DGAP-Adhoc
Media and Games Invest announces intention to carry out a directed share issue
DGAP-Ad-hoc: Media and Games Invest plc / Key word(s): Capital Increase NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE. |
Disclosure of inside information according to Article 17 MAR of the Regulation (EU) No 596/2014
Media and Games Invest announces intention to carry out a directed share issue
May 5, 2021 - Media and Games Invest plc (Frankfurt Stock Exchange: M8G), (Nasdaq First North Premier Growth Market: M8G) ("MGI" or the "Company") hereby announces its intention to carry out an issue of approximately 19 million new shares (approximately 15% of outstanding share capital) directed to institutional investors through an accelerated book-building procedure pursuant to the authorization granted by the extraordinary general meeting held on April 15, 2021 (the "Directed Share Issue"). MGI has engaged Carnegie, Jefferies, and Swedbank in cooperation with Kepler Cheuvreux to explore the conditions for the Directed Share Issue.
Following the successful acquisition and closing of KingsIsle, announced February 8, 2021, the Company seeks to continue its growth through acquiring further complimentary games and media companies or assets as well as investing into accelerated further organic growth. The Company has a large pipeline of potential acquisition targets within the complementary games and media segments, many of which are potential near-term candidates. Through the proceeds from the Directed Share Issue, the Company looks to strengthen its financial position in order to capitalise and be able to act fast on these acquisition opportunities.