Funcom fundamental tråd

[Slappenfjert]

Trodde Tencent var listet på Nasdaq

[stianv]

Listet på både nasdaq og i Hong Kong.

[TekBot]

Presentation of Fourth Quarter 2019 Financials

Funcom will present its financial result for the Fourth Quarter of 2019 on
Friday 28 February 2020 at 17:00 hrs CET (17:00 local Oslo time).

…

Vis børsmeldingen

The presentation will be held in English on Twitch by CEO Rui Casais and CFO
Stian Drageset.

To watch the presentation please visit the Funcom Channel on Twitch
https://twitch.tv/funcom

For questions, please contact us by email at: investor@funcom.com

Please note that the Fourth Quarter 2019 report and presentation will also be
made available just ahead of the presentation on the company’s website at:
https://www.funcom.com/

To receive Funcom news directly to your e-mail sign up to our e-mail service at
https://investors.funcom.com/

Funcom SE

Badhoevedorp, the Netherlands, 24 February 2020

This information is subject to the disclosure requirements acc. to §5-12 of vphl
(Norwegian Securities Trading Act)

Kilde

[Pablo]

Noen som skal gi gutta tyn?

Blir vel tidenes korteste Q-presentasjon dette.

[Martins]

Fortsatt viktig å overbevise de som sitter om å selge til Tencent, så tror de legger litt i den. Vi får se

[erpe80]

“Vi säger mer när vi känner att vi är redo”…
…PM: Q presentation utsatt 2mån

[Janno]

Var jo en running joke hær inne ang FUN som gikk motsatt av macro, ser humoren i at den gjelder fortsatt pga Tencent Hadde vært 50–70k rikere om jeg beholdt aksjene til et evt salg

[Tekspert]

Hver måned kårer jeg det jeg kaller Teksperter™ for noen av de mest populære investeringene våre

Det er de 3 medlemmene som har fått flest likes på innleggene sine de siste 90 dagene. Teksperter™ får også en unikt merke på profilen sin og et trofé-ikon ved siden av navnet sitt. Du kan bli Tekspert™ i flere aksjer/investeringer, og troféet vil bare vises i tråder der du er Tekspert™.

Her er denne månedens Teksperter™ og det mest likte innlegget deres fra de siste 90 dagene:

1. @antzzo (1062 likes)

Conan Exiles (FUNCOM)

https://youtu.be/pZLD2Ele3mg

2. @h3nk1 (702 likes)

Funcom småprat 2020 (FUNCOM)

Utblåsning aksepteres tydeligvis ikke, selv på en dag som denne.

3. @anon80503862 (340 likes)

Funcom småprat 2020 (FUNCOM)

Konspirasjonsteorier er morsomme.

Resten av topp 10:

4. @Krafer (271 likes)

5. @Christian (271 likes)

6. @Halling (217 likes)

7. @Evilfreud (210 likes)

8. @xfrox (203 likes)

9. @Pablo (183 likes)

10. @Konamixx (179 likes)

Gratulerer!

[TekBot]

Position Statement of Funcom SE

Regarding the recommended cash offer by Tencent Cloud Europe B.V. for all issued
and outstanding ordinary shares of Funcom SE

…

Vis børsmeldingen

This position statement is published in accordance with section 18 paragraph 2
and Annex G of the Dutch Takeover Decree on public offers Wft (Besluit openbare
biedingen Wft)

The extraordinary general meeting of Funcom SE will be held at 11.00 hours, CET,
on 6 March 2020 at Prins Mauritslaan 37 - 39, 1171 LP, Badhoevedorp, the
Netherlands.

This position statement (the Position Statement) does not constitute or form
part of an offer to sell, or a solicitation of an offer to purchase or subscribe
for, any securities to any person in any jurisdiction.

This position statement is published by Funcom SE (Funcom or the Company) for
the sole purpose of providing information to its shareholders on the recommended
cash offer by Tencent, through its wholly owned subsidiary Tencent Cloud Europe
B.V. (Tencent or the Offeror), to all holders of issued and outstanding ordinary
shares with a nominal value of EUR 0,20 (twenty eurocents) (the Shares, and each
a Share, the holders of such Shares the Shareholders), in the share capital of
Funcom to purchase for cash their Shares on the terms and subject to the
conditions and restrictions set forth in the offer document dated February 19,
2020 (the Offer Document) (the Offer), as required pursuant to section 18
paragraph 2 and Annex G of the Dutch Takeover Decree on public offers Wft
(Besluit openbare biedingen Wft) (the Takeover Decree).

