Summary in English

Transcription

Summary in English
Illustration: Johan Svensson
Invitation to subscribe for shares in
Gaming Corps AB
(publ)
Summary - April 2015
SEK 7,25
Subscription price per share
SEK 16 mkr
Preference share issue
29 april
Closing date for subscription
KEY INFORMATION
This document is a summary of the requirements, terms and conditions for investing in Gaming
Corps AB (Swedish Corporate ID No. 556964-2969) by participating in a new share issue. The
contents do not include the full details necessary for an investor to take a sufficiently well-founded investment decision. Neither does this summary
constitute a prospectus pursuant to the Prospectus Directive (2003/71/EC).
To obtain complete information the recipient is referred to the information memorandum (IM), concerning the present share issue,
drawn up by the Company’s board. The IM is available to download, with application forms for subscription without preferential rights, at
www.gamingcorps.com and www.eminova.se.
Overview
Gaming Corps is a company with a skilled team who
have solid experience of the two sides of the sector,
i.e. gaming and gambling.
The Company will capitalise on the contacts it has made in the
sector, with the aim of rapidly establishing the next major games-oriented enterprise, based in Uppsala, Sweden. The first product will be Air, a game tie-in to the upcoming film from the creators
of the TV success The Walk-ing Dead.
Gaming Corps has an explicit focus on consistently working with
some of the world’s largest brands and intellectual property (IP)
rights, particularly in Hollywood. With well-known li-censed IP
rights, Gaming Corps has good prospects of creating revenue
streams both from gam-ing and (through cooperation with casino
platform suppliers and gambling operators) from gam-bling, based
on the same rights.
company will also develop and market mobile games in other genres to reduce business risk and build the largest possible user base.
Gaming Corps has good prospects of entering into additional agreements with major game pub-lishers and platform owners to engage in pre-financed commissions to develop games. The com-pany
sees this as an excellent way of reducing business risk, since commissions of this kind nor-mally provide a stable cash flow over 18–
24 months and simultaneously generate potential for attracting top
elite Swedish games developers as employers.
Successful social casino apps are commonly found among the bestsellers in app stores (Apple, Android) and, in many cases, have
millions of users. Although a player’s ‘lifetime value’ (LTV) averages
only a couple of dollars, the massive volume generates good income streams for suc-cessful titles. In some markets, casino players
who play for real money and make deposits may have an LTV of well
over USD 1,000.
Gaming Corps’s own game titles cater mainly for PC, console and
mobile platforms. Alongside social casino apps for app stores, the
Current projects
Gaming Corps is in partnership with Skybound, with
the ambition of creating games from sever-al of
their IP rights. Skybound, based in Los Angeles, is
best known as the creator of The Walking Dead.
Gambling
Mobile IPR
PC/
STEAM
AAA
AIR
Gaming Corps has licensed game rights to Skybound’s (The Walking
Dead etc.) upcoming major film AIR. This adventure game is currently being produced in Uppsala, entirely under Gaming Corps management. However, there is an opportunity for a co-publisher to buy
into the project along the way, for shared risk and upside. In pure
business terms, the game will be sold as epi-sodes. This is a concept
with which Skybound has previously achieved great successes jointly
with the Telltale games studio.
EEDAR, the renowned game research company, has drawn up a
sales forecast for the game that, in an intermediate sales scenario,
gives it some USD 13 million in sales revenues for the PC ver-sion
alone (with additional console income) for the first six episodes. These will be released monthly, starting in August 2015.
Riddick
Gaming Corps has publishing rights to the mobile game Riddick: The
Merc Files. This game, re-launched with improved graphics and playing experience in January 2015, is expected to be one of the launch
titles in the graphics card producer Nvidia’s range of gaming tablets
and its own app store. The actor Vin Diesel has done voice-overs and
the game is thought to be transferable, with only a small outlay, to
PCs for launch on Steam.
