November 18, 2004
Gameloft strengthens its financial structure and clears its debts
As announced at the unveiling of its Q3 sales figures on 28 October, Gameloft has converted into shares the shareholder loan of 3.9 million euros which had been provided by its founding members in 2003 and 2004.
This operation, which was approved at the Extraordinary General Meeting that was held on 16 November 2004, substantially strengthens Gameloft's financial structure, raising its shareholder equity from 2 million euros to 5.9 million euros and clearing its financial debt of 3.9 million euros. In accordance with the 10-in-20-days rule* the Board of Directors of Gameloft has set a price of 2.27 euros per share for this operation. This price also corresponds to the average price of the last 20 opening days. This operation has resulted in the creation of 1,718,058 new shares, equivalent to a dilution of 2.73%.
Through this capital increase, the founding shareholders renew their trust in the company and are giving it the means to continue its rapid and profitable growth over the coming years and to aim for a leading position in the wireless gaming industry in 2007, when this market will reach one billion potential customers.
The 2004 sales figures will be released on 28 January 2005.
* The average share price during a period of 10 consecutive days chosen among the 20 stock market opening days prior to the date on which the price is effectively set.
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