1 Illustration: Johan Svensson Invitation to subscribe for shares in (publ) Gaming Corps AB Summary - April 2015 SEK 7,25 Subscription price per share SEK 16 mkr Preference share issue 29 april Closing date for subscription
2 KEY INFORMATION This document is a summary of the requirements, terms and conditions for investing in Gaming Corps AB (Swedish Corporate ID No ) by participating in a new share issue. The contents do not include the full details necessary for an investor to take a sufficiently well-founded investment decision. Neither does this summary constitute a prospectus pursuant to the Prospectus Directive (2003/71/EC). To obtain complete information the recipient is referred to the information memorandum (IM), concerning the present share issue, drawn up by the Company s board. The IM is available to download, with application forms for subscription without preferential rights, at and Overview Gaming Corps is a company with a skilled team who have solid experience of the two sides of the sector, i.e. gaming and gambling. The Company will capitalise on the contacts it has made in the sector, with the aim of rapidly establishing the next major games-oriented enterprise, based in Uppsala, Sweden. The first product will be Air, a game tie-in to the upcoming film from the creators of the TV success The Walk-ing Dead. Gaming Corps has an explicit focus on consistently working with some of the world s largest brands and intellectual property (IP) rights, particularly in Hollywood. With well-known li-censed IP rights, Gaming Corps has good prospects of creating revenue streams both from gam-ing and (through cooperation with casino platform suppliers and gambling operators) from gam-bling, based on the same rights. Gaming Corps s own game titles cater mainly for PC, console and mobile platforms. Alongside social casino apps for app stores, the company will also develop and market mobile games in other genres to reduce business risk and build the largest possible user base. Gaming Corps has good prospects of entering into additional agreements with major game pub-lishers and platform owners to engage in pre-financed commissions to develop games. The com-pany sees this as an excellent way of reducing business risk, since commissions of this kind nor-mally provide a stable cash flow over months and simultaneously generate potential for attracting top elite Swedish games developers as employers. Successful social casino apps are commonly found among the bestsellers in app stores (Apple, Android) and, in many cases, have millions of users. Although a player s lifetime value (LTV) averages only a couple of dollars, the massive volume generates good income streams for suc-cessful titles. In some markets, casino players who play for real money and make deposits may have an LTV of well over USD 1,000. Gambling Current projects Gaming Corps is in partnership with Skybound, with the ambition of creating games from sever-al of their IP rights. Skybound, based in Los Angeles, is best known as the creator of The Walking Dead. Mobile PC/ STEAM IPR AAA AIR Gaming Corps has licensed game rights to Skybound s (The Walking Dead etc.) upcoming major film AIR. This adventure game is currently being produced in Uppsala, entirely under Gaming Corps management. However, there is an opportunity for a co-publisher to buy into the project along the way, for shared risk and upside. In pure business terms, the game will be sold as epi-sodes. This is a concept with which Skybound has previously achieved great successes jointly with the Telltale games studio. EEDAR, the renowned game research company, has drawn up a sales forecast for the game that, in an intermediate sales scenario, gives it some USD 13 million in sales revenues for the PC ver-sion alone (with additional console income) for the first six episodes. These will be released monthly, starting in August Riddick Gaming Corps has publishing rights to the mobile game Riddick: The Merc Files. This game, re-launched with improved graphics and playing experience in January 2015, is expected to be one of the launch titles in the graphics card producer Nvidia s range of gaming tablets and its own app store. The actor Vin Diesel has done voice-overs and the game is thought to be transferable, with only a small outlay, to PCs for launch on Steam. Casino games Gaming Corps has begun work on the proof of concept for the title, with shared IP rights, on so-cial casino apps (mobile platforms, the Web and Facebook) and a real-money slot. Negotiations are under way with casino platform suppliers for development, and inclusion in their product range for casino operators, based on graphics and IP rights provided by Gaming Corps. After the launch, Gaming Corps will have revenue streams from three different sources: play money, real money and super affiliates. Gaming Corps s long-term strategy in PC and console games (and also mobile games) is to own and publish the games in-house for optimal upside. Collaboration with Skybound is an important piece of the puzzle of how to successfully build a profitable portfolio of game titles over time.