Casino games
Gaming Corps has begun work on the proof of concept for the title,
with shared IP rights, on so-cial casino apps (mobile platforms, the
Web and Facebook) and a real-money slot. Negotiations are under
way with casino platform suppliers for development, and inclusion
in their product range for casino operators, based on graphics and
IP rights provided by Gaming Corps. After the launch, Gaming Corps
will have revenue streams from three different sources: play money, real money and super affiliates.
Gaming Corps’s long-term strategy in PC and console games (and also mobile games) is to own and
publish the games in-house for optimal upside. Collaboration with Skybound is an important piece of
the puzzle of how to successfully build a profitable
portfolio of game titles over time.
The gaming markets
The global gaming market was worth some USD 70
billion in 2013 and is expected to grow to a value
of USD 86bn by 2016. Mobile platforms account for
the most rapid growth and are fore-cast to make up
roughly 28% of the market in 2016.
The global market for online gambling was worth an estimated
EUR 26bn in 2013 and is ex-pected to grow by around 10% a year
between now and 2016, when its value will thus be about EUR 35bn.
Casino games and especially slots (one-armed bandits) are well suited for playing on mobile platforms and are a growth segment of the
gambling market.
Källor: NewZoo, H2GC
Major shareholders
Dunham Sweden AB
(Nicklas Dunham & Jens Larsson)
Danica Pension Försäkrings AB
Rune F Löderup
Shares
Capital & votes (%)
1 320 000
24,2
600 000
11.0
438 000*
6,0
*of which 108 000 shares are subject to registration due to exercised stock options.
Fredrik Johansson
297 000
5,4
Eric Holmberg
255 000
4,7
Other shareholders
2 658 000
48,7
Total number of shares
5 460 000
100%
Members of the Company’s Board and also the Company’s major shareholders, holding 5% or
more of total outstanding shares before the upcoming share issue (Danica Pension Försäkrings
AB excepted), have given the Company an undertaking to restrict their own scope for divesting
shares during the 12 months from the first trading day. This restriction covers 90% of shareholdings concerned, which are listed in the table above..
Management
Nicklas Dunham // CEO
Nicklas Dunham is a Swedish computer games veteran whose previous experience includes be-ing sales manager and
CEO of Starbreeze AB; co-founding Stillfront AB; and working
on the softer sides of the Swedish gaming industry as a sector specialist for the games incubator pro-gramme run by
the Swedish Governmental Agency for Innovation Systems
(Vinnova). Over the years, Nicklas has acquired experience
of both the traditional gaming industry and game devel-opment for web and mobile interfaces.
Profit & Loss
(SEK)
Net revenue
as at 31 December 2014
22 933
Other revenue
1 593 191
Övriga externa kostnader
-3 200 505
Personnel costs
-1 789 732
Earnings Before Tax (EBT)
-3 906 758
Balance sheet
(SEK)
as at 31 December 2014
Assets
Fixed assets
1 062 133
Capitalised development costs
645 207
Cash and bank
601 993
TOTAL ASSETS
2 369 333
Shareholders’ equity and debt
Shareholders’ equity
1 793 242
Long term liabilities
126 396
Short term liabilities
449 695
Total shareholders’ equity and debt
2 369 333
Jens Larsson // Creative Director
Jens Larsson has a distinguished track record as a games
designer and producer in the gaming industry. He was a
co-founder of Starbreeze AB and Stillfront AB, and has taken
part in about ten computer game productions. Jens has also
run a pioneering web and media agency in the US that paved
the way for social and viral marketing back in 2004.
Per Finnström // COO
Per Finnström has extensive experience from both sides of
the gaming industry, first as a pro-grammer at Starbreeze
and second as a project manager at Ongame (which was
sold to Bwin). He has also worked as a consultant at Accenture and been development manager at Klarna.
The Board
Rune Löderup // Board Chair
Jonas Forsman // Board Vice Chair
Ralph Murphy // Board member
Johan Sundström // Board member
Lars Egnell // Board member
Nicklas Dunham // Board member
With a fully subscribed share issue, the Company will receive SEK 15,834,000 before issue and guarantee costs, by
Gaming Corps was formed in March 2014 and has raised
issuing 2,184,000 shares.
capital of some SEK 9.3 million ahead of the upcoming
The Company is valued, before the share issue, at
share issue.
