Stillfront Group AB, Stillfront decides on the issue prior to the acquisition of eRepublik Labs


20 June 2017 Stillfront decides on the issue prior to the acquisition of eRepublik Labs

Stillfront Group AB (publ) (“Stillfront”) announces today that the board of directors, with the support of the authorization from the annual general meeting may 19, 2017, which was registered with the Swedish companies registration office on 24 may 2017, made a decision on the issue of a maximum of 441 233 new shares in the Stillfront. The decision taken against the background of the share transfer agreement as Stillfront entered into for acquisition of 100% of the shares in eRepublik Labs. Limited (the”eRepublik” or the “Company”), which previously published according to the press release on 30 may 2017. The right to subscribe for the shares will be added as aktieöverlåtelseavtalet and the issue has only the sellers of eRepublik, i.e. Alexis Bonte, Gergat Trading Limited (owned by Alain Bonte), funds managed by IDinvest Partners SA and a number of minority shareholders, collectively, “Sellers”. Payment for the newly issued shares shall be made by the Sellers and processes all of the shares in eRepublik to Stillfront as consideration other than in cash.

Completing the new implementation is dependent on the capital contributed in kind consisting of the shares in the Company is transferred to Stillfront in connection with the access, which is expected to take place on 27 June 2017. The acquisition is subject to no circumstance or event occurs or is discovered, which could reasonably have a material adverse effect on the Company and its subsidiaries or Stillfronts consolidated revenue (where a material adverse effect shall be deemed to exist where the Company and its subsidiaries or Stillfronts the consolidated revenue reduced by at least 25% compared with budget for Q1 2017) between the current for the conclusion of the contract and the date of access of the acquisition.

At the entry to the acquisition shall, according to the aktieöverlåtelseavtalet EUR 7 500 000 will be paid to the Sellers, of which EUR 4 050 000 is paid in cash and the remaining EUR 3 450 000 with 441 233 newly issued shares in the Stillfront which the board now decided. The number of shares to be issued has been determined based on the average price per share in the Stillfront on Nasdaq First North during the 30 calendar days preceding 29 may 2017 which amounted to the 75,72 $ and the average exchange rate during the same period, whereby 1 USD is equivalent 9,68$.

Through the rights issue increases the Stillfronts share capital by 308 863,10 $ 4 497 505,60 SEK Number of shares after the rights issue to be 6 425 008. The issue represents a dilution of approximately 6,87%.


Jörgen Larsson, CEO of Stillfront

Tel: +46 70 321 18 00


Sten Wranne, CFO, Stillfront

Tel: +46 70 585 12 58



Stillfront is an independent developer, publisher and distributor of digital games – with the vision to become a leading indie game developers and publishers. Stillfront is active through seven 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 as well as eRepublik Labs in Ireland and in Romania. The group’s games are distributed globally, and has its main markets in France, UK, Germany, USA and MENA. For more information, visit the Stillfronts website


Stillfronts portfolio includes games for a variety of platforms. Unravel, developed by Coldwood, in collaboration with Electronic Arts, were awarded at E3 and gamescom over 20 awards and was launched in February 2016. 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. Lara Croft Relic Run(TM) is a popular mobile game developed by Simutronics. Tank Storm and the Admiral are mobilstrategispel with very strong spelarbaser, which is in the region of basra province Games. World at War is a successful mobile strategy that is being developed and is in the region of eRepublik Labs.

The Nasdaq First North ticker symbol: SF

Certified Adviser: Avanza Bank, tel 08-4094 2120

This information is such information as the Stillfront Group AB (publ) is obliged to publish under the EU marknadsmissbruksförordning. The information was submitted, through the above contacts in the government, for publication on 20 June 2017, there 22.15 CEST.

Like this post? Please share to your friends:
Leave a Reply