Capitalised terms in this Position Statement other than in the Fairness Opinion
(attached hereto as Schedule 1) and the agenda to the EGM together with the
explanatory notes (attached hereto as Schedule 2) shall, unless otherwise
defined in this Position Statement, have the meaning attributed to them in the
Offer Document. Any reference in this Position Statement to defined terms in
plural form shall constitute a reference to such defined terms in singular form,
and vice versa. All grammatical and other changes required by the use of a
definition in singular form shall be deemed to have been made herein and the
provisions hereof shall be applied as if such changes have been made.

Copies of this Position Statement are available on, and can be obtained free of
charge from, the website of Funcom investor.funcom.com.

The Offer, if completed, will result in the acquisition of securities of a
European Company (Societas Europaea) governed by Dutch law and is subject to
Dutch and Norwegian disclosure requirements, which differ from those in the
United States. Any financial information included or referred to herein has been
prepared in accordance with non-U.S. accounting standards and, accordingly, may
not be comparable to the financial information of U.S. companies or of companies
whose financial statements are prepared in accordance with generally accepted
accounting principles in the United States.

It may be difficult for U.S. holders of Shares to enforce their rights and any
claims arising under the U.S. federal securities laws, since the Offeror and
Funcom are located in a country other than the United States, and some or all of
their officers and directors may be residents of a country other than the United
States. U.S. holders of Shares may not be able to sue a non-U.S. company or its
officers or directors in a non- U.S. court for violations of the U.S. securities
laws. Further, it may be difficult to compel a non-U.S. company and its
affiliates to subject themselves to a U.S. court’s judgment.

Neither the U.S. Securities and Exchange Commission nor any U.S. state
securities commission or other regulatory authority in the U.S. has approved or
disapproved the Offer, passed upon the fairness or merits of the offer or
provided an opinion as to the accuracy or completeness of this Position
Statement or any other documents regarding the Offer. Any declaration to the
contrary constitutes a criminal offence in the United States. The Oslo Stock
Exchange in Norway has approved the Offer Document.

As set forth in the Offer Document, the Offeror and/or its Affiliates or their
brokers (acting as agents) will in the period from the date of the Transaction
Agreement and until six months after the Settlement of the Offer not directly or
indirectly acquire Shares (in the open market or privately negotiated
transactions or otherwise) at a consideration higher than the Offer Price (the
“Higher Consideration”), without increasing the consideration offered in the
Offer to be at least equal to such Higher Consideration subject to the terms and
conditions of the Offer Document. These purchases will be executed in accordance
with applicable law and the Offeror will, to the extent required by Norwegian
law, publicly disclose purchases of Shares in accordance with the procedures of
the Offer Document.

This document is not for release, publication or distribution, in whole or in
part in or into Canada, New Zealand, Japan, Hong Kong, Australia and South
Africa.

The information included in this Position Statement reflects the situation as of
the date of this Position Statement, unless otherwise indicated. Under no
circumstances may the issue or distribution of this Position Statement be
interpreted as implying that the information contained herein is true and
accurate on a later date than the date hereof, unless otherwise indicated.
Funcom does not undertake any obligation to publicly release any revision to
this information to reflect events or circumstances after the date of this
document, except as may be required by applicable Dutch and Norwegian securities
laws or by any appropriate regulatory authority.

Funcom is exclusively responsible for the accuracy and completeness of the
information contained in this Position Statement, provided that the only
responsibility that is accepted for information concerning the Offeror and the
Offer is the assurance that such information is properly reported and reproduced
from the Offer Document.

This Position Statement includes forward-looking statements including statements
regarding the Offer and the anticipated consequences and benefits of the Offer,
the expected timing and completion of the Offer and language indicating trends.
These forward-looking statements are based on currently available financial and
economic data as well as Funcom’s current views and assumptions with respect to
future events and financial performance. Forward-looking statements are
inherently uncertain, because these statements relate to events and depend on
circumstances that all occur in the future. Generally, words such as “will”,
“expect”, “intend”, “may”, “believe”, “plan”, “seek”, “should”, “aim”,
“estimate”, “anticipate”, “continue”, “project”, or similar expressions,
identify forward-looking statements.