SEK 39,585,000.
Foto: Angelica Klang
CEO’s review
Nicklas Dunham, CEO, is probably Sweden’s most
successful person in terms of both the number of
his commissions to develop video games and their
aggregate development budgets, for companies like
Starbreeze, Grin and Stillfront (10 titles with a total
value of some USD 80 million).
In a short time, Gaming Corps AB has generated stunning opportunities. We are in partnership with Skybound in the US and have
already embarked on the first joint development project for a game
tie-in entitled AIR. It is a tremendous thrill to have Robert Kirkman,
creator of The Walking Dead, involved in the process. The initial
launch of the game AIR is planned to take place via the STEAM distribution platform and reach app stores via mobile platforms. AIR will
also be a fea-ture film with Sony Pictures as its distributor, which will
facilitate marketing and sale of the game.
What is more, AIR is Gaming Corps’s first reference project in which a
licensed brand (IP right) also provides a bridge to the part of the gaming industry in which playing for money is the cen-tral element. AIR
will therefore also be launched as a slot (one-armed bandit) game
online, through a casino platform supplier who, in turn, delivers the
game to affiliated game operators. It feels wrong to describe this
future income stream as passive, but from a legal point of view it is
important to emphasise that this is so. Gaming Corps needs no gaming licences and will receive a percentage of the net gaming profits.
In the course of my career in the gaming industry, I have accumulated a large contact network. It used to be a matter of helping other
companies to capitalise on the contacts I made as an em-ployee or
hired consultant for Starbreeze, Stillfront or Grin, for example. (The
people behind Grin then started Overkill, and became the new principal owners of Starbreeze after acquiring Overkill: the industry is
gigantic, but sometimes feels like a small world.) With Gaming Corps
I am, if anything, even keener to be able to deliver, which is obviously
in line with creating share-holder value for all the shareholders in
Gaming Corps AB.
We welcome you as a shareholder in
Uppsala’s next major gaming company.
Nicklas Dunham - VD
[email protected]
+46 707 40 61 81
Contact info
Website: www.gamingcorps.com/ir-english
e-Mail: [email protected]
Non-preferential subscription
Application form for subscription of shares in Gaming Corps AB (publ)
Subscription period
Subscription price
Payment
April 9 - April 29, 2015, 3 pm.
SEK 7.25 per share.
Payment shall be made in accordance with the contract note.
I/We hereby apply for subscription of shares in Gaming Corps AB (publ) at SEK 7.25 per share:
1,000 shares (SEK 7,250)
2,000 shares (SEK 14,500)
3,000 shares (SEK 21,750)
4,000 shares (SEK 29,000)
5,000 shares (SEK 36,250)
6,000 shares (SEK 43,500)
Another amount
A copy of a valid identification must accompany the application form due to the fact that it relates to an amount in excess of EUR 15,000. If the application is for a legal entity, a registration certificate must also be provided, verifying the signatory.
Name/Company
National Insurance number (NINO)/Org.no.
Address
Postal code and Town
Custody account number
Bank/Trustee
Contact person at the bank
Contact information to the contact person (E-mail address and/or telephone number)
Telephone number
E-mail address
Place and date
Signature (if applicable, signatory or guardian)
By signing this application form, the following applies:
• I have read and understood all information issued in connection with this offer,
• I am aware that the application is binding,
• The allocation may be reduced or may not take place,
• My personal data will be processed in accordance with the Data Protection Act,
• I authorise Eminova Fondkommission AB, on my behalf, to carry into effect the purchase of the above shares.
The application form shall be sent to:
Mail
E-mail
Fax
Eminova Fondkommission AB
Barnhusgatan 16, 4 tr.
SE-111 23 Stockholm
Sweden
[email protected]
(scanned ducument)
+46 (0)8 684 211 29
Important information
This information is only available in Swedish / Denna information finns endast på svenska.
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