3 The gaming markets The global gaming market was worth some USD 70 billion in 2013 and is expected to grow to a value of USD 86bn by Mobile platforms account for the most rapid growth and are fore-cast to make up roughly 28% of the market in The global market for online gambling was worth an estimated EUR 26bn in 2013 and is ex-pected to grow by around 10% a year between now and 2016, when its value will thus be about EUR 35bn. Casino games and especially slots (one-armed bandits) are well suited for playing on mobile platforms and are a growth segment of the gambling market. Källor: NewZoo, H2GC Major shareholders Shares Capital & votes (%) Dunham Sweden AB (Nicklas Dunham & Jens Larsson) ,2 Danica Pension Försäkrings AB Rune F Löderup * 6,0 *of which shares are subject to registration due to exercised stock options. Fredrik Johansson ,4 Eric Holmberg ,7 Other shareholders ,7 Total number of shares % Members of the Company s Board and also the Company s major shareholders, holding 5% or more of total outstanding shares before the upcoming share issue (Danica Pension Försäkrings AB excepted), have given the Company an undertaking to restrict their own scope for divesting shares during the 12 months from the first trading day. This restriction covers 90% of shareholdings concerned, which are listed in the table above.. Management Nicklas Dunham // CEO Nicklas Dunham is a Swedish computer games veteran whose previous experience includes be-ing sales manager and CEO of Starbreeze AB; co-founding Stillfront AB; and working on the softer sides of the Swedish gaming industry as a sector specialist for the games incubator pro-gramme run by the Swedish Governmental Agency for Innovation Systems (Vinnova). Over the years, Nicklas has acquired experience of both the traditional gaming industry and game devel-opment for web and mobile interfaces. Profit & Loss (SEK) as at 31 December 2014 Net revenue Other revenue Övriga externa kostnader Personnel costs Earnings Before Tax (EBT) Balance sheet (SEK) as at 31 December 2014 Assets Fixed assets Capitalised development costs Cash and bank TOTAL ASSETS Shareholders equity and debt Shareholders equity Long term liabilities Short term liabilities Total shareholders equity and debt Gaming Corps was formed in March 2014 and has raised capital of some SEK 9.3 million ahead of the upcoming share issue. Jens Larsson // Creative Director Jens Larsson has a distinguished track record as a games designer and producer in the gaming industry. He was a co-founder of Starbreeze AB and Stillfront AB, and has taken part in about ten computer game productions. Jens has also run a pioneering web and media agency in the US that paved the way for social and viral marketing back in Per Finnström // COO Per Finnström has extensive experience from both sides of the gaming industry, first as a pro-grammer at Starbreeze and second as a project manager at Ongame (which was sold to Bwin). He has also worked as a consultant at Accenture and been development manager at Klarna. The Board Rune Löderup // Board Chair Jonas Forsman // Board Vice Chair Ralph Murphy // Board member Johan Sundström // Board member Lars Egnell // Board member Nicklas Dunham // Board member With a fully subscribed share issue, the Company will receive SEK 15,834,000 before issue and guarantee costs, by issuing 2,184,000 shares. The Company is valued, before the share issue, at SEK 39,585,000.
4 CEO s review Nicklas Dunham, CEO, is probably Sweden s most successful person in terms of both the number of his commissions to develop video games and their aggregate development budgets, for companies like Starbreeze, Grin and Stillfront (10 titles with a total value of some USD 80 million). Foto: Angelica Klang In a short time, Gaming Corps AB has generated stunning opportunities. We are in partnership with Skybound in the US and have already embarked on the first joint development project for a game tie-in entitled AIR. It is a tremendous thrill to have Robert Kirkman, creator of The Walking Dead, involved in the process. The initial launch of the game AIR is planned to take place via the STEAM distribution platform and reach app stores via mobile platforms. AIR will also be a fea-ture film with Sony Pictures as its distributor, which will facilitate marketing and sale of the game. What is more, AIR is Gaming Corps s first reference project in which a licensed brand (IP right) also provides a bridge to the part of the gaming industry in which playing for money is the cen-tral element. AIR will therefore also be launched as a slot (one-armed bandit) game online, through a casino platform supplier who, in turn, delivers the game to affiliated game operators. It feels wrong to describe this future income stream as passive, but from a legal point of view it is important to emphasise that this is so. Gaming Corps needs no gaming licences and will receive a percentage of the net gaming profits. In the course of my career in the gaming industry, I have accumulated a large contact network. It used to be a matter of helping other companies to capitalise on the contacts I made as an em-ployee or hired consultant for Starbreeze, Stillfront or Grin, for example. (The people behind Grin then started Overkill, and became the new principal owners of Starbreeze after acquiring Overkill: the industry is gigantic, but sometimes feels like a small world.) With Gaming Corps I am, if anything, even keener to be able to deliver, which is obviously in line with creating share-holder value for all the shareholders in Gaming Corps AB. We welcome you as a shareholder in Uppsala s next major gaming company. Nicklas Dunham - VD Contact info Website:
