A group of shareholders in Gaming Innovation Group Inc. ("GIG") have today sold 20 million shares in GIG to institutional investors at a share price of NOK 3.20.
The Board of Directors of GIG is positive to broaden the Company's shareholder base with institutional investors, and has therefore released the shares from the lock-up entered into in connection with the purchase of Gaming Innovation Group Ltd. in 2015, ref. Information Memorandum dated 17 March 2015. The remaining number of shares under lock-up form this transaction is 298,775,000 (until 17 June 2017). The sellers have initiated the transaction due to tax payments related to the transaction last year.
The sale has been arranged by ABG Sundal Collier ASA.
Super Innovative Limited, a company owned by Robin Reed, CEO and primary insider of GIG, has today sold 3,000,000 GIG shares at NOK 3.20 per share. After this transaction, Close associates of Robin Reed owns 58,134,881 shares in GIG, decreasing his holding of shares in GIG from 10.05% to 9.55% of the outstanding shares in GIG.