Mandatory notification of trade by primary insiders and disclosure of large shareholdings

Today, on 11 September 2018, KGJ Capital AS – a wholly owned company in the Kristian Gerhard Jebsen Group – has sold a total of 880,000 (depositary ownership in) shares in Funcom N.V. (the “Company”) in a private transaction to five buyers.  The shares were sold at a price of NOK 20.00 each, and the total consideration was NOK 17.6 million.

Among the buyers were the primary insiders Fredrik Malmberg and Susana Meza Graham, as well as Swedbank Robur Fonder.

· Tranicos, LLC., an entity controlled by Fredrik Malmberg, supervisory board member of the Company, has purchased 30,000 (depositary ownership in) shares. After the transaction Mr. Malmberg controls directly or indirectly 4,500,000 (depositary ownership in) shares, and holds 88,000 stock options in the Company, being an actual holding of 5.94% and a potential holding of 6.06% (being the «Total capital interest»). The potential holding «Total capital interest» is calculated as number of shares owned plus potential shares issued in the future from options, divided by the currently issued share capital of the Company.

· Advenimus AB, an entity controlled by Susana Meza Graham, aspirant supervisory board member of the Company, has purchased 150,000 (depositary ownership in) shares. Reference is made to the stock exchange notice published on 3 August 2018. After the transaction Mrs. Meza Graham controls directly or indirectly 155,000 (depositary ownership in) shares.  After being appointed member of the Company’s Supervisory Board by the shareholders on 14 September 2018 – subject to approval of the shareholders – she will be granted 38,000 stock options in the Company.

· SwedBank Robur Ny Teknik, a fund managed by Swedbank Robur Fonder AB, and which already owns more than 3% of the Company, has purchased 450,000 (depositary ownership in) shares.  After the transaction SwedBank Robur Fonder AB directly or indirectly controls 7,250,000 (depositary ownership in) shares in the Company, being 9.57%.

Following the transaction, companies controlled directly or indirectly by Mr. Hans Peter Jebsen will hold 21,293,076 (depositary ownership in) shares in the Company (excluding conversion rights), being the equivalent of 28.11% of the currently issued share capital of the Company:

·         KGJ Capital AS: 2,936,162 (depositary ownership in) shares

·         KGJ Investments S.A. SICAV-SIF: 18,316,616 (depositary ownership in) shares and convertible rights of  1,007,815 shares

·         Tusca AS: 40,298 (depositary ownership in) shares

Following the transfer, the potential holding, «Total capital interest» for companies controlled directly or indirectly by Mr. Hans Peter Jebsen will be 29.44%. The potential holding is calculated as number of shares owned plus the shares issued from conversion of the remaining convertible bonds, divided by the current issued share capital of the Company. The actual shareholding for companies controlled directly or indirectly by Mr. Hans Peter Jebsen just before the transaction was 29.27%.

KGJ Investments S.A. SICAV-SIF has expressed its intention to convert the remaining convertible bonds that it holds under the 10 per cent Senior Unsecured Convertible Bond Issue 2011/2014 before its final due date in December 2018.  Such a conversion would cause the actual shareholding of Funcom N.V. controlled directly or indirectly by Mr. Hans Peter Jebsen to increase slightly but remain below 30%.

Badhoevedorp, the Netherlands, 11 September 2018

Funcom N.V.

(This information is submitted pursuant to the disclosure requirements of §5-12 of the Norwegian Securities Trading Act.)

Posted in