DGAP-News: Media and Games Invest plc / Key word(s): Strategic Company Decision
MGI plans to relocate the company's registered office to Luxembourg and announces new game-launches for the coming quarters
Media and Games Invest Group ("MGI" or the "Company", ISIN: MT0000580101; Ticker M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange) plans to relocate its domicile to Luxembourg. The Board of Directors is convinced that this is the logical next step to support further reputation and growth of MGI and has decided to initiate all necessary steps for the relocation. Due to the high complexity of relocating the registered office of a listed company, the Board is targeting a relocation as of January 1, 2022. The final decision on the relocation will be made by the shareholders in a shareholders meeting. The relocation is based on the request of several investors and also potential investors that have an issue with Malta, the current jurisdiction of the company. As such the board expects that a relocation will open MGI to broader investor groups, that are currently not allowed to invest in Maltese companies and also help the reputation of MGI in general. As a first step, the Board of Directors has decided to propose to the shareholders in a shareholder meeting to be convened at short notice to change the current legal form of a Public Limited Liability Company ("plc") into that of a Societas Europaea ("SE").
"Our experience with Malta is positive and we have seen many governance changes in Malta, however, many investors still have an issue with Malta. We even encountered potential investors that told us that they cannot invest into MGI as their statutes don't allow investments in Maltese companies. As we are a global company and also want to continue to grow internationally, we are not tied to Malta and can relocate. We selected Luxembourg being a very international accepted domicile, as well as having an excellent reputation on the capital market while also enabling us to keep most of our legal structures and governance in place." says Remco Westermann, CEO.
As announced in the ad-hoc it was also decided in line with the objective to further professionalize and profitably grow MGI to enable the creation of B-shares for future capital increases, which has together with the relocation been approved by the shareholders of MGI. Furthermore it was decided to launch an ESOP program, to ensure a stronger position of MGI in the labor market, for hiring and retaining key employees.
"We are looking forward to 2021 with a strong pipeline of substantial content updates for our games portfolio as well as additional launches of newly licensed games combined with executing further M&A growth. After an outstanding 2020 with exceptional growth, MGI started strong into 2021 and signed several new game licenses with further focus on mobile games. There are especially two mobile game launches that we are planning for the first half year of 2021 that we would like to emphasize." says Remco Westermann CEO.
"Golf Champions - Swing of Glory": MGI's gaming segment consolidated under the roof of gamigo has acquired the worldwide development and publishing rights of the mobile game "Golf Champions - Swing of Glory" from top Canadian developer Behavior Interactive (among others also the developer of Dead by Daylight). Golf Champions is a competitive, free-to-play mobile game in which players compete in leagues. Players unlock different golf characters and can improve their skills as they compete against each other. In the end, the best golfers will meet in the strongest league. The monetization is based on in-game item sales and in-game advertising, in close cooperation with MGI's Media Unit.
"Heroes of Twilight": gamigo has also acquired the worldwide licensing rights for the mobile game "Heroes of Twilight". The competitive and turn-based role-play game is characterized by a dynamic day and night change, which means that the characters and the game environment can change unexpectedly at any time. The free-to-play game is the sequel to the multiple award-winning Little Lords of Twilight and thus has a strong existing fanbase.
Jenny Rosberg, ROPA, IR contact Stockholm
Axel Mühlhaus / Dr. Sönke Knop, edictor, IR contact Frankfurt
About Media and Games Invest plc
Media and Games Invest plc (MGI), is a fast-growing and profitable company operating in the digital games sector with a strong supportive media unit and focus on North America & EMEA. The company combines organic growth with value-accretive acquisitions, delivering strong and sustainable earnings growth. Since 2014 the MGI Group has successfully acquired more than 30 companies and assets which are integrated onto our platform, exploiting efficiency-enhancing technologies such as the cloud. The Company's shares are listed on Nasdaq First North Premier Growth Market in Stockholm and the Scale segment of the Frankfurt Stock Exchange.
The Company's certified advisor on Nasdaq First North Premier Growth Market is FNCA Sweden AB; email@example.com, +46-8-528 00 399.
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11.01.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Media and Games Invest plc
St. Christopher Street 168
VLT 1467 Valletta
+356 21 22 7553
+356 21 22 7667
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange; FNSE
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