Brief: Stillfront Group Evaluates Closure Of Subsidiary In Bangladesh

Stillfront AB (publ)

03/11/2022 06:09

Nov 3 (Reuters) - Stillfront Group AB (publ)  SFRG.ST :
    * STILLFRONT GROUP EVALUATES POTENTIAL CLOSURE OF ITS
SUBSIDIARY’S
OPERATIONS IN BANGLADESH
    * FINANCIAL IMPACT OF A POTENTIAL DISCONTINUATION OF
OPERATIONS IN
BANGLADESH IS NON-MATERIAL FOR GROUP
    * FOR FIRST NINE MONTHS OF 2022, ULKA GAMES GENERATED
APPROXIMATELY 1 PERCENT OF STILLFRONT GROUP'S TOTAL NET REVENUES
AND 2 PERCENT OF GROUP'S TOTAL EBITDA.
    * MOONFROG LABS HAS SHOWN SOLID GROWTH SINCE BECOMING PART
OF
STILLFRONT AND A POTENTIAL DECISION TO CLOSE ITS OPERATIONS IN
BANGLADESH WOULD HAVE NO IMPACT ON MOONFROG LABS' BUSINESS
OUTSIDE OF BANGLADESH.
    * STILLFRONT'S SUBSIDIARY IN INDIA, MOONFROG LABS, WHICH WAS
ACQUIRED IN FEBRUARY 2021, HAS BUSINESS OPERATIONS IN BANGLADESH
THROUGH A COMPANY CALLED ULKA GAMES

Source text for Eikon:  ID:nMFN3QKV63 
Further company coverage:  SFRG.ST 
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