Key Developments: Funcom NV (FUNCOM.OL)

FUNCOM.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Funcom expects Q1 revenues to be comparable or slightly lower than 4Q 2013
Friday, 28 Feb 2014 01:55am EST 

Funcom NV:Expects Q1 revenues to be comparable or slightly lower than 4Q 2013.Reported revenue of $4,270,000 for Q4 2014.  Full Article

Funcom issues 5 mln new shares following exercise of warrants
Friday, 7 Feb 2014 01:53pm EST 

Funcom NV:Says KGJ Investments S.A., SICAV-SIF has exercised 5,000,000 warrants giving rights to subscribe for 5,000,000 new shares in the company at a price of $0.37 per share.Says the issued share capital of Funcom N.V. after the capital increase is 2,872,518 euros divided into 71,812,946 shares.Says all of the proceeds from the exercise of the warrants ($1,850,000) will be used to repay a portion of the outstanding interest bearing loan with a current balance of $8,000,000.  Full Article

Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime collects documents from Funcom NV
Thursday, 30 Jan 2014 03:02am EST 

Funcom NV:Says on Jan. 29 Okokrim (the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime) collected documentation from the Funcom Oslo office in full cooperation with the company.Says the incidents being looked at pertain to activities conducted by Funcom from Aug. 2011 until the launch of The Secret World in July 2012 and the two months following the launch.Says the management will continue to cooperate with Okokrim and provide them with information as needed.Says production and development of all games are continuing as usual following a short disruption on Jan. 29.  Full Article

Funcom announces transactions involving company's shares
Monday, 27 Jan 2014 03:06am EST 

Funcom NV:Says Nexus Capital AS, a company within the Kristian Gerhard Jebsen Group, owned by Hans Peter Jebsen, sold 1 million shares in Funcom on Jan. 24 at a price of 5.42 Norwegian crowns per share.Says following the transaction Nexus Capital holds 10,950,525 shares in the company.Says KGJ Investments S.A., SICAV-SIF, another company in the Kristian Gerhard Jebsen Group, has exercised 5 million warrants and subscribed for 5 million new shares in Funcom at a subscription price of $0.37 (about 2.27 Norwegian crown) per share.Says following the transaction KGJ Investments S.A., SICAV-SIF's interest in Funcom is 5 million shares and 10 million warrants.Says the exercise of warrant generates proceeds of about 11.3 million Norwegian crowns.Says following the transactions Hans Peter Jebsen's total capital interest (the number of existing shares held + potential shares from exercise of warrants and conversion of convertibles, divided by the number of existing shares) in Funcom will fall from 65.2 percent to 59.2 percent.  Full Article

Funcom NV Proposes No Dividend Payment For FY 2012
Tuesday, 30 Apr 2013 12:28pm EDT 

Funcom NV announced that its Management Board decided not to propose payment of a dividend for the fiscal year 2012.  Full Article

Funcom NV Issues Q1 2013 Sales and Recognized Revenues Guidance
Thursday, 28 Feb 2013 01:45am EST 

Funcom NV announced that the Company expects its sales for Q1 2013 to be in line with the result reported for Q4 2012. The Company also expects its Q1 2013 recognized revenues result to be lower than the result reported in Q4 2012.  Full Article

Funcom NV Announces Update on Restructuring and Reduction of Personnel
Friday, 25 Jan 2013 01:55am EST 

Funcom NV announced that as part of the restructuring it establishes a joint, centralized live team at its studio in Raleigh, North Carolina, whose primary responsibility will be expanding and enhancing the Company’s three live games. The team in Montreal will work on currently unannounced projects for the tablet and mobile platforms, as well as continuing to improve and enhance Funcom’s own Dreamworld technology. The restructuring process includes a reduction in headcount at the Montreal studio among those who have not been relocated to Raleigh to be part of the centralized live team or who are not part of the new team which will be working with mobile, tablet and technology. There has also been a staff reduction at the Raleigh studio in certain departments.  Full Article

Funcom NV Announces Restructuring of Company
Thursday, 10 Jan 2013 01:55am EST 

Funcom NV (Funcom) announced that as part of the ongoing review of strategic options announced on October 22, 2012, Funcom has initiated a process of restructuring the Company around its core products and technology. This includes the consolidation of offices and teams around the world, as well as the streamlining of internal processes. By taking advantage of the Company's technology, the new organization will be better equipped to realize the strategy of building smaller MMO games such as the upcoming 'LEGO Minifigures' game which is currently in development by the team at the Company's Oslo studio. The restructured organization will continue to focus on its existing MMO games; 'Age of Conan', 'Anarchy Online' and 'The Secret World'. Through providing more organizational focus and strengthening the competence of a joint central team that will continue to operate and enhance these games, the Company will work towards increasing their profitability and continue to provide experiences for existing, returning and new players of these online worlds.  Full Article

Northzone IV K/S Divests Stake in Funcom NV
Thursday, 13 Dec 2012 04:33am EST 

Funcom NV announced that Northzone IV K/S has on December 13, 2012 sold 3,349,175 shares in the Company, representing 5.04% of the outstanding share capital. After the sale, Northzone holds no shares or rights to shares in the Company.  Full Article

Funcom NV Appoints Viktoria Krasteva Acting CFO
Tuesday, 27 Nov 2012 03:52am EST 

Funcom NV announced that Bjorn Toften, Chief Financial Officer (CFO) of the Company, has been appointed as an expert lay judge in a tax case that will proceed for a number of months. Group Controller of the Company, Viktoria Krasteva, has therefore been appointed as acting CFO of the Company effective from December 1, 2012. Mrs. Krasteva, a chartered accountant, has worked for the Company for two years.  Full Article

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