Brief: Crypto Blockchain Industries to unwind Atari cross-shareholding deal and end license agreement

Atari SA

30/03/2022 17:36

March 30 (Reuters) - Atari Sa  ATAR.PA /CRYPTO BLOCKCHAIN
INDUSTRIES  ALCBI.PA :
    * REG-CBI: GLOBAL AGREEMENT WITH ATARI TO UNWIND
CROSS-SHAREHOLDINGS AND TERMINATE THE LICENSE AGREEMENT GRANTED
BY ATARI TO CBI
    * CBI: GLOBAL AGREEMENT WITH ATARI TO UNWIND
CROSS-SHAREHOLDINGS
AND TERMINATE LICENSE AGREEMENT GRANTED BY ATARI TO CBI
    * ATARI IS TRANSFERRING BACK TO CBI WARRANT ALLOWING ATARI
TO
ACQUIRE 5% OF CAPITAL OF CBI AT PAR VALUE (0.1 EURO PER SHARE).
    * CBI WILL PAY $110,000 AND WILL TRANSFER TO ATARI OWNERSHIP
OF
3.5 MILLION ATARI SHARES CURRENTLY HELD BY CBI.
    * ATARI AND CBI MUTUALLY PROHIBIT EACH OTHER FROM ACQUIRING
SECURITIES ISSUED BY OTHER ENTITY FOR A PERIOD OF 5 YEARS.
    * CBI WILL NOT PARTICIPATE IN ONGOING CAPITAL INCREASE OF
ATARI.
    * The license granted by Atari to CBI allowing the latter to
exploit certain Atari assets in the metaverse is terminated with
immediate effect; the Atari NFTs already sold by CBI will remain
in circulation.

Source text for Eikon:  ID:nGNE5wXwkD 
Further company coverage:  ATAR.PA 

 (Reporting by Sudip Kar-Gupta)
 ((sudip.kargupta@thomsonreuters.com;))