NEWS

Announcement on underwriting of third-party allocation of new shares by GCUBE ASIA PTE. LTD.

プレスリリース2018/06/15

As decided in today’s board meeting, GameWith, Inc. announces that it has decided to underwrite the allocation of new shares to

a third-party by GCUBE ASIA PTE LTD., an Indonesian game guide media management company (Headquarter: Singapore, Director: Liang Zhenglong, herein after “GCUBE”).

 

1.Reason for the underwriting of the allocation of new shares to a third-party

With our company philosophy to “create a more enjoyable gaming experience”, we aim to provide and enrich these four services through our game information media platform, “GameWith”:  1.”Game Guide,” which provides information to improve users’ game play, 2. “Game Review,” which is a source of information for finding good games, 3. “Community,” which enables game players to communicate with one another, 4. “Video Streaming,” by which in-house talented gamers stream their game play on YouTube. Along with these, through our investments of corporate resources in the pro-gaming team management “eSports”, we have enhanced the media value of “GameWith” in Japan. GCUBE is an Indonesian game guide media management company, which aims to become Southeast Asia’s largest gaming community based on its concept to “create a more enjoyable gaming experience by providing gaming information to users in Southeast Asia in their mother language”. One of the challenges to be tackled is overseas expansion, and in December of 2017 we released the Taiwanese version of “GameWith”. Our decision to underwrite the allocation of new shares to a third-party by GCUBE will strengthen our relations with the company, and will be beneficial in accelerating international development, in light of the fast-growing mobile gaming market in Southeast Asia.  

2.Company overview of GCUBE ASIA PTE. LTD.

Company Name                                GCUBE ASIA PTE. LTD.
Address                                 97A Compassvale Street #16-30 Compassvale Green, Singapore 541297
Name and title of representative                    Director Liang Zhenlong
Business outline                                                      Game guide media management[/table_item]
Capital
                                  136,000 SGD (Including capital reserve)

3. Number of acquiring shares and status of shares before and after the acquisition

Number of owned shares pre-acquisition     0 (Voting rights ratio: 0%)

Number of acquiring shares               20,000

Number of owned shares, post-acquisition       20,000 (Voting rights ratio: 16.6%)

4.Dates

Resolution of board of directors                          May 30, 2018

Contract date                                                           May 30, 2018 (Tentative)

Acquisition date                                                      May 30, 2018 (Tentative)

5.Future prospect

The impact of this transaction will have minor effects on the current period’s financial results.  

Contact

Please feel free to contact us with your inquiries.
Public Relations     Ito, Kajitani, Akiyama
(TEL) +81-3-5775-5233 (FAX) +81-3-5775-5234 (Mail) press@gamewith.co.jp