Reference is made to the announcement by Tencent Cloud Europe B.V. (“Tencent”) earlier today, 14 July 2020, regarding its plan to resolve to carry out a compulsory acquisition of all remaining shares in Funcom SE (the “Company”) not owned by Tencent.
The Board of Directors of Tencent has this afternoon, on 14 July 2020 resolved to carry out a compulsory acquisition of all remaining shares in the Company not owned by Tencent pursuant to section 4-25 of the Norwegian Public Limited Liability Companies Act. As a consequence, Tencent has assumed ownership of all shares in the Company.
The offered redemption price under the compulsory acquisition is NOK 17.00 per share (“Offered Redemption Price”). The Offered Redemption Price corresponds to the offer price in the completed voluntary offer to acquire all shares in the Company. Tencent has deposited an amount equal to the total settlement amount for the shares to a separate account in DNB Bank ASA in accordance with section 4-25 (5) of the Norwegian Public Limited Liability Companies Act.
A notice regarding the compulsory acquisition will be sent to all former shareholders subject to the compulsory transfer whose addresses are known. In addition, the compulsory acquisition will be announced through the electronic notice service of the Norwegian Register of Business Enterprises (Nw. Brønnøysundregistrene) if/as required pursuant to applicable law.
As a consequence of the compulsory acquisition, Tencent will pursue a de-listing of the shares in the Company from the Oslo Stock Exchange. Separate stock exchange notices will be published by the Company regarding the timing for such delisting.
Oslo Børs is requested to suspend the Company’s shares from trading without delay.
Baker McKenzie and AGP Advokater (Norway) are acting as legal advisors to Tencent in connection with the voluntary offer and the compulsory acquisition.
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Funcom is an independent developer and publisher of computer and console games. Funcom was founded in 1993 and listed on the Oslo Stock Exchange in 2005. Funcom became one of the pioneers of massively multiplayer online role-playing games (“MMORPG”) when Funcom released the PC game Anarchy Online. Over the course of its history, Funcom has developed and published around 30 game titles across several genres and gaming platforms. Currently, Funcom holds a broad portfolio of both released games and owned content, with high-degree control of its IPs. Funcom’s key active game portfolio includes Conan Exiles, Mutant Year Zero, Secret World Legends, Conan Unconquered as well other games such as Age of Conan, Anarchy Online, The Park, Hide & Shriek and The Longest Journey.
Tencent uses technology to enrich the lives of Internet users. Tencent’s communications and social platforms, Weixin and QQ, connect users with each other and with digital content and services, both online and offline, making their lives more convenient. Tencent’s targeted advertising platform helps advertisers reach out to hundreds of millions of consumers in China. Tencent’s FinTech and business services support its partners’ business growth and assist their digital upgrade. Tencent invests heavily in talent and technological innovation, actively promoting the development of the Internet industry. Tencent was founded in Shenzhen, China, in 1998. Shares of Tencent (00700.HK) are listed on the Main Board of the Stock Exchange of Hong Kong.