Funcom SE: Intention to resolve a compulsory acquisition

Reference is made to the announcement dated 15 April 2020 regarding completion of the voluntary offer from Tencent Holdings Limited through the indirectly owned subsidiary Tencent Cloud Europe B.V. (“Tencent”) to acquire all shares in Funcom SE (the “Company”). Following the completion of the voluntary offer, Tencent became the owner of 77,365,864 shares in the Company, representing approximately 95.11% of the shares and votes in the Company. Reference is further made to the announcement by the Company dated 3 July 2020 regarding finalization of the Company’s re-domiciliation from the Netherlands to Norway.

After close of trade today, 14 July 2020, the Board of Directors of Tencent plans to resolve 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 will assume ownership of all shares in the Company.

The offered redemption price under the compulsory acquisition will be NOK 17.00 per share (“Offered Redemption Price”), which corresponds to the offer price in the completed voluntary offer to acquire all shares in the Company.

Following 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.

Baker McKenzie and AGP Advokater (Norway) are acting as legal advisors to Tencent in connection with the voluntary offer and the compulsory acquisition.

For further information, please contact:

Tencent
Investor Relations
Jane Yip
Tel: (86) 755 8601 3388/ (852) 3148 5100 ext. 868961
Email: [email protected]/ [email protected]

 

About Funcom
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.

About Tencent
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.

Posted in