'Buy back offer' made as plans for 'dual listing on LSE' considered.
CI Games (CIG) announced today that it has made a tender offer to buy back all remaining shares of the publishing label, United Label (UNL), best known for Tails of Iron and Roki. The buy back offer is at PLN18.02 per UNL share in an all cash transaction. The offer represents a 14.8% premium on the last closing price as of Monday 16th May and values UNL at PLN22.98m. CI Games owns a 78.5% stake in UNL. Marek Tyminski, CEO of CI Games, commented about the transaction:
'Delivering new and engaging content to our international fanbase via our established partnership with United Label has been a core tenet of our updated strategy since it was launched early 2019.
We truly believe that by bringing United Label back under full ownership of CI Games, we will be better able to support its growth and our combined players communities, as we continue to target a potential dual listing in London. This will aid in driving forward the enlarged group's future success through sustained investment into all four pillars of our growth strategy and leveraging our diversified global structure, to deliver our strongest portfolio of games and content to date.'
CI Games recently announced record activity in 2021, the company's most successful year to date, and continues to make considerable progress across three main projects based on its own IPs, including the highly anticipated, upcoming action-RPG, Lords of the Fallen 2 - its most ambitious project to date.
For more information, visit: https://www.cigames.com/en/
Contact: Hugo Bustillos, Head of Global PR - hbustillos@cigames.com
Links:
Official Website: https://www.cigames.com/en/
Twitter: https://twitter.com/cigamesofficial
YouTube: https://www.youtube.com/user/cityinteractive
About CI Games
CI Games is an independent, global Video Games Developer and Publisher, with studios in Warsaw, Barcelona, Bucharest, and the US. Founded in 2002, CI Games have created globally recognised titles for close to twenty years; the Sniper Ghost Warrior franchise has sold over 13 million copies worldwide, while Lords of the Fallen recently surpassed the 3 million mark. In 2018 United Label was founded, focusing on smaller but equally ambitious titles, including Roki, Eldest Souls, and Tails of Iron. Hexworks, a new studio specialising in action-RPGs and made up of industry veterans, was recently formed and is currently developing Lords of the Fallen 2, the company's most ambitious title to date.
For more information about CI Games, please visit www.cigames.com
About United Label
Founded in 2018, United Label is a publishing house specialising in highly ambitious, lovingly crafted video games. Roki, the studio's inaugural release, received critical acclaim upon its launch in late 2020 with Eldest Souls and Tales of Iron both releasing in 2021 to great reception from media and players. Driven by a desire to work with the most innovative game creators around the globe, from highly experienced teams to passionate start-ups, United Label offers a platform to deliver titles with a unique vision and a publishing structure for success.
For more information about United Label, please visit www.unitedlabelgames.com
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