Brief: Tech Invest Group buys 12 pct of MagicVR.co for 0.3 mln zlotys

Erato Energy SA

21/11/2016 06:49

Nov 21 (Reuters) - Tech Invest Group SA (TIG)  TIGP.WA : 
    * Said on Sunday that it signed an invest agreement with 
MagicVR.co Sp. z o.o., shareholders of the company, its board 
members and a second investor 
    * MagicVR.co shareholders meeting decided to raise its share 
capital through issue of 25 shares at the issue price of 20,000 
zlotys ($4,780) per share  
    * TIG bought 15 shares for 300,000 zlotys (which represents 
12 pct stake in MagicVR.co; 10 shares were bought by the second 
investor 
    * MagicVR.co will allocate the money for development of 
games and applications in a virtual reality technology  
    * After MagicVR.co starts its operations and to generate 
revenue (by March 1, 2017), its shareholders to resolve another 
increase in share capital to grow the business 
    * TIG to buy 6 shares under the second capital increase for 
308,824 zloty and to hold 15.67 pct stake in MagicVR.co  
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM1870685 
     
 Further company coverage:  TIGP.WA   
    
 
 
 
($1 = 4.1837 zlotys) 
 
 (Gdynia Newsroom) 
 ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))