Brief: EG7 Sells Innova To Games Mobile ST

Enad Global 7 AB (publ)

23/09/2022 10:57

Sept 23 (Reuters) - Enad Global 7 AB (publ)  EG7.ST :
    * SELLS INNOVA FOR EUR 21 MILLION OF CASH CONSIDERATION TO
GAMES
MOBILE ST LTD
    * ENTERED INTO AN AGREEMENT WITH GAMES MOBILE IN SEPTEMBER,
2022,
FOR SALE OF COMPANY'S SUBSIDIARY, INNOVA INTELLECTUAL PROPERTIES
S.À R.L. ("INNOVA")
    * GUARANTEED PORTION OF TRANSACTION VALUE IS EUR 21 MILLION
    * THERE IS ALSO AN ADDITIONAL CONTINGENT CONSIDERATION OF UP
TO
EUR 13.5 MILLION IN EVENT GMST SELLS INNOVA WITHIN 5 YEARS OF
CLOSING AT CERTAIN VALUATION THRESHOLDS
    * FURTHERMORE, IF GMST SELLS INNOVA FOR MORE THAN EUR 100
MILLION
AFTER FIVE YEARS FROM CLOSING, EG7 WILL RECEIVE 20 PERCENT OF
PROCEEDS FROM SUCH TRANSACTION

Source text for Eikon:  ID:nWkr2Qr9ND 
Further company coverage:  EG7.ST 
 (Gdansk Newsroom)
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