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Cherry has called on the option to acquire an additional 7.5 percent of the shares in Almor

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Cherry AB (publ) – STO: CHER-B.ST, has resolved to call on the option to acquire addition 7.5 percent of the shares in the Maltese company Almor Holding Limited (Almor). The company is an operator of onlince casino and sportsbook in primarily German-speaking countries. Following the acquisition Cherry will own 90.0 percent of the shares in Almor.

Following continued favourable development of Almor’s group of brands, Cherry has resolved to call on the option to acquire additional 7.5 percent of the shares in the company. The purchase price for Almor Holding Limited will, according to the agreement amount to approximately EUR 4.4 million and to be paid through a combination of equal portions cash and newly issued shares in Cherry AB (publ). The share issue in Cherry AB (publ) has been proposed to be established by the shareholders in the Annual General Meeting on 30 May 2018.

Cherry’s current holding in Almor amounts to 82.5 percent and will amount to 90.0 percent following the transaction has been completed. Cherry holds the right to utilise its option to buy the remaining shares in Almor in the first six months of 2019. The option to acquire additional shares is based on a multiple of five times EBIT, calculated as an average of the years 2017 and 2018.   For further information, please contact:

Anders Holmgren, CEO: +46 708 607 534, anders.holmgren@cherry.se
Christine Rankin, CFO, tel: +46 765 399 492, christine.rankin@cherry.se
Anders Antonsson, IR & Communications: +46 709 994 970, anders.antonsson@cherry.se

About Cherry

Cherry is a Swedish innovating and fast-growing company with operations in gaming, entertainment and media. The company was established in 1963 and today operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,400 people and has about 6,700 shareholders. The company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se.

Zoltán is a self-taught publisher and events organizer who has developed several brands and services that have increased the notoriety of his company within multi-billion dollar industries. In 2018, he has become a TEDx speaker and talked about reputation management in the digital era. As Co-Founder of HIPTHER Agency, Zoltan has helped develop highly respected online news portals, virtual and in-person conferences that cater to multiple industries on 5 continents. Among the developed brands and services you can find online news portals that cover several tech industries, gaming, blockchain, fintech, artificial intelligence, and more. In parallel, the company has built a portfolio of annually organized boutique-style conferences in Europe and North America. All the events organized by his company focus on bringing a wealth of information about the latest innovation in several industries such as Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports and many more. Zoltan enjoys writing articles on all portals owned by the HIPTHER Agency, talking at conferences, hosting the weekly HIPTHER Talks Podcast, and loves spending time with his family. Zoltan is a duathlete who enjoys training for different international competitions which include running and cycling.

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