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MTG increases ownership in PlaySimple to 100%

MTG
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Modern Times Group MTG AB (publ) ("MTG") today announced that it now owns 100% of its Indian casual gaming studios PlaySimple, in line with the timeline to full ownership announced at the time of the acquisition in 2021.

At this stage MTG has not been able to transfer Class B shares (currently held by MTG as Class C shares ) to the founders of PlaySimple as per the original purchase agreement. MTG continues to strongly believe in the long-term benefits of having PlaySimple's founders hold shares in the group, and intends to continue exploring options to achieve this.

In order to explore additional options for the delivery of shares as mentioned above, MTG intends to ask its shareholders for a new mandate for the delivery of shares. MTG intends to send out a notice to convene an extraordinary general meeting to approve this before the end of the year, with the EGM to be held in early 2024.

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