STOCKHOLM, Dec. 21, 2018 /PRNewswire/ --
A Creditors' meeting took place today at the District Court
of Stockholm. The Court decided to
allow continued reconstruction up until 3
March 2019. The Court also appointed a Creditor Committee
related to Starbreeze AB (publ).
As previously announced, the reconstruction plan states that
Starbreeze will focus on its core business of internal game
development and publishing. The company has initiated a process to
find collaborations with external parties to secure that the
non-core operations develop in a positive way. At the creditors'
meeting, the largest external creditors supported
reconstruction.
The Creditor Committee consists of Martin Wigforss representing Nordea Bank AB and
Magdalena Berg, Baker & McKenzie
Advokatbyrå, representing Smilegate.
The company will initiate efforts to find partners to finance
the whole or parts of the Company's operations. Starbreeze assesses
that the operational changes will be concluded at the half-year
2019.
This information is information that Starbreeze AB is obliged
to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
the contact person set out above, at 15:20
CET on December 21,
2018.
About Starbreeze
Starbreeze is a global game company whose vision is to be a
leading provider in the entertainment industry by creating
world-class experiences. Starbreeze was founded in 1998 and has
since evolved into a well-established developer and publisher of PC
and console games and VR products aimed at the global market. With
studios in Stockholm, Paris, Los
Angeles, San Francisco,
Barcelona, Brussels, Bangalore and Dehradun. Starbreeze develops
high-quality entertainment products based on proprietary and
third-party rights, both in-house and in partnership with external
game developers. Operations are organized in three business areas:
Starbreeze Games for own game development, Publishing, and VR Tech
for technology development including the StarVR venture. Starbreeze
shares are listed on Nasdaq Stockholm under the tickers STAR A and
STAR B with the ISIN-codes SE0007158928 (A share) and SE0005992831
(B share). For more information, please
visit starbreeze.com
CONTACT:
For more information, please contact:
Pia Rosin, Interim Head of
Investor Relations, Starbreeze AB
Tel: +46-(0)-8-209 208, email: ir@starbreeze.com
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Decision on continued
reconstruction
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SOURCE Starbreeze AB