Brief: Eg7 Says Plans To Reinvest Marvel Development Resources Across Multiple Long-Term Projects

Enad Global 7 AB (publ)

25/05/2022 04:58

May 24 (Reuters) - Enad Global 7 AB (publ)  EG7.ST :
    * EG7 PLANS TO REINVEST MARVEL DEVELOPMENT RESOURCES ACROSS
MULTIPLE LONG-TERM PROJECTS
    * EG7 HAD PLANNED TO INVEST MORE THAN SEK 500 MILLION IN
MARVEL
PROJECT OVER NEXT THREE YEARS
    * EXPECTED WRITE DOWN IS PROXIMATELY SEK 230 MILLION IN
PROJECT
RELATED ASSETS IN Q2 2022.
    * EG7 TODAY ANNOUNCED IT WILL BE DISCONTINUING DEVELOPMENT
OF
MARVEL PROJECT AT DAYBREAK GAMES
    * ENAD GLOBAL 7- CHANGES WILL NOT IMPACT NEAR TO MEDIUM TERM
REVENUES, PROFITS OTHER THAN BALANCE SHEET AND P&L IMPACT
RELATED TO WRITE-DOWN

Source text for Eikon:  ID:nWkr94bltM 
Further company coverage:  EG7.ST 

 ((Reuters.Briefs@thomsonreuters.com;))