April 1, 2019 / 8:07 AM / 4 months ago

BRIEF-Due To Review Of Strategic Options Artifex Closes Some Game Projects

April 1(Reuters) - ARTIFEX MUNDI SA:

* REPORTED ON FRIDAY THAT IN RELATION TO THE ONGOING REVIEW OF STRATEGIC OPTIONS, THE MANAGEMENT OF THE COMPANY DECIDED TO CLOSE SUCH GAME PROJECTS AND DEVELOPMENT PROJECTS AS: DEMIURG, INSECTION, SPELLBLADE, MIGHTY MACHINES, BLADEBASTARDS AND AMCLUB

* THE CLOSING OF THE ABOVE-MENTIONED PROJECTS RESULTS IN AN IMPAIRMENT LOSS OF 8.5 MILLION ZLOTYS AND CORRESPONDS TO 100% THE CARRYING AMOUNT OF THE CLOSED PROJECTS

* THE MANAGEMENT ALSO DECIDED TO MAKE AN IMPAIRMENT LOSS OF MY BROTHER RABBIT AND IRONY CURTAIN PROJECTS IN THE TOTAL AMOUNT OF 4.6 MILLION ZLOTYS; THE PROJECTS’ REALIZATION WILL BE CONTINUED

* IN ADDITION, THE MANAGEMENT DECIDED TO MAKE AN IMPAIRMENT LOSS OF BLADEBOUND PROJECT IN THE AMOUNT OF 3.9 MILLION ZLOTYS

* THE SUBJECT OF THE BLADEBOUND IMPAIRMENT LOSS ARE THE OLDER COMPONENTS OF THE GAME WHICH WILL NOT BE USED BY THE CURRENT VERSION OF THE APPLICATION (‘UPDATE 0’)

* THE SAID DECISIONS DO NOT END THE PROCESS OF THE REVIEW OF THE STRATEGIC OPTIONS BY THE COMPANY

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Further company coverage: (Gdynia Newsroom)

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