Zattikka PLC Update (8598J)
July 22 2013 - 9:42AM
UK Regulatory
TIDMZATT
RNS Number : 8598J
Zattikka PLC
22 July 2013
For immediate release 22 July 2013
ZATTIKKA PLC
('Zattikka' or the 'Company')
Update
Zattikka, the online games entertainment group, makes the
following market update.
In its trading update released on 9 July 2013, the Company
advised that certain loan note interest, in an amount of GBP0.275m
(the "Interest Payment"), was at that time due to be paid. The
Company has not yet made the payment and, as a result, has received
a demand from the Hattrick loan note holders for payment of such
amount by close of business on 2 August 2013 (the "Expiry Date").
In the event that the payment is not made by the Expiry Date, and
without an agreement from the Hattrick loan note holders not to
enforce their rights, the principal amount under the Hattrick loan
notes (an amount of EUR6.4m) would become repayable in full within
2 business days of the Expiry Date. The directors of the Company
have received advice that the Company should not make the Interest
Payment at this time, as this may, should the Company enter into
administration, constitute a preference under the Insolvency Act
1986.
Further, and again as announced on 9 July 2013, the Group has
entered into negotiations with its loan note holders with a view to
extinguishing a substantial proportion of the Group's liabilities.
These negotiations have not yet resulted in a consensus outcome but
they continue, and the Company will update the market on the result
of these in due course.
Further announcements will be made as and when appropriate.
For further information, please contact:
Zattikka
Mark Opzoomer, Chief Executive Officer +44 (0) 20 7491 6410
Rob Gorle, Chief Financial Officer
Canaccord Genuity Limited
Nominated Adviser and Broker
Simon Bridges / Peter Stewart +44 (0) 20 7523 8000
Buchanan
Jeremy Garcia / Clare Akhurst +44 (0) 20 7466 5000
www.buchanan.uk.com
About Zattikka:
Zattikka plc is a digital games entertainment group, developing
games and providing publishing services in this sector of the
rapidly evolving multi-billion dollar global digital entertainment
market. Headquartered in the United Kingdom with shares listed on
London's AIM (ZATT), Zattikka games studios include Sneaky Games
(USA), Spellgun (USA and China) and Hattrick (Europe). Business to
business services include high quality game art and design services
provided by Concept Art House (USA and China) and in-game analytics
insights through its bespoke SNAP technology platform developed in
London.
For more information visit www.zattikka.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPGUGCMUPWGWP
Zattikka (LSE:ZATT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Zattikka (LSE:ZATT)
Historical Stock Chart
From Jul 2023 to Jul 2024