Electronic Arts Inc. Update to stated post-offer intention statements (1256F)

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RNS Number : 1256F

Electronic Arts Inc.

13 July 2021

THE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO THE REQUIREMENTS OF RULES 19.6(B) OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE").

FOR IMMEDIATE RELEASE

13 July 2021

ELECTRONIC ARTS INC.

Rule 19.6(b) Update to stated post-offer intention statements with regard to Codemasters Group Holdings plc

Electronic Arts Inc. ("EA") announces that, further to the completion of its recommended cash acquisition of the entire issued and to be issued share capital of Codemasters Group Holdings plc ("Codemasters"), which was effected by way of a scheme of arrangement under Part 26 of the Companies Act 2006 on 18 February 2021 (the "Acquisition"), Frank Sagnier and Rashid Varachia, the Chief Executive Officer and Chief Financial Officer of Codemasters, respectively, have decided to step down from their roles at Codemasters. Their decision was voluntary at their election and not at the request of EA.

Consequently, EA is updating the statement of intention made pursuant to Rules 2.7(c)(viii) and 24.2 of the Code, set out in the announcement of 14 December 2020 and the scheme document published in connection with the Acquisition on 7 January 2021, that it intended for Codemasters' existing executive management team, including Frank Sagnier and Rashid Varachia, to remain in place following completion of the Acquisition. Accordingly, this announcement is required under Rule 19.6(b) of the Code.

Enquiries:

 
 
                                                    +1 650 628 
 Electronic Arts Inc.                               0255 
  Chris Evenden (Investor Relations)                +1 650 628 
  John Reseburg (Global Communications)             3601 
 
   UBS Investment Bank (sole financial adviser      [phone] 
   to EA)                                           8000 
 Jonathan Rowley 
  David Descoteaux 
  Sandip Dhillon 
 

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July 13, 2021 11:36 ET (15:36 GMT)