Brief: Atari Group Adds New Major Shareholder

Atari SA

24/03/2020 08:40

March 24 (Reuters) - ATARI SA  ATAR.PA :
    * WADE J. ROSEN ACQUIRES 10.46% (9.59% ON A DILUTED BASIS)
OF THE
ATARI GROUP FROM KER VENTURES
    * WADE J. ROSEN WILL BECOME CHAIRMAN OF BOARD OF ATARI
GROUP,
FRÉDÉRIC CHESNAIS REMAINS AS CEO OF ATARI GROUP
    * ATARI STAYS FOCUSED ON ITS ONLINE AND MOBILE BUSINESSES,
ATARI
VCS PROGRESS REMAINS AS PREVIOUSLY INDICATED AND DEPENDENT ON
THE EVOLUTION OF THE CURRENT PANDEMIC
    * TRANSACTION WILL CLOSE WITH TRANSFER OF SECOND BLOCK
    * KV HAS ALSO GRANTED ROSEN AN OPTION ON A BLOCK OF TEN
MILLION
(10,000,000) ATARI SHARES, TO BE EXERCISED BETWEEN JULY 21, 2020
AND AUGUST 31, 2020
    * ROSEN HAS ALREADY ACQUIRED FROM KV INITIAL BLOCK OF
22,520,000
ATARI SHARES AT EUR 0,3737 PER SHARE, AND WILL ACQUIRE SECOND
BLOCK OF 5,480,000 ATARI SHARES NO LATER THAN MARCH 27, 2020, AT
SAME PRICE PER SHARE
    * ON CORONAVIRUS: CAN HAVE A TEMPORARY IMPACT ON
PROFITABILITY OF
CURRENT FINANCIAL YEAR
    * ATARI SHARES, TO BE EXERCISED BETWEEN JULY 21, 2020 AND
AUGUST
31, 2020 (EXTENDED IN EVENT OF A RESTRICTED PERIOD), AT THEN
PREVAILING WEIGHTED-AVERAGE STOCK PRICE OF ATARI SHARES, WITH A
MINIMUM OF EURO 0,20 PER SHARE AND A MAXIMUM OF EURO 0,50 PER
SHARE

Source text for Eikon:  ID:nGNE2CcRXL 
Further company coverage:  ATAR.PA 

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