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Gaming Innovation Group Inc.: Key Dates Announcement for Reverse Share Split

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With reference to the announcement on 11 December 2018, the shareholders of Gaming Innovation Group Inc. (GIG) have resolved to perform a 10-for-1 reverse share split (Nw: “aksjespleis”) which means that 10 old shares will be converted to 1 new share. The par value will change from USD 0.10 to USD 1.00 per share. New ISIN code for the share will be US36467X2062.

There is no need for any shareholders to act on the reversed split as this will be resolved automatically. Regarding fractional shares, see below.

The reverse share split will be completed with the following timetable:

  • 18 December 2018 – Last day of trading of the Company’s shares inclusive the right to have the shares consolidated
  • 19 December 2018 – First day of trading exclusive consolidation
  • 20 December 2018 – VPS record date
  • 21 December 2018 – Date of delivery of the consolidated shares in VPS
  • 19 December 2018 – First day of trading of the consolidated shares (no account to account transactions or transactions with settlement prior to 21 December 2018)
  • 21 December 2018 – First day of ordinary trading of the consolidated shares

Fractional shares arising as a result of the consolidation will not be delivered.

The number of consolidated shares issued to each beneficial owner listed in the VPS on the record date will be rounded down to the nearest whole number. The Company will purchase all fractional entitlements to shares of the Company for a proportional cash payment equal to NOK 26.00 per consolidated share (the “Purchase Price”) and offer these shares for sale in the market. The net proceeds will be used to settle the Purchase Price. The maximum claim per registered owner for settlement of fractions of shares will be 9/10 of the Purchase Price (NOK 23.40). The total settlement for all fractional shares is expected to add up to approximately NOK 14,000 (approximately 525 consolidated shares).

Considering the low amount and the transaction costs associated with paying out the amount to all shareholders, settlement will be made only to shareholders who request payment from the Company. Such shareholders may approach the Company by sending an email to [email protected] or by post to Gaming Innovation Group, Fridtjof Nansens plass 6, 0160 Oslo, Norway. Proceeds which have not been claimed by 31 January 2019 will be donated to a charitable cause.

For further information, please contact:

Group CFO
Tore Formo
[email protected]

About Gaming Innovation Group (GiG):

Gaming Innovation Group Inc. is a technology company providing products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group’s vision is ‘To open up iGaming and make it fair and fun for all’. Through its ecosystem of products and services, it is connecting operators, suppliers and users, to create the best iGaming experiences in the world. Gaming Innovation Group operates out of Malta and is listed on the Oslo Stock Exchange under the ticker symbol GIG.

For more information about GiG and our services also see: www.gig.com

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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