Stillfront decides on the allocation of shares subscribed in the share issue to the sellers of eRepublik Labs. Limited
The annual general meeting of the Stillfront Group AB (publ), org. no. 556721-3078, («Stillfront» or the «Company») decided on 30 may 2018 on a directed issue of not more than 55 000 pieces of shares to the sellers (the»Sellers») of eRepublik Labs. Limited (the»eRepublik»), which shall constitute a part of the purchase price for the Company’s acquisition of all the shares in eRepublik 2017. The additional purchase price, payable partly in cash and partly in the form of shares in the Stillfront, has now been set at a total of EUR 1 478 247. The subscription of the shares has been completed and the board of directors of Stillfront has decided to allocate 40 821 subscribed shares to the Sellers. Payment for the shares has been paid by set-off of the Sellers ‘ claim corresponding to approximately SEK 7 346 310, which corresponds to the part of the agreed purchase consideration is payable in the form of shares in the Stillfront.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Sten Wranne, CFO
Tel: +46 705 851258
Stillfront is a group of independent developers, publishers, and distributors of digital game — with the vision to become the leading group of indie game developers and publishers. Stillfront is active through nine almost independent subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in Sweden and the united kingdom, Dorado Online Games in Malta, Simutronics in the united states, basra province Games in the UAE and Jordan, eRepublik Labs in Ireland and in Romania, O.F.M. Studios in Germany and Goodgame Studios in Germany. The group’s games are distributed globally, and has its main markets in Germany, USA, France, UK, and MENA. For more information, visit the Stillfronts website www.stillfront.com.
Stillfronts portfolio includes games for a variety of platforms. Unravel and Unravel Two is the re-written game which is developed by Coldwood, in cooperation with Electronic Arts. Supremacy 1914, the Call of War is krigsstrategispel developed by Bytro Labs. ManagerZone is a sportsmanagementspel which was launched in 2001. DragonRealms and GemStone IV are the so-called MUD-game with a very loyal player base. Siege: Titan Wars(TM) is a popular mobile game developed by Simutronics. Nida Harb III, and Admiral is mobilstrategispel with very strong spelarbaser, which is in the region of basra province Games. World at War, and War and Peace: Civil War is successful mobile strategy game from eRepublik Labs. Online Fussball Manager is a leading sportsmanagementspel. EMPIRE and BIG FARM are great brands, which is powered by Goodgame Studios.
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Source: Stillfront Group AB via Globenewswire