New Major Shareholders in Toadman (Soon to Be EG7) in Dan Sten Olsson With Family, Takes Board Position
Dan Sten Olsson with family now hold approximately 2.1 million shares in the company and are proposed to be represented in the board by Erik Nielsen.
The Stena Olsson family together with Erik Nielsen has acquired an additional 1.6 million shares in Toadman Interactive AB (under name change to EG7). In total, the group of investors now owns approximately 2.1 million shares in the company worth approximately SEK 57m and is therefore collectively the fifth largest shareholder.
In connection with this, Toadman’s shareholder, who represent more than 50% of the ownership, presents a proposal to elect Erik Nielsen to the board. The proposal requires a decision at the Annual General Meeting on April 23.
Erik Nielsen has a solid background in the financial industry with experience from SEB, Carnegie and Handelsbanken, among others. In recent years, Nielsen has worked very closely with the Stena Olsson family and will act as strategic advisor to EG7.
Comment from Robin Flodin, CEO of EG7:
“For us, it is a huge quality stamp to get such a reputable group of investors with strong financial muscles as new major owners in the company. I look forward to developing a long-term relationship with Olsson/Nielsen."
Comments from Erik Nielsen:
“We have followed the developments in Toadman and now see the opportunity to help the company to the next level in the long term. We believe – as when we invested early in Embracer Group – that Toadman has unique opportunities. The Group has successfully demonstrated the ability to combine gaming talent with business acumen.
FOR MORE INFORMATION, PLEASE CONTACT:
Robin Flodin, CEO
Phone: +46 70 477 06 34
Alexander Albedj, Chairman
Phone: +46 76 221 30 75
EG7 is a group of companies within the gaming industry that develops, markets, publishes and distributes PC, console and mobile games to the global gaming market. The company employs 100+ game developers and develops its own original IP:s, as well as act as consultants to other publishers around the world through its game development divisions Toadman Studios and Antimatter Games. In addition, the group's marketing department Petrol has contributed to the release of 1,500+ titles, of which many are world famous brands such as Call of Duty, Destiny, Dark Souls and Rage. The group's publishing and distribution department Sold Out holds expertise in both physical and digital publishing and has previously worked with Team 17, Rebellion and Frontier Developments. The Group is headquartered in Stockholm with 180 employees in 8 offices worldwide.
Nasdaq First North Growth Market Ticker Symbol: TOAD
Certified Adviser: Eminova Fondkommission AB, Phone: +46 8 684 211 00
This information is information that Toadman Interactive AB (publ) is not obliged to make public pursuant to the EU Market Abuse Regulation. However, the information is of importance to communicate to the company’s interested parties.