consideration, which shall be paid partly in cash and partly in the form of shares in Stillfront, has now been determined to a total amount of EUR 1,478,247. Subscription for shares has been completed and the board of directors of Stillfront has resolved to allot 40,821 subscribed shares to the Sellers. Payment for the shares has been made by way of set-off of the Sellers’ claim corresponding to approximately SEK 7,346,310 which corresponds to the part of the agreed earn-out consideration to be paid in the form of shares in Stillfront.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Sten Wranne, CFO
Phone: +46 705 851258
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 nine 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 and Goodgame Studios in 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 a 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.