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FUNCOM.OL on Oslo Stock Exchange

2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Funcom Q2 EBITDA swings to loss of $412,000
Friday, 26 Aug 2016 02:00am EDT 

Funcom NV : Q2 revenue $1.7 million versus $2.7 million year ago . Q2 EBITDA loss $ 412,000 versus profit $261,000 year ago .Expects to have the ability to fund its operations for the next twelve months after the end of Q2.  Full Article

Funcom moves early access date for Conan Exiles to Jan 2017
Wednesday, 22 Jun 2016 06:30am EDT 

Funcom N.V. : Has decided to move early access date for Conan Exiles to January 2017 .Says development team is on track to deliver what they set out to do for Sept. 13 but is of opinion that additional development time will allow for better product with higher quality and sales potential.  Full Article

Funcom partners with NVIDIA on "Conan Exiles"
Wednesday, 8 Jun 2016 08:41am EDT 

Funcom NV :Has entered into partnership with NVIDIA for the co-marketing and development of "Conan Exiles".  Full Article

Funcom raises NOK 52.8 mln in private placement, restructures debt
Thursday, 26 May 2016 08:46am EDT 

Funcom NV : Completes private placement raising about 52.8 million Norwegian crowns (about $6.34 million) in gross proceeds . Issues 95,970,000 new shares at subscription price 0.55 crown per new share . In order to reduce dilutive effects of private placement, intends to launch subsequent offering of about 15 million new shares . Subscription price per offer share will correspond to subscription price in private placement, being 0.55 crowns per share . Says private placement ensures the company has sufficient funds for operations for at least coming 12 month period . Will use private placement proceeds for development of game Conan Exiles and two other titles to be developed this year, for repayment of $500,000 thousand short term loan drawn in April 2016 and other general corporate purposes . Has entered into agreement with KGJ Investments S.A., SICAV-SIF (KGJI) for restructuring of company's $7.95 million restated and amended convertible loan agreement dated 13 April 2014 and convertible bond loan from 21 December 2011 . Under agreed debt restructuring KGJI will convert $7.7 million of principal amount owed by company under convertible loan into 42,777,778 new Funcom shares . Debt conversion is made at a conversion price of $0.18 per share.  Full Article

Funcom Q1 EBITDA down at $263,000
Thursday, 19 May 2016 01:58am EDT 

Funcom NV : Q1 revenue $2.0 million versus $2.8 million year ago . Q1 EBITDA $263,000 versus $487,000 year ago .Expects to have the ability to fund its operations for the next twelve months after the end of Q1 2016.  Full Article

Funcom signs $0.5 mln short-term loan agreement
Wednesday, 13 Apr 2016 02:05am EDT 

Funcom NV:Says has entered into short-term loan agreement with KGJ Investments S.A., SICAV-SIF for amount of $500,000 to support operation of business during period of share issue.Loan will be repaid in full once capital is raised from share issue.  Full Article

Norwegian police say charges Funcom ex-CEO
Tuesday, 16 Feb 2016 07:54am EST 

Funcom NV:Charging former Funcom Chief Executive Officer Trond Arne Aas with alleged market manipulation and insider trading, focusing on a nine-month period in 2011-2012.Says three other individuals tied to the company are also charged with insider trading.Lawyers representing the four told financial daily Finansavisen their clients were innocent of the charges.Lawyers were not immediately available for comment when contacted by Reuters.  Full Article

Funcom NV plans new share issue to meet capital requirements‍​
Friday, 29 Jan 2016 02:00am EST 

Funcom NV:Plans share issue of $5-10 million to meet its own capital requirements‍​.  Full Article

Funcom NV and Conan Properties enter into a new partnership
Friday, 18 Dec 2015 12:38am EST 

Funcom NV:Acquired the rights to develop multiple games based on "Conan the Barbarian" and the world of "Hyboria".Agreement includes the issuance of warrants to purchase up to 3,130,000 shares of Funcom N.V.'s publicly traded stock.  Full Article

Funcom has accepted a fine of NOK 1.500.000 from ØKOKRIM
Friday, 23 Oct 2015 02:00am EDT 

Funcom NV:Funcom NV has accepted a fine of NOK 1.500.000 from ØKOKRIM (the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime.The fine is related to the launch of The Secret World and information given to the market during the period from October 2011 to August 2012.  Full Article

BRIEF-Funcom Q3 EBITDA turns to profit of $97,000

* Company expects to have ability to fund its operations for next twelve months after end of Q3 2016 Source text for Eikon: Further company coverage: (Gdynia Newsroom)