PRESS RELEASE February 3, 2017
Stillfront increases ownership in Simutronics
Stillfront today acquired additional 82,500 shares in Simutronics Corp, corresponding to 2.41% of all outstanding shares. The price per share was 1.02 USD in cash, totalling a consideration for all shares in the transaction to 84,150 USD.
Sellers are several minority shareholders in Simutronics.
After the transaction Stillfront Group holds in total 1,885,000 shares corresponding to 55.06% of all 3,423,600 outstanding shares.
Jörgen Larsson, CEO, Stillfront Group, comments
"We are very satisfied with our investment in Simutronics from June 2016. Existing products enjoy a profitable growth and the soft launch of Siege: Titan wars has so far progressed most satisfactory. Based upon that, we find it attractive to acquire more shares in Simutronics" Jörgen Larsson, CEO, Stillfront Group comments.
For additional information, please contact:
Jörgen Larsson, CEO at Stillfront Phone: +46 70 321 18 00 E-mail: jorgen@stillfront.com
Sten Wranne, CFO at Stillfront Phone: +46 705 851258 E-mail: sten@stillfront.com
About Stillfront 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 six 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 and Babil Games in UAE and Jordan. Stillfront's games are distributed globally. The main markets are Sweden, Germany, the United States and MENA. For further information, please visit www.stillfront.com .
Selected games 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. DragonRealms and GemStone IV are MUD-style games with a very loyal player base. Lara Croft Relic Run(TM) is a popular mobile game developed by Simutronics.
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This information is information that Stillfront Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15.45 CET on February 3, 2017.
