Wicket Gaming AB is a public limited company governed by Swedish law. The company’s governance is based on Swedish legislation, primarily the Swedish Companies Act (SFS 2005:551) and other relevant rules and guidelines. As the Company is not listed on a regulated market place, the company is not covered by the Swedish code for corporate governance.
The company’s short name “ticker”: WIG
Contact person for IR and related matters: Eric de Basso, ir@wicketgaming.com
PRESENTATIONS
RIGHTS ISSUE
CEO INTERVIEW
COMPANY VIDEO PRESENTATION
IDLE KING VIDEO PRESENTATION
IDLE KING TRAILER
CRICKET MANAGER PRO TRAILER
INVESTMENT OPPORTUNITY
TERMS
| Term | Two (2) existing shares entitles the holder to subscribe for one (1) unit |
| Unit |
Three (3) shares and two (2) warrant |
|
Subscription price |
SEK 12.00 per unit, corresponding to SEK 4.00 per share |
|
Issue amount |
SEK 46.4 million (The rights issue is covered by subscription obligations and guarantee commitments, corresponding to a total of approximately SEK 28.1 million, which corresponds to approximately 60% of the rights issue) |
| Pre-Money Valuation |
SEK 31 million |
|
Subscription period |
February 21 – March 7 |
WARRANTS
|
Subscription price |
70 percent of VWAP during the ten days prior to the subscription period, however not more than SEK 6.00 or less than SEK 3.00 |
|
Subscription period |
November 2023 |
|
Issue size |
Maximum of SEK ~ 54.4 million at subscription price of SEK 6.00 per share. |
|
Maximum amount of issued warrants |
9,069,807 warrants including 1,333,333 warrants issued to the lender of the bridge loan |
TIME TABLE
| January 17 | Last day of trading in Wicket Gaming’s shares including the right to receive unit rights. |
| January 18 |
First day of trading in Wicket Gaming’s shares excluding the right to receive unit rights.
|
|
January 19
|
Record date for obtaining unit rights. Shareholders who were registered in the share register kept by Euroclear Sweden AB on this day received unit rights for participation in the Rights Issue. |
|
February 20
|
Publication of the EU growth prospectus |
| February 21 – March 2 | Trading with unit rights on Spotlight Stock Market |
|
February 21 – March 7
|
Subscription period for the Rights Issue
|
|
February 21 – week 12
|
Trading with BTU on Spotlight Stock Market
|
|
March 9
|
Estimated date for announcement of outcome in the Rights Issue
|
Q&A
– Why has the board decided on a rights issue?
The main reason why the board has decided to carry out a rights issue is to add capital to the company to be able to expand and develop the German operations. The Wegesrand group has received orders for more than SEK 10 million since the acquisition in early October and is in a good position to become a major player in the German edtech market. The reason why the board chose a rights issue is so that existing shareholders will have the opportunity to defend their holdings by subscribing for units in the issue. This means that the shareholders who use all their unit rights to subscribe for new units, as well as retain and use their warrants, will not be subject to dilution in the rights issue.
– Why has the board chosen to issue warrants?
The board has chosen to issue warrants in connection with the rights issue so that the company will have the opportunity to receive a further capital injection approximately ten months after the rights issue. The company plans to mainly use the capital from the exercise of the warrants to repay a convertible loan that matures in November 2023. The warrants received are free of charge, which means that they do not constitute any additional cost when subscribing to units. If you do not want to keep the warrants, it is easy to subscribe for units as usual in the issue and then sell the warrants. The warrants are intended to be admitted to trading on the Spotlight Stock Market.
– Why has the board chosen to obtain guarantee commitments and subscription obligations amounting to 60 percent of the issue?
As the issue is secured to 60 percent, the company’s security increases to obtain a sufficient amount of capital through the issue. In the board’s opinion, a subscription rate of 60 percent means that the company has sufficient capital to continue developing popular games and marketing them in more markets.
– How do I use my unit rights and participate in the rights issue?
The procedure for exercising unit rights differs depending on whether your unit rights are directly registered or trustee registered. If your shares are trustee-registered, you can use the unit rights and participate in the rights issue by contacting the bank/securities institution where you hold your shares. If you have questions about how to proceed, you can contact them directly. If your unit rights are directly registered, you will receive documentation by post containing a payment notice for the unit rights you hold. To find out whether you are directly registered or trustee registered, you must contact the bank/securities institution where you have your shares.
– What conditions apply to the warrants issued in the rights issue?
One unit in the rights issue contains three (3) shares and two (2) free warrants of series TO2. A warrant of series TO2 is a security that gives you the right to subscribe for a new share in Wicket Gaming during the period 1 November to 14 November 2023 at a price corresponding to 70% of the volume-weighted average price of Wicket Gaming’s share price during the period 17 October to and by 30 October 2023, however a minimum of SEK 3.0 and a maximum of SEK 6.0.