Brief: Atari, Crypto Blockchain Industries To Terminate Relationships

Atari SA

31/03/2022 08:22

(Removes typo in headline)
    March 31 - ATARI SA  ATAR.PA :
    * ATARI ANNOUNCED ON WEDNESDAY THE TERMINATION OF ITS
RELATIONSHIPS WITH CRYPTO BLOCKCHAIN INDUSTRIES
    * AGREEMENT PROVIDES FOR THE IMMEDIATE TERMINATION OF THE
MULTIVERSE LICENSE FOR THE USE OF ATARI GROUP INTELLECTUAL
PROPERTY IN THE CBI METAVERSE ENTERED BETWEEN THEM ON JUNE 4,
2021 (THE "LICENSE")
    * CBI AND ATARI GROUP HAVE ALSO AGREED TO CANCEL A WARRANT
FOR 5%
OF THE EQUITY OF CBI THAT HAD BEEN ISSUED TO ATARI GROUP AS PART
OF THE LICENSE
    * TERMINATION WILL HAVE NO MATERIAL FINANCIAL IMPACT ON THE
ATARI
GROUP
    * CBI WILL TRANSFER 3,500,000 SHARES OF ATARI TO THE ATARI
GROUP
AND PAY A LUMP SUM OF $114,000 TO SETTLE VARIOUS CHARGES
    * BOTH ATARI AND CBI/CHESNAIS HAVE RESPECTIVELY AGREED NOT
TO OWN,
NOR ACQUIRE, ANY SECURITY ISSUED BY THE OTHER PARTY FOR A PERIOD
OF FIVE YEARS AS FROM MARCH 29 2022 
    * REGARDING THE SAY ON PAY WITH RESPECT TO THE VARIABLE
COMPENSATION OF CHESNAIS, HE WILL TRANSFER 15 MILLION ATARI
TOKENS THAT HE OWNS BACK TO ATARI GROUP
    * ATARI TO CONVENE A SHAREHOLDERS' GENERAL MEETING NO LATER
THAN
ON SEPT 30, 2022 TO PRESENT A RESOLUTION RELATING TO THE
APPROVAL OF THE FIXED, VARIABLE AND EXCEPTIONAL ELEMENTS FORMING
THE TOTAL COMPENSATION AND BENEFITS OF ANY KIND PAID OR GRANTED
TO CHESNAIS, FOR HIS POSITION AS CEO FOR THE FINANCIAL YEAR
ENDED MARCH 31, 2021, WITH SUPPORT OF WADE ROSEN

    
 Source text for Eikon:  ID:nGNE8MchPz 
 Further company coverage:  ATAR.PA   ALCBI.PA 
   


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