Although Funcom believes that the assumptions upon which its respective
financial information and its respective forward-looking statements are based
are reasonable, it can give no assurance that these assumptions or statements
will prove to be correct. These forward-looking statements are subject to risks,
uncertainties, assumptions and other important factors, many of which may be
beyond Funcom’s control (such as political, economic or legal changes in the
markets and environments in which Funcom conducts its business), and could cause
the actual results, performance or achievements of Funcom to be materially
different from those expressed or implied in these forward-looking statements.
Moreover, the Shareholders should not interpret statements regarding trends or
activities as representations that these trends and activities will continue in
the future. Factors that could cause actual results to differ from such
statements include, but are not limited to, the occurrence of any event, change
or other circumstances that could give rise to the termination of the Offer, the
failure to receive on a timely basis or otherwise the required approvals by
government or regulatory authorities, the risk that a Condition for Completion
may not be satisfied, and the ability of Funcom to retain and hire key personnel
and to maintain relationships with customers, suppliers and other business
partners pending completion of the Offer.

This Position Statement is governed by and shall be construed in accordance with
the laws of the Netherlands. The Court of First Instance (rechtbank) in
Amsterdam, the Netherlands, shall have exclusive jurisdiction to settle any
dispute which may arise out of or in connection with this Position Statement,
without prejudice to the rights of appeal (hoger beroep) and cassation
(cassatie).

Funcom SE

Badhoevedorp, the Netherlands, 2 March 2020

This information is subject to the disclosure requirements acc. to §5-12 of vphl
(Norwegian Securities Trading Act)

Kilde

[ovstebo]

I alle dager betyr dette i praksis?

[pg-san]

This position statement is published by Funcom SE (Funcom or the Company) for
the sole purpose of providing information to its shareholders on the recommended
cash offer by Tencent,

Funcom skal forklare seg til aksjonærene hvorfor de bør godta tilbudet til Tencent. Sikkert for å klargjøre situasjonen og status for videre drift.

[h3nk1]

http://cdn.funcom.com/investor/2020/Position_Statement.pdf

Altså, et aldri så lite bombshell:

Ellers bare å takke Bergen by for at premium på ~30 prosent ble regnet fra 12-13 NOK og ikke 15-18 NOK og vel så det.

[Konamixx]

Relativt vinglepetter han der Rui da.

The Boards have duly considered the proposed Offer and have resolved to unanimously recommend the Offer for acceptance

[h3nk1]

Forskjell på å være aksjonær og CEO hva gjelder hvilke refleksjoner man gjør seg - men ja, det er spesielt. Derav “bombshell”.

Jo mer jeg tenker på det jo underligere er det at CEO fortsatt er “undecided”.

[Pablo]

Ellers bare å takke Bergen by for at premium på ~30 prosent ble regnet fra 12-13 NOK og ikke 15-18 NOK og vel så det.

En liten hilsen fra TI til Bergen.

[h3nk1]

Skulle gjerne sett lav-medium-høy analysen Pareto fikk hele 5 dager til å gjennomføre:

Valuation considerations are complex for a gaming company like Funcom; business model, size,
investment budgets, diversification of the games portfolio, end market and platform exposure, financial history, growth and margin potential as well as track record are qualitative factors that needs to be considered.

The offer price is considered by estimated financials over the period between 2020-2024 due to high variability in expected earnings over the next years. We have considered different scenarios, and illustrated a high case, medium case and low case due to the instable nature of the business, applying multiples that takes into account size and diversification compared to peers. Based on this analysis, the Offer values Funcom at a premium to EV/Sales, EV/EBIT and P/E.

We would like to highlight that **our opinion is impacted by the consideration of the potential delayed launch’’ of the communicated multiplayer Co-Op shooter game in 2020 as disclosed in the press release on 22 January. We have taken into account that if these proposed changes are approved by the Supervisory Board, it is likely that the Company will need additional financing to supplement the revenue generated from current operations.

De regner ikke med noe særlig suksess for Goldflexborn, CE og/eller DUNE mv. hvis de vitterlig regner til og med 2024.

Jaja, inb4 superior offer

[cagey2]

Begynner å tenke at Rui er på vei ut jeg da.

[Morti]

Hva sa jeg?..

[Pablo]

Blir nok litt rokeringer i ledelsen, ja.

Tror egentlig Rui vil gjøre det bedre som leder i et ikke-børsnotert selskap, men ikke vet jeg.

Kineserne vil nok muligens ha sine egne folk inn.

[Nocturne]

Rui kan starte et nytt gamingselskap! Børsnoter det, så får vi et nytt “FUNCOM” på Børsen!?