Cherry AB (publ) (Cherry) – STO: CHER-B.ST – has completed the acquisition of 44 percent of the shares in Game Lounge Ltd, in accordance with a resolution by the 2018 Annual General Meeting. As part of the transaction, a directed new share issue of 1,554,017 class B shares in Cherry is carried out.
Cherry announced on 22 December 2017 that the Company resolved to acquire additional 44 percent of the shares in the leading affiliate company Game Lounge Ltd. The purchase consideration consists of a combination of cash and newly issued shares in Cherry. The cash portion amounted to EUR 9,825,631 (corresponding to SEK 94,646,375, based on the European Central Bank’s average reference rate for 2017) and was paid on 30 April 2018. The number of newly issued class B shares amounts to 1,554,017. The shares are payment for the remainder of the purchase consideration of EUR 9,825,631 and subscribed by the sellers of the shares in Game Lounge Ltd. Cherry holds a total of 95 percent of the shares in Game Lounge Ltd.
The total number of shares in Cherry amounts to 105,668,026 representing a total of 150,560,026 votes, divided into 4,988,000 class A shares and 100,680,026 class B shares. The total registered share capital in Cherry amounts to SEK 11,623,483. The Company holds none of its own shares.
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This information is information that Cherry AB (publ) is obliged to make public pursuant to the Nasdaq Stockholm Rulebook for Issuers. The information was submitted for publication, through the agency of the contact persons set out above on 14 June 2018, at 2:46 p.m. CET.
CHERRY IN BRIEF
Cherry is a innovative and fast-growing company within gaming, entertainment and media. Established in 1963, today Cherry operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The Group’s objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,400 people and has about 6,700 shareholders. The Company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se