The District Court Decided on Continued Reconstruction and to Appoint a Creditor Committee

STOCKHOLM, Dec. 21, 2018 /PRNewswire/ --

A Creditors' meeting took place today at the District Court of Stockholm. The Court decided to allow continued reconstruction up until 3 March 2019. The Court also appointed a Creditor Committee related to Starbreeze AB (publ).

As previously announced, the reconstruction plan states that Starbreeze will focus on its core business of internal game development and publishing. The company has initiated a process to find collaborations with external parties to secure that the non-core operations develop in a positive way. At the creditors' meeting, the largest external creditors supported reconstruction.

The Creditor Committee consists of Martin Wigforss representing Nordea Bank AB and Magdalena Berg, Baker & McKenzie Advokatbyrå, representing Smilegate.

The company will initiate efforts to find partners to finance the whole or parts of the Company's operations. Starbreeze assesses that the operational changes will be concluded at the half-year 2019.

This information is information that Starbreeze AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15:20 CET on December 21, 2018.  

About Starbreeze

Starbreeze is a global game company whose vision is to be a leading provider in the entertainment industry by creating world-class experiences. Starbreeze was founded in 1998 and has since evolved into a well-established developer and publisher of PC and console games and VR products aimed at the global market. With studios in Stockholm, Paris, Los Angeles, San Francisco, Barcelona, Brussels, Bangalore and Dehradun. Starbreeze develops high-quality entertainment products based on proprietary and third-party rights, both in-house and in partnership with external game developers. Operations are organized in three business areas: Starbreeze Games for own game development, Publishing, and VR Tech for technology development including the StarVR venture. Starbreeze shares are listed on Nasdaq Stockholm under the tickers STAR A and STAR B with the ISIN-codes SE0007158928 (A share) and SE0005992831 (B share). For more information, please visit starbreeze.com

CONTACT:

For more information, please contact:

Pia Rosin, Interim Head of Investor Relations, Starbreeze AB

Tel: [phone], email: [e-mail]

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Decision on continued reconstruction

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SOURCE Starbreeze AB

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