DGAP-News: Frogster Interactive Pictures AG: Frogster Asia expands product portfolio with a casual MMO Game / Update on revenues and update regarding shareholder pool
(firmenpresse) - Frogster Interactive Pictures AG / Product Launch/Development of Sales
04.05.2010 13:02
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Berlin/Seoul, 4.05.2010: Frogster Asia Co. Ltd., Korean subsidiary of
Frogster Interactive Pictures AG, international publisher of massively
multiplayer online games with headquarters in Berlin, announces the launch
of the casual MMO game 'Ghost Fighter' in Korea for the third quarter 2010.
'Ghost Fighter' was developed by the Chinese online games group Shanda
Games and is a so-called 'side scroller', a genre which enjoys a great deal
of popularity within the Asian territories. The new casual MMO game in
Frogster Asia's portfolio has already been published in China very
successfully and currently documents around 130,000 concurrent users with
an upward trend. 'Ghost Fighter' is similar to the already five year old
'Dungeon&Fighter' which is the most successful game in this genre.
However, it comes with a newer technology, higher graphic quality, an
exciting storyline and contains various new elements of game-play. Sunny
Park, Frogster Asia's CEO, sees great chances of success for this casual
MMO game on the Korean market and has taken on the search for a financing
for the product's marketing budget in the a six-digit USD amount. Frogster
Interactive could also provide this financing in exchange for an increase
of its stake in its subsidiary Frogster Asia.
Update on the title 'The Chronicles of Spellborn'
Frogster Asia has not yet been able to reach an agreement with the Dutch
developer Spellborn on further cooperation with the developer regarding the
intended release of the free-to-play version of the MMO game 'The
Chronicles of Spellborn' in Asia. The management had already informed about
the uncertain outcome of the ongoing talks on various occasions. If the
developer continues to fall short to their contractual duties towards
Frogster Interactive, Frogster will reclaim the paid prepayments for the
product of a seven-digit Euro amount while it is unknown whether the
developer could make such a payment. The company has already fully written
off all prepayments on Frogster's balance sheet regarding the game so that
no noteworthy negative impacts are impending.
Update on current revenues
In April 2010, the Frogster Group has again reached a new monthly revenue
record with the MMO game 'Runes of Magic'. In April, also the group's total
revenue was only slightly below the one of the month of March. Frogster
expects further revenue increases from the roll-out into the recently
launched Polish language version, from additional game contents, especially
the third chapter 'Runes of Magic - The Elder Kingdoms' which will be
released in the running month of May 2010, from further large-scale
marketing campaigns, and from improvements in functions such as the already
announced enabling of impulse purchases within the game and the reduction
of the data volume of the initial game download with a 'slim client'.
Update on the pool of shareholders
Regarding the interest pursued by a Frogster shareholder pool to acquire an
anchor shareholder, the appointed M&A advisory firm Corporate Finance
Partners (CFP) has extended the deadline to hand in letters of intent by
the potential buyers to mid-May in order to give them the opportunity for
the assessment of statistical evaluations and information delivered
recently by Frogster on the newly purchased browser MMO game licenses.
Currently, talks with potential buyers take place on an ongoing basis,
amongst others in Berlin and London. The due diligence has now been
scheduled for the end of May. The pool shareholders' contractual obligation
and with this, the term for the accomplishment of a possible transaction
terminate unchanged on June 30th, 2010.
Replacement of a seat in the supervisory board
Mr. Erasmios Bizimis has put down his mandate in the Frogster supervisory
board before the end of his term in office effective per the end of the
shareholder meeting on June 16th 2010 in order to allow the reelection of a
member of the supervisory board from the group of major shareholders. The
supervisory board will propose to the shareholder meeting Mr. Günther Paul
Löw, lawyer and member of the management board of Impera Total Return AG,
an institutional shareholder of Frogster, for election onto the supervisory
board.
Frogster Interactive Pictures AG, Tel. +49 (0)30-28 47 01-0
04.05.2010 13:02 Ad hoc announcement, Financial News and MediaRelease distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Frogster Interactive Pictures AG
Hardenbergstr. 9A
10623 Berlin
Deutschland
Phone: 030 / 284701-10
Fax: 030 / 284701-11
E-mail: frogster(at)ir-services.de
Internet: http://www.frogster-ip.de/
ISIN: DE000A0F47J1
WKN: A0F47J
Indices: Entry Standard Performance-Index
Listed: Freiverkehr in Berlin, München, Düsseldorf, Stuttgart; Open
Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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Datum: 04.05.2010 - 13:02 Uhr
Sprache: Deutsch
News-ID 20215
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Kategorie:
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