5 Non-preferential subscription Application form for subscription of shares in Gaming Corps AB (publ) Subscription period Subscription price Payment April 9 - April 29, 2015, 3 pm. SEK 7.25 per share. Payment shall be made in accordance with the contract note. I/We hereby apply for subscription of shares in Gaming Corps AB (publ) at SEK 7.25 per share: 1,000 shares (SEK 7,250) 4,000 shares (SEK 29,000) 2,000 shares (SEK 14,500) 5,000 shares (SEK 36,250) 3,000 shares (SEK 21,750) 6,000 shares (SEK 43,500) Another amount A copy of a valid identification must accompany the application form due to the fact that it relates to an amount in excess of EUR 15,000. If the application is for a legal entity, a registration certificate must also be provided, verifying the signatory. Name/Company National Insurance number (NINO)/Org.no. Address Postal code and Town Custody account number Bank/Trustee Contact person at the bank Contact information to the contact person ( address and/or telephone number) Telephone number address Place and date Signature (if applicable, signatory or guardian) By signing this application form, the following applies: I have read and understood all information issued in connection with this offer, I am aware that the application is binding, The allocation may be reduced or may not take place, My personal data will be processed in accordance with the Data Protection Act, I authorise Eminova Fondkommission AB, on my behalf, to carry into effect the purchase of the above shares. The application form shall be sent to: Mail Fax Eminova Fondkommission AB Barnhusgatan 16, 4 tr. SE Stockholm Sweden (scanned ducument) +46 (0)
6 Important information This information is only available in Swedish / Denna information finns endast på svenska. Eminova Fondkommission AB ( Eminova ) ( ) är ett värdepappersbolag som står under Finansinspektionens tillsyn. Eminova har tillstånd att bedriva värdepappersrörelse enligt lagen (2007:528) om värdepappersmarknaden. Finansiella instrument som erbjudandet avser har inte och kommer inte att registreras i något annat land än Sverige. De kommer därför inte att erbjudas till försäljning i något annat land där deltagande skulle förutsätta ytterligare prospekt, registrering eller andra åtgärder än som följer av svensk rätt eller strider mot lag, förordning eller annan bestämmelse i sådant land. Uppdrag genom undertecknad anmälningssedel befullmäktigar Eminova att för undertecknads räkning sälja, köpa eller teckna sig för finansiella instrument enligt villkoren som utformats för erbjudandet. Uppdrag genom undertecknad anmälningssedel omfattas inte av den ångerrätt som följer av distans- och hemförsäljningslagen. Tillvägagångssätt och teckningsperiod framgår av den information som utgivits i samband med erbjudandet. Genom anmälan i detta erbjudande blir undertecknad inte kund hos Eminova. Eminova kommer därför inte att kundkategorisera de som tecknar aktier enligt erbjudandet. Eminova gör inte heller en passandeprövning enligt lagen (2007:528) om värdepappersmarknaden avseende teckning av värdepapper i erbjudandet. I den information som utgivits i samband med erbjudandet framgår de risker som följer med en investering i de finansiella instrument som avses. Den som avser teckna finansiella instrument i enlighet med detta erbjudande uppmanas att noga läsa igenom den information som utgivits. Priset för de finansiella instrument som avses framgår av den information som utgivits i samband med erbjudandet. Kostnader utöver vad som angivits ovan, såsom skatter eller courtage, som kan komma att uppstå i samband med de finansiella instrument som erbjudandet avser, varken påföres av eller erläggs av Eminova. Personuppgifter som tecknaren lämnar i samband med anmälan behandlas av Eminova enligt Personuppgiftslagen (1998:204). Behandling av personuppgifter kan även ske hos andra företag som Eminova eller emittenten samarbetar med. Eminova ansvarar inte för tekniska fel eller fel i telekommunikations- eller posthantering i samband med teckning genom betalning eller inlämnande av anmälningssedel. VP-konto eller depå måste vara öppnat vid tillfället för anmälan. Klagomål med anledning av Eminovas hantering av order genom undertecknad anmälningssedel kan insändas per post till Eminovas klagomålsansvarige på adress Eminova Fondkommission AB, Att: Klagomålsansvarig, Barnhusgatan 16, 4 tr., Stockholm. Vid en eventuell reklamation mot Eminovas utförande av order ska detta ske inom skälig tid. Rätten att kräva ersättning eller att göra andra påföljder kan annars gå förlorad. Vid en eventuell tvist med Eminova kan konsumenter vända sig till Allmänna reklamationsnämnden, Box 174, Stockholm, telefon , Eminova följer svensk lag och materiell rätt tillämpas på Eminovas erhållna uppdrag. Allmän domstol är behörig domstol.