2010-08-19 PRESS RELEASE
G5 Entertainment announces the closing of the transaction with the investment company Traction. In accordance with the investment agreement signed earlier in July 2011, G5 Entertainment AB has issued 580,426 new shares, and Traction purchased these shares from the company at the price of 21,5 Kr per share, for a total amount of 12,5 MKr. The total number of shares in G5 Entertainment AB is now 8,000,000. Traction therefore has acquired 7,26% of the outstanding shares in this transaction.
The management's latest earnings forecast for the period of January-December 2011 already takes into account the dilution due to the transaction and remains EPS 1.9 Kr, with revenue of 47 MKr revenue and 16.5 MKr operating result.
Traction is a stock-exchange-listed investment company with an equity of SEK 1,5 bn and ownership interests in listed and unlisted companies. Traction's role as owner is based on an active and long-term engagement, together with an entrepreneur or corporate management. Traction's operations are based on its own methodology for developing and refining the companies in which Traction is an owner. The method has evolved over Traction's more than 30-year history.
About G5 Entertainment AB
G5 Entertainment AB is a developer and publisher of high quality downloadable games for iPhone, iPad, Android, Mac, PC, and portable game consoles like Sony PSP and Nintendo DSi. G5 develops and publishes games that are family-friendly, easy to learn, and targeted at the widest audience of experienced and novice players. G5 owns a number of popular game franchises like Virtual City, Supermarket Mania, Stand O' Food, and Mahjongg Artifacts, and invests in creating new games and bringing established franchises to new gaming platforms.
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