Allocation of 20,000,000 new shares in the Rights Issue has
today been approved by the Board of Directors. Gross
proceeds from the issue were NOK 30 million.
The subscription period in the Rights Issue in Hugo Games
ended at 16:00 (CEST) on 1 August 2016. At the end of the
subscription period, Hugo Games had received subscriptions
for a total of 35,604,408 new shares, corresponding to an
oversubscription of 78%.
"I am very pleased with the support and backing that we have
experienced throughout our emission" said Chairman Bertel
Maigaard and continued "I truly see this as a great support
towards the company's communicated strategy"
The Board of Directors of Hugo Games has approved the final
allocation of the shares subscribed in the Rights Issue
based on the allocation criteria set out in the Prospectus
dated 22 June 2016.
A total of approximately 12.3 million new shares have been
allocated to subscribers on the basis of exercised
subscription rights and approximately 7.7 million shares
have been allocated to holders of subscription rights as a
result of oversubscription. No shares have been allocated to
subscribers without subscription rights.
Letters giving notification of allocated new shares and the
corresponding subscription amount to be paid by each
subscriber will be distributed today.
Payment for the allocated shares falls due on Friday 5
August 2016.
The new shares may not be transferred or traded before they
are fully paid and the share capital increase pertaining to
the Rights Issue has been registered and the shares have
been issued. It is expected that the share capital increase
will be registered on or about 11 August 2016 and that the
new shares will be transferred to the VPS accounts of the
subscribers on 12 August 2016.
Norne Securities AS is manager and DELACOUR
Advokatpartnerselskab is legal advisory for the transaction.
About Hugo Games
Hugo Games is a Nordic mobile games publisher and developer
located in Copenhagen. At Hugo Games we are passionate about
games and we are committed to making titles that will engage
and bring genuine joy to people for years. We have a
consistent portfolio of games globally available across a
wide range of platforms including iOS, Android, Windows,
Amazon and Facebook.
More information available at www.hugogames.com.