DGAP-Adhoc Correction of a release from 16/01/2021, 00:26 CET/CEST - Media and Games Invest entered into an agreement to acquire KingsIsle Entertainment Inc. for USD 126m plus earn-outs. In this context, Oaktree is subscribing for a EUR 25m share issue.

Nachrichtenquelle: EQS Group AG
16.01.2021, 15:03  |  155   |   |   

DGAP-Ad-hoc: Media and Games Invest plc / Key word(s): Takeover/Capital Increase
Correction of a release from 16/01/2021, 00:26 CET/CEST - Media and Games Invest entered into an agreement to acquire KingsIsle Entertainment Inc. for USD 126m plus earn-outs. In this context, Oaktree is subscribing for a EUR 25m share issue.

16-Jan-2021 / 15:03 CET/CEST
Correction of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Correction of a release from 16/01/2021, 00:26 CET/CESTMedia and Games Invest entered into an agreement to acquire KingsIsle Entertainment Inc. for USD 126m plus earn-outs. In this context, Oaktree is subscribing for a EUR 25m share issue.

January 16, 2021 - Media and Games Invest ("MGI" or the "Company", ISIN: MT0000580101; Ticker M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange), has yesterday at 23:45 CET entered into an agreement with the shareholders of KingsIsle Entertainment Inc. ("KingsIsle") to acquire 100 percent of the shares of KingsIsle (the "Transaction") for a fixed cash consideration of USD 126 million on a cash- and debt- free basis (the "Consideration") plus up to USD 84 million that may be paid to the sellers as earn-out payment (the "Earn-Out Consideration"), dependent on the level of future revenues. All consideration shall be paid in cash. KingsIsle, based in Austin, Texas, is a leading game developer and publisher of the Online PC Games Wizard101 and Pirates 101 which have very loyal communities. As part of the Transaction, MGI has resolved on a directed share issue of 11,676,241 new ordinary MGI shares at a price of EUR 2.14 which corresponds to a discount of 4% on the average closing share price on Xetra of the last twenty trading days. The share issue is directed to funds advised by Oaktree Capital Management and will generate proceeds of EUR 25 million.

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DGAP-Adhoc Correction of a release from 16/01/2021, 00:26 CET/CEST - Media and Games Invest entered into an agreement to acquire KingsIsle Entertainment Inc. for USD 126m plus earn-outs. In this context, Oaktree is subscribing for a EUR 25m share issue. DGAP-Ad-hoc: Media and Games Invest plc / Key word(s): Takeover/Capital Increase Correction of a release from 16/01/2021, 00:26 CET/CEST - Media and Games Invest entered into an agreement to acquire KingsIsle Entertainment Inc. for USD 126m plus …

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