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Stock Exchange Release Rovio Entertainment Corporation 20 January 2023, 9:00 AM ET
Le Vio entertainment company Acknowledgment of receipt of a non-binding indicative proposal game console holding company
Board of Directors of Rovio Entertainment Corporation (“Le Vio”) noted that Playtika Holding Corp. (“game console”) regarding its non-binding indicative proposal to acquire all issued and outstanding shares of Rovio at a proposed price of EUR 9.05 per share (“Indicative proposal”), representing a premium of approximately 60% to the closing price of Rovio shares on Nasdaq Helsinki on January 19, 2023.
Playtika’s indicative proposal to the Rovio Board of Directors yesterday at 6:31 p.m. was not previously presented to the Board, Playtika’s announcement regarding its indicative proposal was made public at approximately the same time as its submission to the Board, and Playtika’s announcement has not been presented to the Board for any approach in coordination with the Rovio Board of Directors.
Consideration of the indicative proposal for a cash tender offer by Playtika is subject to the satisfaction of a number of preconditions, including, but not limited to, satisfactory completion of due diligence, final approval of Playtika’s board of directors, unanimous and unqualified recommendation from Playtika’s Rovio board of directors and agreement between Rovio and Playtika Negotiation and execution of merger agreements. Completion of any such cash offer is subject to further conditions, including, but not limited to, the approval of Rovio shareholders holding at least 90% of Rovio’s shares, and receipt of all necessary regulatory approvals, according to the indicative proposal.
Currently, Rovio is not in any negotiations with Playtika. Rovio’s board of directors is evaluating the indicative proposals and will decide whether and how to proceed.
Rovio will issue further information in due course. There can be no assurance that the Indicative Offer will result in any cash tender offer or any other transaction.
Rovio Entertainment
Board of Directors
For more information, please contact:
Alexandre Pelletier-Normand, CEO
RovioIR@rovio.com
+358 40 485 8985
distribute:
Nasdaq Helsinki Ltd.
major news media
About Rovio:
Rovio Entertainment Corporation is a mobile-first global gaming company that creates, develops and publishes mobile games that have been downloaded more than 5 billion times. Rovio is best known for the global Angry Birds brand, which started as a popular mobile game in 2009 and has since grown from games to a variety of entertainment, animation and consumer products licensed by the brand. Rovio produced The Angry Birds Movie (2016), whose sequel, The Angry Birds Movie 2, was released in 2019. The company offers a wide range of mobile games and has eight game studios – one in Espoo (Finland), one in Stockholm (Sweden), one in Copenhagen (Denmark), one in Barcelona (Spain) and two in Montreal , one in Toronto (Canada). The studios also include an Izmir (Turkey)-based subsidiary called Ruby Games, which was acquired in 2021. Most of the employees are based in Rovio’s headquarters in Finland. The company’s shares are listed on the main board of the NASDAQ Helsinki Stock Exchange under the trading symbol ROVIO. (www.rovio.com)
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