December 7, 2016 / 7:59 AM / a year ago

BRIEF-EBC Solicitors to invest in computer games production area

Dec 7 (Reuters) - EBC Solicitors SA :

* Said on Tuesday that it plans to invest in the area of computer games production via investing in the companies at an early stage of development (seed capital), which can run 1-3 years to get recognition on the market

* Estimates the value of an individual investment between 250,000 zlotys ($60,067) and 1.0 million zlotys that will be allocated for acquisition of 20 pct to 49 pct stake in a portfolio company

* After obtaining additional funds the portfolio companies will be listed on the NewConnect market

* For the realization of the strategy, the company intends to create, based on Blue Ocean Media SA (BOM), an incubator of game developers

* The company requested to convene shareholders’ meeting of BOM to vote on increase of BOM’s share capital

* The company plans to acquire new shares of BOM in exchange for shares in the video games developing companies; the BOM’s shares will not be introduced to trade on NewConnect until June 30, 2018

* At the same time the planned shares issue with pre-emptive rights should provide BOM with funds for additional investments in portfolio companies

* Said it currently holds stake in Red Dev Studio sp. z o.o. and conducts talks regarding investment in another game developing companies

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$1 = 4.1620 zlotys Gdynia Newsroom

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