Valletta, Malta, 22 July 2019 - Media and Games Invest plc ("MGI", ISIN: MT0000580101; Symbol: M8G) has increased its interest in the gamigo AG by 13.8 % and now holds 52.6 % of the shares and 66.9 % of the voting rights in gamigo AG via its subsidiaries. The wholly owned subsidiary blockescence DLT solutions GmbH has acquired all gamigo shares held by Axel Springer Digital Ventures GmbH. With this assignment, all profit subscription rights attributable to the shares - both for profits from the current financial year and for outstanding profit distributions from previous years - will also be assigned to the MGI subsidiary. Both parties have agreed not to disclose the purchase price that was fully paid in cash. The supervisory board of gamigo must still give its consent to the transaction.
As stated earlier, MGI plans to further increase its interest in the fast-growing online game publisher gamigo AG. With the successful acquisition of the shares previously held by Axel Springer Digital Ventures GmbH, MGI has now been able to take over the shares from one of the larger existing gamigo shareholders. Negotiations with other shareholders have started. The expansion of the shareholding in gamigo will have a direct positive effect on MGI's financials.
Remco Westermann, Chairman of MGI, is pleased about the increase of the interest in gamigo: "The acquisitions of shares and the increase to over 50% strengthens MGI’s position within gamigo and creates substantial value for our shareholders. We will further focus on our ‘buy, integrate, build and improve’ strategy using the consolidation opportunities of the media and games segments, integrating the companies, and increasing their efficiency and USPs for further growth.”
About Media and Games Invest plc (former: blockescence plc):
Media and Games Invest plc, MGI, is a fast and profitably growing company focusing on a “buy, integrate, build & improve” strategy through organic growth and acquisitions in the media and games markets. Technology is actively used to create efficiency improvements and competitive advantages within the group. Synergy and integration potentials are important criteria for the expansion of the portfolio. The most important investments of MGI are gamigo AG, a fast-growing gaming and media company (52.6% of the shares and 66.9% of the voting rights), ReachHero GmbH (67% of the shares), a leading influencer SaaS platform, and Applift GmbH (100%), a leading media company specializing in mobile advertising. Media and Games Invest is listed on the Frankfurt Stock Exchange and XETRA.
This press release and the information contained herein are not for distribution in or into the United States of America (the "United States"), Canada, Australia, and Japan. This document does not constitute an offer to sell or a solicitation of an offer to buy any securities (the "Shares") of Media and Games Invest plc (the "Company") in the United States. The shares of the Company are not and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act or in a transaction not subject to the registration requirements of the Securities Act.
This press release contains possible forward-looking statements that are based on the current assumptions and forecasts of the company management of Media and Games plc or companies associated with it. Various known and unknown risks and uncertainties, as well as other factors, could mean that the actual results, financial circumstances, the development or performance of Media and Games plc and the companies associated with it may deviate significantly from the estimations presented here. Neither Media and Games plc nor the companies associated with it are obligated to update this sort of forward-looking statement or adjust them to future results or developments.
Axel Mühlhaus / Dr. Sönke Knop
Phone: +49 69 9055 05 51
Media and Games Invest plc
168 St. Christopher Street
Valletta VLT 1467