Notice of written resolution
7. January 2022
Nordic Trustee AS (the “Trustee”) will today send a notice of written resolution (the “Notice”) to the
holders of Gaming Innovation Group Plc’s bond 2021/2024 with ISIN NO0011017097.
In GiG’s press release on 22 December 2021 at 08.00 CET, the signing of a share purchase
agreement to acquire iGaming company Sportnco Gaming SAS was announced. In the statement, it
was mentioned that the acquisition requires the bond terms for GiG’s Bond to allow for roll over of the
current long-term loans in Sportnco Gaming.
GiG has therefore instructed the Trustee to send out the Notice, containing a description of inter alia
the background and proposed resolution in relation to acquisition of Sportnco Gaming.
Core values which form the base for the financial strategy and a sustainable business:
- Strict cost control
- Reduction of debt
- Conservative approach to amortisation on acquired affiliates and capitalised expenses
- Reducing non-marketing related OPEX to achieve bottom-line earning
In addition to a solid operating cash flow, external funding is facilitating acquisitions of affiliate markets, paying off existing working capital facilities and for general corporation purposes.
The funding strategy is built on the following principles:
- Funding is primarily raised by the parent company Gaming Innovation Group Plc.
- Type: senior secured funding
- Other funding types: diversified funding sources, EMTN program, SEC registered program, bilateral loans and bank funding
- Bank capacity is primarily allocated towards back-up facilities, local funding and trade related products