On October 18, 2023, LL Lucky Games AB (the “Company”) announced its intention to acquire 20% of CYG Pte. Ltd. After the completion of due diligence, the acquisition has now been finalized in accordance with what was previously communicated.
The parties have agreed that the purchase price of SEK 19.7 million will consist of 23,194,000 newly issued shares, issued through a set-off (non-cash) share issue carried out at a share price of SEK 0.85, with a 24-month lock-up period. This should be viewed in relation to the fact that the Company’s total number of outstanding shares as of today amounts to 135,096,057, which means dilution of approximately 15%.
The Company holds an ownership stake of 20% in CYG Pte. Ltd as of 2023-11-22.
“We are very happy and proud of the acquisition, convinced that it gives us the right conditions to continue developing our position in Asia. We see potential synergies as well as opportunities to expand our distribution network. We look forward to an exciting journey together with CYG Pte. Ltd,” says Calvin Lim Eng Kiat, CEO of LL Lucky Games.
CYG Pte. Ltd, together with its subsidiary CY Labs, is a software development company specializing in fintech and back-end systems for gaming. The company is headquartered in Singapore and has an office in Manila, Philippines. The organization develops a robust and scalable back-end system that enables high data throughput. In addition, CYG Pte. Ltd is a platform provider for InPlay, one of the most reputable and well-known online casino sites in the Philippines, licensed by the Philippine gaming authority PAGCOR.
For more information
Calvin Lim Eng Kiat
CEO, LL Lucky Games AB (publ)
[email protected]
The Company’s Certified Advisor
Corpura Fondkommission AB
About LL Lucky Games
LL Lucky Games AB (publ) designs, develops, and markets digital slot games for gaming operators. The company was founded in Stockholm in 2019 by veterans in game development, with a focus on gaming experience and design. By combining creative talent, technical expertise, and business know-how, the company has developed a broad game portfolio. The company is listed on Nasdaq First North Growth Market.
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