Background and motive
As previously announced on
Summary of the transaction
- The buyer will take over Nordic Game Supply's business relationships with customers and suppliers of Nordic Game Supply.
- The buyer will take over the relevant trademarks and IP rights associated with Nordic Game Supply.
- The buyer takes over personnel from Nordic Game Supply.
- After completion of the Transaction, it is the intention that Nordic Game Supply will cease its operations as soon as possible.
Purchase price
- The purchase price payable by the Purchaser upon completion of the Transaction will be determined based on the book value of the inventory recorded as of the banking day prior to the date the transaction is completed ("Effective Time") adjusted for an effective discount of 28%. At the time of signing the Transaction, the book value of the registered inventory is 106 MSEK, which means a preliminary purchase price of 76 MSEK.
- In addition, the Buyer will pay 100% of the order value for orders that are in transit (ie, items not delivered to the specified storage facility at the time of the Effective Time).
Evaluation of the transaction
The Board of Directors of
Financial impact on
- The Transaction will have a positive impact on the Company's operating cash flows immediately following the completion of the Transaction.
- The transaction proceeds will result in reduced net debt for the Company.
- As the purchase price will be based on the book value of the inventory after an agreed discount, the Company assesses that the Transaction will have a negative impact on the Company's EBIT of approximately 34 MSEK for the second quarter of 2024.
Terms and Completion of the Transaction
- The transaction is subject to approval by the shareholders of
Thunderful Group at a general meeting which will be called separately from this press release. There are no other conditions for completing the Transaction. - Completion of the Transaction will take place as soon as possible after approval by the general meeting.
Advisor
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